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Indicators of economy in Slovakia

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Slovakia, on the other hand, reached USD 21,392 per capita, or 116.53 billion USD for the whole country. Slovakia is therefore currently ranked 59 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Slovakia ranks 48th in the list of the richest countries.

Inflation in Slovakia in 2021 was around 3.15%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 23.3 percent lower.
The index for perceived corruption in the public sector is 52, which is rather mediocre by global standards.


Back to overview: Slovakia

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Slovakia in 2020 increased from 105.72 billion US dollars to 106.70 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 0.92 percent increase has been rather unusual this year. While most countries have suffered significant losses, Slovakia has certainly held its own. The tourism sector alone slumped by around 61 percent. The unemployment rate rose from 5.8 to 6.7 percent. The country's gross debt increased by 24.0 percent. The inflation rate fell from 2.7 percent previously to 1.9 percent by the end of 2020.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Slovakia
Total
Slovakia
per capita
EU
Total
EU
per capita
GDP116.53 bn USD21,391.93 USD17.177 tn USD33,384.92 USD
Gross national product112.42 bn USD20,638.73 USD16.895 tn USD32,835.37 USD


Slovakia ranked 44th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea.

Development of gross domestic product in billions of USD 1990 - 2021


Household debt and deficits 2021


 Slovakia
Total
Slovakia
per capita
EU
Total
EU
per capita
Gross debt72.45 bn USD13,300.57 USD15.068 tn USD29,285.70 USD
Budget deficit7.06 bn USD1,296.87 USD799.24 bn USD1,553.35 USD


Imports and Exports 2021

 Slovakia
Total
Slovakia
per capita
EU
Total
EU
per capita
Imports106.60 bn USD19,570.24 USD8.916 tn USD17,329.02 USD
Exports107.49 bn USD19,732.59 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1993 - 2021

Exports
Imports



Slovakia: AirportsLargest airports and airlines in SlovakiaThe 5 biggest airports and in Slovakia with further information and data with further information on airlines and destinations
Slovakia: Public HolidaysPublic holidays in Slovakia 2023-2027Statutory and inofficial holidays in Slovakia for 2023 to 2027
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.