Slovakia - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Slovakia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Slovakia economy.


Overview Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.10 0.7 0.7 0.8 0.5 0.5 percent
Unemployment Rate 5.40 5.5 5.4 5.4 5.2 5.1 percent
Inflation Rate 2.80 2.4 2.5 2.1 1.9 2 percent
Interest Rate 0.00 0 0 0 0 0.75 percent
Balance of Trade 9.40 370 70 360 130 250 EUR Million
Government Debt to GDP 50.90 50.5 50.5 49.6 49.6 48.2 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 1.17
1.16 1.15 1.15 1.14 1.12
Stock Market 325.29
points
343 338 333 328 310
Government Bond 10y 0.92
percent
0.85 0.89 0.93 0.98 1.18
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.10
percent
0.7 0.7 0.8 0.5 0.5
GDP Annual Growth Rate 4.20
percent
3.5 3.2 3.1 3.7 2.9
GDP 95.77
USD Billion
97 97 98 98 99
GDP Constant Prices 21.34
EUR Million
21.77 21.84 19.96 22.13 23.21
Gross Fixed Capital Formation 5.00
EUR Billion
4.94 5.38 4.04 5.19 5.72
GDP per capita 19897.15
USD
20130 20130 20590 20590 21040
GDP per capita PPP 30155.15
USD
31500 31500 31600 31600 31750
GDP From Agriculture 0.66
EUR Billion
1.1 0.54 0.53 0.69 0.58
GDP From Construction 1284.00
EUR Million
1819 2001 822 1332 2127
GDP From Manufacturing 5501.00
EUR Million
4822 4962 5170 5705 5274
GDP From Public Administration 2.39
EUR Billion
2.49 2.7 2.32 2.48 2.87
GDP From Services 3755.00
EUR Million
3952 3260 3522 3894 3465
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 5.40
percent
5.5 5.4 5.4 5.2 5.1
Employed Persons 2556.00
Thousand
2564 2561 2562 2570 2577
Unemployed Persons 148935.00
146347 140630 137949 134651 122648
Labor Force Participation Rate 93.40
percent
93.24 93.49 93.76 94.05 94.62
Long Term Unemployment Rate 4.40
percent
3.92 3.86 3.63 3.51 3.07
Youth Unemployment Rate 18.30
percent
18.53 18.65 18.7 18.73 18.75
Labour Costs 111.20
Index Points
106 120 119 115 126
Productivity 116.80
Index Points
116 116 116 115 115
Wages 1128.00
EUR/Month
1060 1140 1110 1074 1220
Wages in Manufacturing 1092.00
EUR/Month
1045 1100 1060 1073 1170
Minimum Wages 480.00
EUR/Month
480 480 525 525 560
Population 5.44
Million
5.45 5.44 5.44 5.44 5.45
Retirement Age Women 62.42
62.42 62.42 62.67 63 63
Retirement Age Men 62.42
62.42 62.42 62.67 63 63
Living Wage Family 630.00
EUR/Month
650 650 685 625 685
Living Wage Individual 445.00
EUR/Month
442 441 442 442 443
Part Time Employment 141.90
Thousand
146 147 148 149 159
Wages High Skilled 1390.00
EUR/Month
1440 1440 1440 1830 1500
Wage Growth 3.50
percent
3.6 3.8 3.4 3.5 3.3
Wages Low Skilled 610.00
EUR/Month
660 660 660 763 680
Employment Change 0.50
percent
0.24 0.2 0.2 0.21 0.26
Employment Rate 67.10
percent
67.56 67.51 67.94 68.08 68.51
Full Time Employment 2372.10
Thousand
2378 2379 2380 2382 2383
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 2.80
percent
2.4 2.5 2.1 1.9 2
Inflation Rate Mom 0.20
percent
0.1 0.3 0.4 0.3 0.4
Harmonised Consumer Prices 103.77
Index Points
103 104 105 106 109
Consumer Price Index CPI 169.40
Index Points
169 170 172 172 177
Core Consumer Prices 122.60
Index Points
122 123 124 125 128
Core Inflation Rate 3.20
percent
2.9 2.4 2.2 2 2
GDP Deflator 106.08
Index Points
106 107 107 108 111
Producer Prices 107.30
Index Points
106 107 109 110 115
Export Prices 100.30
Index Points
99.86 99.87 99.87 99.87 99.87
Import Prices 100.30
Index Points
101 101 101 101 101
Producer Prices Change 6.90
percent
4.2 3.8 3.5 3.6 3.6
CPI Housing Utilities 239.80
Index Points
240 241 243 244 251
CPI Transportation 133.90
Index Points
127 127 130 134 132
Food Inflation 3.60
percent
5 4.8 4.5 3.13 4.8
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 0.00
percent
0 0 0 0 0.75
Money Supply M0 11.41
EUR Billion
11.37 11.37 11.37 11.37 11.37
Money Supply M1 49.10
EUR Billion
49.59 50.53 51.45 52.37 61.26
Money Supply M2 62.10
EUR Billion
62.54 63.24 63.94 64.65 71.72
Money Supply M3 62.30
EUR Billion
62.85 63.62 64.43 65.24 73.15
Banks Balance Sheet 79745.00
EUR Million
79713 79682 79686 79685 79684
Foreign Exchange Reserves 3900.00
USD Million
3924 3949 3957 3959 3960
Loans to Private Sector 19188.00
EUR Million
