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Slovakia Economy 2007

https://allcountries.org/wfb2007/slovakia/slovakia_economy.html
SOURCE: 2007 CIA WORLD FACTBOOK

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Economy - overview:
Slovakia has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The DZURINDA government made excellent progress during 2001-04 in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, and the government has helped facilitate a foreign investment boom with business friendly policies such as labor market liberalization and a 19% flat tax. Foreign investment in the automotive sector has been strong. Slovakia's economic growth exceeded expectations in 2001-06 despite the general European slowdown. Unemployment, at an unacceptable 18% in 2003-04, dropped to 10.2% in 2006 but remains the economy's Achilles heel. Slovakia joined the EU on 1 May 2004.

GDP (purchasing power parity):
$99.19 billion (2006 est.)

GDP (official exchange rate):
$47.72 billion (2006 est.)

GDP - real growth rate:
8.3% (2006 est.)

GDP - per capita (PPP):
$18,200 (2006 est.)

GDP - composition by sector:
agriculture: 3.6%
industry: 31.6%
services: 64.8% (2006 est.)

Labor force:
2.658 million (2006 est.)

Labor force - by occupation:
agriculture 5.8%, industry 29.3%, construction 9%, services 55.9% (2003)

Unemployment rate:
10.2% (2006 est.)

Population below poverty line:
21% (2002)

Household income or consumption by percentage share:
lowest 10%: 3.1%
highest 10%: 20.9% (1996)

Distribution of family income - Gini index:
25.8 (1996)

Inflation rate (consumer prices):
4.5% (2006 est.)

Investment (gross fixed):
26.4% of GDP (2006 est.)

Budget:
revenues: $25.63 billion
expenditures: $27.02 billion (2006 est.)

Public debt:
35% of GDP (2006 est.)

Agriculture - products:
grains, potatoes, sugar beets, hops, fruit; pigs, cattle, poultry; forest products

Industries:
metal and metal products; food and beverages; electricity, gas, coke, oil, nuclear fuel; chemicals and manmade fibers; machinery; paper and printing; earthenware and ceramics; transport vehicles; textiles; electrical and optical apparatus; rubber products

Industrial production growth rate:
7.8% (2006 est.)

Electricity - production:
29.89 billion kWh (2005)

Electricity - consumption:
24.93 billion kWh (2005)

Electricity - exports:
11.27 billion kWh (2005)

Electricity - imports:
8.005 billion kWh (2005)

Oil - production:
11,480 bbl/day (2005 est.)

Oil - consumption:
74,000 bbl/day (2004 est.)

Oil - exports:
77,660 bbl/day (2004)

Oil - imports:
138,200 bbl/day (2004)

Oil - proved reserves:
9 million bbl (1 January 2006)

Natural gas - production:
141.9 million cu m (2005 est.)

Natural gas - consumption:
6.231 billion cu m (2005 est.)

Natural gas - exports:
354.9 million cu m (2005 est.)

Natural gas - imports:
6.396 billion cu m (2005)

Natural gas - proved reserves:
14.39 billion cu m (1 January 2006 est.)

Current account balance:
$-4.579 billion (2006 est.)

Exports:
$41.86 billion f.o.b. (2006 est.)

Exports - commodities:
vehicles 25.9%, machinery and electrical equipment 21.3%, base metals 14.6%, chemicals and minerals 10.1%, plastics 5.4% (2004)

Exports - partners:
Germany 23.7%, Czech Republic 14.1%, Italy 6.5%, Poland 6.2%, Austria 6%, Hungary 5.8%, France 4.3%, Netherlands 4.2% (2006)

Imports:
$44.95 billion f.o.b. (2006 est.)

Imports - commodities:
machinery and transport equipment 41.1%, intermediate manufactured goods 19.3%, fuels 12.3%, chemicals 9.8%, miscellaneous manufactured goods 10.2% (2003)

Imports - partners:
Germany 23.6%, Czech Republic 18.2%, Russia 11%, Hungary 6%, Austria 5.5%, Poland 4.9%, Italy 4.4% (2006)

Economic aid - recipient:
$235 million in available EU structural adjustment and cohesion funds (2004)

Reserves of foreign exchange and gold:
$13.36 billion (2006 est.)

Debt - external:
$28.95 billion (2006 est.)

Stock of direct foreign investment - at home:
$19.08 billion (2006 est.)

Stock of direct foreign investment - abroad:
$987.1 million (2006 est.)

Market value of publicly traded shares:
$5.574 billion (2006)

Currency (code):
Slovak koruna (SKK)

Exchange rates:
koruny per US dollar - 29.611 (2006), 31.018 (2005), 32.257 (2004), 36.773 (2003), 45.327 (2002)

Fiscal year:
calendar year


NOTE: The information regarding Slovakia on this page is re-published from the 2007 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovakia Economy 2007 information contained here. All suggestions for corrections of any errors about Slovakia Economy 2007 should be addressed to the CIA.



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