Indicators of economy in Slovakia
The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Slovakia reached 19.267 US dollars per inhabitant, or 105.17 bn US Dollar in the whole country. Slovakia is therefore currently ranked 62 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Slovakia is in the list of the world's richest countries in place 47.Inflation in Slovakia was in 2021 at around 3.15%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 22.5% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.
Back to overview: Slovakia
Impact of the Covid-19 pandemic in 2020
Overall, the gross domestic product in Slovakia in 2020 decreased moderatly from 105.28 billion US Dollar to 105.17 billion US Dollar. Certainly, there have been shifts in some sectors of the economy, but a minus of 0.11% is still comparatively good this year. Numerous countries suffered more substantial losses. 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%. The inflation rate has fallen from 2.7 percent previously to 1.9 percent by the end of 2020.Unemployment rates in percent 1991 - 2021
Economic performance 2020
Slovakia Total | Slovakia per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 105.17 bn USD | 19,266.51 USD | 15,291.93 tn USD | 29,692.11 USD |
Gross national product | 103.28 bn USD | 18,920.56 USD | 15,330.84 tn USD | 29,767.66 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 the Gross domestic product in billion US Dollar 1990 - 2020
Household debt and deficits 2020
Slovakia Total | Slovakia per capita | EU Total | EU per capita | |
---|---|---|---|---|
Gross debt | 62.83 bn USD | 11,510.18 USD | 13,783.28 tn USD | 26,762.78 USD |
Budget deficit | 5.78 bn USD | 1,059.13 USD | 1,053.73 bn USD | 2,046.02 USD |
› Debt budget development
› Development of inflation
› Corruption in Slovakia
› Cost of living in a global comparison
› Development of inflation
› Corruption in Slovakia
› Cost of living in a global comparison
Im- and Exports 2020
Slovakia Total | Slovakia per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 88.05 bn USD | 16,129.86 USD | 7,340.01 bn USD | 14,251.98 USD |
Exports | 90.53 bn USD | 16,583.55 USD | 7,939.04 bn USD | 15,415.11 USD |
Development of imports and exports in billion US dollars 1993 - 2020
Exports
Imports