Economy - overview:
Slovakia has made significant economic reforms since its separation from the Czech Republic in 1993. With a population of 5.4 million, the Slovak Republic has a small, open economy, with exports, at about 92% of GDP, serving as the main driver of GDP growth. Slovakia joined the European Union (EU) in 2004 and the Eurozone in 2009. The country’s banking sector is sound. Slovakia has led the region garnering FDI, because of its relatively low-cost, highly-skilled labor force, reasonable tax rates, and favorable geographic location in the heart of Central Europe. However, recent increases in corporate taxes, as well as changes to the Labor Code, slow dispute resolution, and ongoing corruption potentially threaten the attractiveness of the Slovak market. Moreover, the energy sector is characterized by high costs, unpredictable regulatory oversight, and growing government interference.

GDP (purchasing power parity):
$159.6 billion (2015 est.) $154.7 billion (2014 est.) $151.1 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 72
[see also: GDP country ranks ]

GDP (official exchange rate):
$86.2 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.2% (2015 est.) 2.4% (2014 est.) 1.4% (2013 est.)
country comparison to the world: 95
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$29,500 (2015 est.) $28,600 (2014 est.) $27,900 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 61
[see also: GDP - per capita country ranks ]

Gross national saving:
21.4% of GDP (2015 est.) 21% of GDP (2014 est.) 22.2% of GDP (2013 est.)
country comparison to the world: 77
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 56.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.2%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.5%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 101.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -97.9% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 3.4%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 30.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 66.2% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

Industries:
automobiles; metal and metal products; electricity, gas, coke, oil, nuclear fuel; chemicals, synthetic fibers, wood and paper products; machinery; earthenware and ceramics; textiles; electrical and optical apparatus; rubber products; food and beverages; pharmaceutical

Industrial production growth rate:
4.5% (2015 est.)
country comparison to the world: 39
[see also: Industrial production growth rate country ranks ]

Labor force:
2.729 million (2015 est.)
country comparison to the world: 109
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 3.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 25.9%
[see also: Labor force - by occupation - industry country ranks ]
services: 70.6% (2014)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
10.9% (2015 est.) 12.8% (2014 est.)
country comparison to the world: 121
[see also: Unemployment rate country ranks ]

Population below poverty line:
20.5% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 4.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 26% (2013 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
25.3 (2012) 25.7 (2011)
country comparison to the world: 138
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $32.66 billion
[see also: Budget revenues country ranks ]
expenditures: $35.71 billion (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
37.9% of GDP (2015 est.)
country comparison to the world: 49
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.5% of GDP (2015 est.)
country comparison to the world: 129
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
53.1% of GDP (2015 est.) 53.6% of GDP (2014 est.)
note: data cover general Government Gross Debt, and includes debt instruments issued (or owned) by Government entities, including sub-sectors of central government, state government, local government, and social security funds.
country comparison to the world: 71
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.2% (2015 est.) -0.1% (2014 est.)
country comparison to the world: 28
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.05% (10 September 2014) 0.3% (13 November 2013)
note: this is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks from the euro area; Slovakia became a member of the Economic and Monetary Union (EMU) on 1 January 2009
country comparison to the world: 143
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3.2% (31 December 2015 est.) 3.2% (31 December 2014 est.)
country comparison to the world: 167
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$38.6 billion (31 December 2015 est.) $41.69 billion (31 December 2014 est.)
note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
country comparison to the world: 56
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$64.13 billion (31 December 2014 est.) $62.69 billion (31 December 2013 est.)
country comparison to the world: 64
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$60.61 billion (31 December 2015 est.) $65.76 billion (31 December 2014 est.)
country comparison to the world: 58
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$5.172 billion (31 December 2014 est.) $4.04 billion (31 December 2013) $4.611 billion (31 December 2012 est.)
country comparison to the world: 86
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$123 million (2015 est.) $50 million (2014 est.)
country comparison to the world: 50
[see also: Current account balance country ranks ]

Exports:
$74.06 billion (2015 est.) $76.07 billion (2014 est.)
country comparison to the world: 41
[see also: Exports country ranks ]

Exports - commodities:
vehicles and related parts 25%, machinery and electrical equipment 21%, nuclear reactors and furnaces 12%, iron and steel 5%, mineral oils and fuels 5% (2014 est.)

Exports - partners:
Germany 23.3%, Czech Republic 13.6%, Poland 8.8%, Hungary 6.6%, Austria 6.5%, UK 5.4%, France 5.2%, Italy 4.8% (2014)

Imports:
$70.82 billion (2015 est.) $72.01 billion (2014 est.)
country comparison to the world: 39
[see also: Imports country ranks ]

Imports - commodities:
machinery and electrical equipment 19%, vehicles and related parts 13%, nuclear reactors and furnaces 12%, fuel and mineral oils 11% (2014 est.)

Imports - partners:
Germany 19%, Czech Republic 16.9%, Austria 9.3%, Russia 7.9%, Poland 6.2%, Hungary 6.2%, South Korea 4.2%, China 4% (2014)

Reserves of foreign exchange and gold:
$2.798 billion (31 December 2015 est.) $2.614 billion (31 December 2014 est.)
country comparison to the world: 108
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$82.29 billion (31 December 2014 est.) $82.37 billion (31 December 2013 est.)
country comparison to the world: 55
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$63.27 billion (31 December 2015 est.) $60.67 billion (31 December 2014 est.)
country comparison to the world: 53
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$10.63 billion (31 December 2015 est.) $10.43 billion (31 December 2014 est.)
country comparison to the world: 59
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
euros (EUR) per US dollar - 0.89 (2015 est.) 0.75 (2014 est.) 0.76 (2013 est.) 0.78 (2012 est.) 0.72 (2011 est.)