Slovak Republic: Export motors

Net exports are projected to rise markedly as production builds up at new automobile plants, pushing economic growth up to around 8% in 2006 and again in 2007. Unemployment is likely to continue to fall, albeit more slowly than in recent years. Headline inflation should decline to 2.25% by 2008.
Further monetary policy tightening may be needed to ensure that inflation targets are met. Greater fiscal consolidation in 2007 would both help to damp inflationary pressures and create a larger safety margin for respecting the Maastricht fiscal criteria. Labour market reforms are needed to bring the long-term unemployed back into employment.
Population (000s), 20055 387
Area (000 sq km)49
CurrencyKoruna
GDP (Billion USD), 200581
Life expectancy at birth (Women, Men), 200477.8, 70.3
Total labour force (000s), 20052 646
Government typeParliamentary Democracy
Indicators% change unless otherwise indicated
200620072008
GDP growth8.28.05.7
Consumer price index4.52.82.2
Unemployment rate (%)13.512.211.7
General government financial balance
(% GDP)
-3.7-2.7-2.2
Current account balance (% GDP)-6.4-3.9-3.3
Source: OECD©OECD Observer No. 258/259, December 2006


Economic data

GDP growth: -1.8% Q1 2020/Q4 2019
Consumer price inflation: 0.9% Apr 2020 annual
Trade (G20): -4.3% exp, -3.9% imp, Q1 2020/Q4 2019
Unemployment: 8.4% Apr 2020
Last update: 9 July 2020

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