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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
GDP105.17 bn USD19,266.51 USD15,291.93 tn USD29,692.11 USD
Gross national product103.28 bn USD18,920.56 USD15,330.84 tn USD29,767.66 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 debt62.83 bn USD11,510.18 USD13,783.28 tn USD26,762.78 USD
Budget deficit5.78 bn USD1,059.13 USD1,053.73 bn USD2,046.02 USD


Im- and Exports 2020

 Slovakia
Total
Slovakia
per capita
EU
Total
EU
per capita
Imports88.05 bn USD16,129.86 USD7,340.01 bn USD14,251.98 USD
Exports90.53 bn USD16,583.55 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in billion US dollars 1993 - 2020

Exports
Imports



Slovakia: AirportsLargest airports and airlines in SlovakiaThe 2 biggest airports and 3 airlines in Slovakia with further information and data (M. R. Štefánik and Košice)
Slovakia: Public HolidaysPublic holidays in Slovakia 2022-2026Statutory and inofficial holidays in Slovakia for 2022 to 2026
Pariah StatesList of the 11 current Pariah States11 countries, which suffer from the sanctions of the international community because of their mostly autocratic government.