Slovakia | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Slovakia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Slovakia economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.80 1 0.9 0.9 0.8 0.5 percent [+]
Unemployment Rate 7.70 7.4 7.1 6.7 6.5 5.5 percent [+]
Inflation Rate 0.80 1.5 1.9 2.2 2.1 2.4 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade 376.80 275 265 274 273 273 EUR Million [+]
Government Debt to GDP 51.90 51 51 51 50.5 48.2 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 1.12 1.06 1.05 1.04 1.03 0.86 [+]
Stock Market 308.55 305 302 293 296 247 points [+]
Government Bond 10y 0.32 0.56 0.56 0.57 0.57 0.66 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.80 1 0.9 0.9 0.8 0.5 percent [+]
GDP Annual Growth Rate 3.10 3.4 3.2 3 3 2.7 percent [+]
GDP 87.26 91.17 87.45 93.46 85.21 99 USD Billion [+]
GDP Constant Prices 19934.75 20138 20214 20278 20335 20556 EUR Million [+]
Gross Fixed Capital Formation 4.75 3.85 3.79 4.52 2.94 4.28 EUR Billion [+]
GDP per capita 18643.15 18774 18950 19125 19229 20866 USD [+]
GDP per capita PPP 28254.26 28295 28599 28903 29007 30184 USD [+]
GDP From Agriculture 0.59 0.73 0.73 0.73 0.73 0.73 EUR Billion [+]
GDP From Construction 1785.00 1258 1712 1732 889 1622 EUR Million [+]
GDP From Manufacturing 4469.00 4748 4702 4653 4700 4735 EUR Million [+]
GDP From Public Administration 2.39 2.13 2.19 2.36 1.98 2.29 EUR Billion [+]
GDP From Services 3314.00 3829 3816 3379 3483 3482 EUR Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 7.70 7.4 7.1 6.7 6.5 5.5 percent [+]
Employed Persons 2512.60 2532 2537 2541 2543 2562 Thousand [+]
Unemployed Persons 211104.00 207620 204615 197740 194412 177693 [+]
Labor Force Participation Rate 90.90 91.69 91.6 91.94 91.89 92.91 percent [+]
Long Term Unemployment Rate 5.40 5 4.92 4.8 4.75 4.35 percent [+]
Youth Unemployment Rate 18.80 18.32 18.11 18.01 17.96 17.92 percent [+]
Labour Costs 113.00 105 98.09 113 109 113 Index Points [+]
Productivity 117.00 114 114 114 114 114 Index Points [+]
Wages 1033.00 1031 1035 1028 1035 1032 EUR/Month [+]
Wages in Manufacturing 1012.00 1014 1015 1011 1015 1013 EUR/Month [+]
Minimum Wages 435.00 405 436 425 448 490 EUR/Month [+]
Population 5.43 5.42 5.43 5.44 5.44 5.47 Million [+]
Retirement Age Women 62.00 61.53 61.51 61.48 61.3 59.99 [+]
Retirement Age Men 62.00 62 62 62 62 62 [+]
Employment Change 0.60 0.27 0.17 0.11 0.09 0.17 percent [+]
Employment Rate 65.30 66.03 66.06 66.16 66.31 66.85 percent [+]
Full Time Employment 2340.60 2348 2351 2351 2352 2355 Thousand [+]
Part Time Employment 148.70 151 153 155 157 175 Thousand [+]
Living Wage Family 727.00 771 779 776 777 777 EUR/Month [+]
Living Wage Individual 644.40 642 642 641 641 640 EUR/Month [+]
Wages Low Skilled 626.00 602 598 594 591 575 EUR/Month [+]
Wages High Skilled 1190.00 1122 1110 1101 1093 1053 EUR/Month [+]
Wage Growth 3.70 3.7 3.97 4.1 3.98 3.3 percent [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 0.80 1.5 1.9 2.2 2.1 2.4 percent [+]
Inflation Rate Mom 0.10 0.4 0.5 0.4 0 0.6 percent [+]
Harmonised Consumer Prices 100.56 101 101 101 101 103 Index Points [+]
Consumer Price Index CPI 164.20 164 165 165 165 168 Index Points [+]
Core Consumer Prices 118.40 119 119 119 119 119 Index Points [+]
Core Inflation Rate 1.50 0.4 0.6 0.8 1.52 1.6 percent [+]
GDP Deflator 102.69 102 102 102 102 102 Index Points [+]
Producer Prices 102.00 105 107 109 111 129 Index Points [+]
Export Prices 100.00 100 100 100 100 100 Index Points [+]
Import Prices 100.50 100 100 100 100 100 Index Points [+]
Cpi Housing Utilities 234.50 234 234 233 233 229 Index Points [+]
Cpi Transportation 125.10 125 125 125 125 125 Index Points [+]
Food Inflation 1.90 1.59 1.58 1.58 1.58 1.58 percent [+]
Producer Prices Change 9.60 8.9 8.2 6.5 4.2 2.6 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Money Supply M0 10.74 10.7 10.7 10.7 10.7 10.7 EUR Billion [+]
Money Supply M1 43.20 44.09 44.9 45.71 46.52 55.07 EUR Billion [+]
Money Supply M2 56.70 57.41 58.07 58.74 59.41 66.76 EUR Billion [+]
Money Supply M3 56.90 57.61 58.25 58.9 59.55 66.68 EUR Billion [+]
Banks Balance Sheet 73058.00 72985 72994 72995 72996 72995 EUR Million [+]
Foreign Exchange Reserves 2753.20 2741 2746 2747 2747 2747 USD Million [+]
