Slovakia's gross domestic product advanced 3.1% year-on-year in the first quarter of 2022, matching preliminary estimates, and following a 1.4% growth in the previous three-month period. The expansion was supported mainly by domestic demand, in particular household consumption (9.1% vs 2.8% in Q4) and investment activity (6.4% vs 6%). However net foreign demand contributed negatively, as exports fell by 4.5% on year while imports declined at a softer 1.3%. Overall, as for the 10 sectors of the economy, 7 of them recorded a year-on-year increase, but only 4 sectors exceeded the pre-pandemic level, namely wholesale and retail trade (+15%), real estate activities (+2.7%), information and communication (+3.4%), and public administration and defense (1.5%).On a seasonally adjusted quarterly basis, the economy rose 0.4 percent, advancing from a 0.3 percent increase in the fourth quarter of 2021. source: Statistical Office of the Slovak Republic

GDP Annual Growth Rate in Slovakia averaged 3.51 percent from 1996 until 2022, reaching an all time high of 13.60 percent in the fourth quarter of 2007 and a record low of -10.90 percent in the second quarter of 2020. This page provides - Slovakia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Slovakia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Annual Growth Rate in Slovakia is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Slovakia GDP Annual Growth Rate is projected to trend around 2.50 percent in 2023 and 2.70 percent in 2024, according to our econometric models.

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Slovakia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-17 07:00 AM YoY Prel Q1 3.1% 1.4% 2.7% 3%
2022-06-07 07:00 AM YoY Final Q1 3.1% 1.4% 3.1% 3.1%
2022-08-17 07:00 AM YoY Prel Q2 3.1% 0.7%


Related Last Previous Unit Reference
GDP Growth Rate 0.40 0.30 percent Mar 2022
GDP Annual Growth Rate 3.10 1.40 percent Mar 2022
GDP Constant Prices 20.64 22.91 EUR Million Mar 2022
Gross Fixed Capital Formation 3.55 5.30 EUR Billion Mar 2022
Full Year GDP Growth 3.00 -4.40 percent Dec 2021
GDP From Services 3842.00 3498.00 EUR Million Mar 2022
GDP From Public Administration 2.88 3.19 EUR Billion Mar 2022
GDP From Manufacturing 4754.00 4276.00 EUR Million Mar 2022
GDP From Construction 513.00 1634.00 EUR Million Mar 2022
GDP From Agriculture 0.29 0.31 EUR Billion Mar 2022

Slovakia GDP Annual Growth Rate
In Slovakia, the most important industries are engineering, chemical, electrotechnical engineering, wood-processing and food industry. On the expenditure side, household consumption is the main component of GDP and accounts for 57 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (19 percent). Exports of goods and services account for 92 percent of GDP while imports account for 88 percent, adding 4 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
3.10 1.40 13.60 -10.90 1996 - 2022 percent Quarterly
NSA

News Stream
Slovak Q1 GDP Growth Confirmed at 3.1%
Slovakia's gross domestic product advanced 3.1% year-on-year in the first quarter of 2022, matching preliminary estimates, and following a 1.4% growth in the previous three-month period. The expansion was supported mainly by domestic demand, in particular household consumption (9.1% vs 2.8% in Q4) and investment activity (6.4% vs 6%). However net foreign demand contributed negatively, as exports fell by 4.5% on year while imports declined at a softer 1.3%. Overall, as for the 10 sectors of the economy, 7 of them recorded a year-on-year increase, but only 4 sectors exceeded the pre-pandemic level, namely wholesale and retail trade (+15%), real estate activities (+2.7%), information and communication (+3.4%), and public administration and defense (1.5%).On a seasonally adjusted quarterly basis, the economy rose 0.4 percent, advancing from a 0.3 percent increase in the fourth quarter of 2021.
2022-06-07
Slovak Q1 GDP Growth Tops Forecasts
Slovakia's gross domestic product advanced by 3 percent year-on-year in the first quarter of 2022, following a 1.4 percent growth in the previous three-month period and above market expectations of a 2.7 percent rise, a preliminary estimate showed. The expansion of the Slovak economy was supported mainly by domestic demand, primarily consumer and investment demand, while foreign demand decreased. On the production side, the main positive contributions came from wholesale and retail trade and the accommodation and catering services sector. On the contrary, the manufacture of motor vehicles, which is the most important sector, contracted. On a seasonally adjusted quarterly basis, the economy expanded by 0.4 percent, the same pace as in the previous quarter.
2022-05-17
Slovak Q4 GDP Growth Confirmed at 1.4%
Slovakia's gross domestic product advanced 1.4 percent year-on-year in the fourth quarter of 2021, matching preliminary estimates, and following a 1.3 percent growth in the previous three-month period. The expansion was supported mainly by domestic demand, in particular household consumption (2.8 percent vs 2.5 percent in Q3) and consumption of the public administration (2.1 percent vs -1 percent). Also, gross fixed capital formation grew by 6 percent after declining by 1.9 percent in the third quarter. However, net foreign demand contributed negatively to the GDP as imports increased 3.5 percent on year while exports rose at a softer 1.6 percent. On a seasonally adjusted quarterly basis, the economy rose 0.3 percent, slowing from a 0.4 percent increase in the third quarter of 2021. Considering the full 2021 year, the GDP grew 3 percent on year, still remaining 1.5 percent below the pre-pandemic level.
2022-03-08