19322 19591 19826 20035 21201
Private Debt to GDP 132.33
percent
136 136 138 139 149
Central Bank Balance Sheet 40363.00
EUR Million
41046 42442 43588 44608 50047
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 9.40
EUR Million
370 70 360 130 250
Exports 6010.00
EUR Million
6750 5850 7250 6550 6400
Imports 6001.00
EUR Million
6380 5780 6890 6420 6150
Current Account -379.70
EUR Million
15 -300 400 -250 -250
Current Account to GDP -2.10
percent
0.7 0.7 1 1 0.9
External Debt 96.12
EUR Billion
102 106 110 113 136
Terms of Trade 99.94
Index Points
99.22 99.13 99.13 99.13 99.13
Foreign Direct Investment 451.30
EUR Million
340 344 344 345 345
Capital Flows -733.60
EUR Million
-148 -140 -151 -143 -142
Gold Reserves 31.70
Tonnes
31.7 31.7 31.7 31.7 31.7
Terrorism Index 0.23
0.29 0.38 0.45 0.52 1.22
Weapons Sales 22.00
USD Million
12.8 14.98 15.83 16.68 16.31
Crude Oil Production 0.20
BBL/D/1K
0.2 0.2 0.2 0.2 0.2
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 50.90
percent
50.5 50.5 49.6 49.6 48.2
Government Budget -1.00
percent of GDP
-0.8 -0.8 -1.74 -1.73 0.5
Government Budget Value -742.62
EUR Million
-829 -1016 -933 -911 -947
Government Spending 3.62
EUR Billion
3.57 4.51 3.48 3.75 4.79
Government Spending to GDP 40.40
percent
41.69 42.07 42.09 42.11 40.53
Government Revenues 8960.78
EUR Million
8161 6091 6561 6884 6694
Government Debt 1565.00
EUR Million
462 475 627 718 492
Fiscal Expenditure 9703.40
EUR Million
8990 7171 7495 7795 7641
Military Expenditure 1097.60
USD Million
1065 1080 1066 1052 964
Asylum Applications 5.00
persons
15.37 15.24 15.24 15.24 15.24
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 0.30
Index Points
4.5 5.1 4.7 1.33 1
Industrial Production 2.00
percent
2.66 1.5 2.81 2.82 1.6
Manufacturing Production 3.60
percent
3.63 3.69 3.7 3.71 3.71
Capacity Utilization 84.00
percent
84.63 83.83 82.41 81.25 75.22
Car Registrations 9467.00
8203 8245 8355 8326 8325
Internet Speed 13037.49
KBps
12254 12598 12130 12052 12219
IP Addresses 898295.00
IP
880827 886192 890342 890492 906872
Industrial Production Mom -0.90
percent
0.51 0.48 0.49 0.49 0.49
Mining Production -4.50
percent
-1.47 -0.83 -0.68 -0.63 -0.61
New Orders 3651.70
EUR Million
4425 4482 4471 4467 4470
Steel Production 440.00
Thousand Tonnes
422 413 411 410 410
Changes In Inventories 0.28
EUR Billion
0.69 -0.7 0.15 0.24 -0.39
Competitiveness Index 4.33
Points
4.33 4.33 4.36 4.37 4.43
Competitiveness Rank 59.00
65 65 57 54 55
Ease of Doing Business 39.00
36 35 36 37 39
Electricity Production 1766.00
Gigawatt-hour
2101 2268 2165 2130 2160
Corruption Index 50.00
Points
49 49 49 48 48
Corruption Rank 54.00
57 58 57 57 55
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Consumer Confidence -3.50
Index Points
-3.7 -5.5 -6.3 -7.2 -10
Retail Sales MoM 1.60
percent
0.3 0.6 0.29 0.28 0.4
Retail Sales YoY 4.30
percent
3.35 1.5 3.58 3.53 0.8
Consumer Spending 10.63
EUR Billion
10.73 10.95 10.72 11.02 11.64
Disposable Personal Income 11725.00
EUR Million
11727 12688 11729 12686 12675
Personal Savings 314.00
EUR Million
1064 1226 1166 1188 1183
Consumer Credit 6593.00
EUR Million
6670 6787 6903 7019 8175
Bank Lending Rate 2.75
percent
2.75 2.75 2.75 2.75 3.5
Economic Optimism Index 99.90
Index points
98.82 98.05 97.19 97.05 96.78
Gasoline Prices 1.64
USD/Liter
1.67 1.58 1.49 1.41 1.11
Households Debt To Income 63.11
percent
65.19 66.43 67.32 68.21 76.23
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Construction Output 9.60
percent
3.5 1.9 3.08 3.05 2.2
Housing Index 119.57
Index Points
120 120 119 120 119
Home Ownership Rate 89.50
percent
88.81 88.82 88.72 88.62 88.03
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 21.00
percent
21 21 21 21 21
Personal Income Tax Rate 25.00
percent
25 25 25 25 25
Sales Tax Rate 20.00
percent
20 20 20 20 20
Social Security Rate 48.60
percent
48.6 48.6 49 49 49
Social Security Rate For Companies 35.20
percent
35.2 35.2 35.2 35.2 35.2
Social Security Rate For Employees 13.40
percent
13.4 13.4 13.4 13.4 13.4
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature 1.43
celsius
16.28 3 -1.28 12.97 7.73
Precipitation 15.61
mm
80.84 56.99 42.47 62.93 65.61