Loans to Private Sector 17584.00 17908 18148 18352 18530 19493 EUR Million [+]
Central Bank Balance Sheet 24171.00 24083 24276 24291 24305 24313 EUR Million [+]
Private Debt to GDP 120.73 122 123 123 123 130 percent [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade 376.80 275 265 274 273 273 EUR Million [+]
Exports 6790.00 5794 6347 6072 6183 6156 EUR Million [+]
Imports 6410.00 5746 6148 5876 6045 5980 EUR Million [+]
Current Account 2.30 -83.29 -44.66 -56.52 -52.84 -53.72 EUR Million [+]
Current Account to GDP 0.30 -0.4 -0.99 -0.9 -0.97 -0.64 percent [+]
External Debt 73.75 74.82 75.69 76.77 77.81 88.51 EUR Billion [+]
Terms of Trade 99.50 99.76 99.76 99.76 99.76 99.76 Index Points [+]
Foreign Direct Investment 626.80 387 366 363 363 362 EUR Million [+]
Capital Flows -709.40 57.47 42.79 53.64 51.61 51.75 EUR Million [+]
Gold Reserves 31.69 31.69 31.69 31.69 31.69 31.69 Tonnes [+]
Crude Oil Production 0.20 0.2 0.2 0.2 0.2 0.2 BBL/D/1K [+]
Terrorism Index 0.00 0 0 0 0 0 [+]
Weapons Sales 5.00 3.92 4.3 4.68 4.61 4.74 USD Million [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 51.90 51 51 51 50.5 48.2 percent [+]
Government Budget -1.70 -1 -1 -1 -0.8 0.5 percent of GDP [+]
Government Budget Value -635.12 -687 -630 -617 -627 -626 EUR Million [+]
Government Spending 4.24 3.51 3.63 4.28 3.38 4.26 EUR Billion [+]
Government Spending to GDP 41.60 43.45 41.99 40.54 41.01 40.26 percent [+]
Government Revenues 3920.12 8047 7288 6189 6812 6731 EUR Million [+]
Government Debt -329.00 626 320 219 397 490 EUR Million [+]
Fiscal Expenditure 4555.24 9415 8400 7255 7969 7854 EUR Million [+]
Asylum Applications 20.00 18.95 19.01 19.02 19.01 19.01 persons [+]
Military Expenditure 1164.20 1214 1247 1280 1282 1154 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Business Confidence 2.00 3.4 4.4 6.4 4.48 0.5 [+]
Industrial Production 13.40 0.2 0.6 1.2 10.77 1.6 percent [+]
Manufacturing Production 14.10 10.46 10.75 10.84 10.86 10.88 percent [+]
Capacity Utilization 86.50 85.4 85.12 83.6 82.07 74.61 percent [+]
Car Registrations 7272.00 7206 7133 7239 7220 7217 Cars [+]
Changes In Inventories -0.47 0.18 1.04 -0.38 0.29 -0.17 EUR Billion [+]
Competitiveness Index 4.28 4.27 4.27 4.27 4.36 4.63 Points [+]
Competitiveness Rank 65.00 65 65 65 55 46 [+]
Ease of Doing Business 33.00 31 34 37 36 33 [+]
Electricity Production 2218.00 2070 2160 2175 2148 2153 Gigawatt-hour [+]
Corruption Index 51.00 50 50 50 49 47 Points [+]
Corruption Rank 54.00 54 53 53 54 54 [+]
New Orders 4721.50 4063 4346 4263 4262 4273 EUR Million [+]
Mining Production 1.70 0.86 0.08 -0.12 -0.18 -0.2 percent [+]
Industrial Production Mom -0.80 0.54 0.56 0.56 0.57 0.57 percent [+]
Steel Production 402.00 392 390 390 389 389 Thousand Tonnes [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Consumer Confidence -6.90 -14.7 -10.6 -12.5 -13.99 -10.8 [+]
Retail Sales MoM 1.50 0.7 0.3 0.9 0.16 0.4 percent [+]
Retail Sales YoY 7.50 0.8 1 1.2 6.68 0.8 percent [+]
Consumer Spending 10.25 10.3 10.32 10.37 10.19 10.57 EUR Billion [+]
Disposable Personal Income 13234.00 12476 12404 12423 12418 12419 EUR Million [+]
Personal Savings 2270.00 1437 1269 1330 1308 1314 EUR Million [+]
Consumer Credit 5606.00 5704 5802 5900 5998 7076 EUR Million [+]
Bank Lending Rate 3.08 3.11 3.06 3.05 3.06 3.06 percent [+]
Economic Optimism Index 104.00 103 103 103 103 103 Index points [+]
Gasoline Prices 1.29 1.27 1.28 1.28 1.28 1.28 USD/Liter [+]
Households Debt To Income 57.55 59.89 60.99 62.09 62.99 75.24 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Construction Output 8.50 -0.2 0.6 1.1 2.46 2.2 percent [+]
Housing Index 113.40 115 115 115 114 114 Index Points [+]
Home Ownership Rate 89.30 89.69 89.38 89.08 89.04 88.68 percent [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 21.00 22.72 22.72 22.72 21.07 20.85 percent [+]
Personal Income Tax Rate 25.00 24.9 24.85 24.81 24.81 24.77 percent [+]
Sales Tax Rate 20.00 19.99 19.99 19.99 20 20 percent [+]
Social Security Rate 48.60 48.6 48.6 48.6 48.6 48.6 percent [+]
Social Security Rate For Companies 35.20 35.2 35.2 35.2 35.2 35.2 percent [+]
Social Security Rate For Employees 13.40 13.4 13.4 13.4 13.4 13.4 percent [+]