Slovakia’s economy expanded 0.9% year-on-year in the first quarter of 2023, easing from an upwardly revised 1.2% advance in the previous three-month period and in line with market expectations, preliminary estimates showed. It was the eighth consecutive quarter of economic growth, supported mainly by the surplus in foreign trade and growing investment demand. On a seasonally adjusted quarterly basis, the economy grew 0.2%, slightly lower than the 0.3% expansion in the previous quarter. source: Statistical Office of the Slovak Republic

GDP Annual Growth Rate in Slovakia averaged 3.42 percent from 1996 until 2023, reaching an all time high of 13.60 percent in the fourth quarter of 2007 and a record low of -10.90 percent in the second quarter of 2020. This page provides - Slovakia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Slovakia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

GDP Annual Growth Rate in Slovakia is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Slovakia GDP Annual Growth Rate is projected to trend around 1.80 percent in 2024 and 2.60 percent in 2025, according to our econometric models.

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Slovakia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-03-07 08:00 AM YoY Final Q4 1.1% 1.4% 1.1%
2023-05-16 07:00 AM YoY Prel Q1 0.9% 1.2% 0.9% 0.5%
2023-06-06 07:00 AM YoY Final Q1 1.2% 0.9% 0.9%


Related Last Previous Unit Reference
GDP Growth Rate 0.20 0.30 percent Mar 2023
GDP Annual Growth Rate 0.90 1.20 percent Mar 2023
GDP Constant Prices 23.48 23.77 EUR Million Dec 2022
Gross Fixed Capital Formation 5.83 4.94 EUR Billion Dec 2022
Full Year GDP Growth 1.70 3.00 percent Dec 2022
GDP from Services 3646.00 4394.00 EUR Million Dec 2022
GDP from Public Administration 3.30 3.35 EUR Billion Dec 2022
GDP from Manufacturing 4365.00 4308.00 EUR Million Dec 2022
GDP from Construction 1595.00 1291.00 EUR Million Dec 2022
GDP from Agriculture 0.32 0.63 EUR Billion Dec 2022

Slovakia GDP Annual Growth Rate
In Slovakia, the most important industries are engineering, chemical, electrotechnical engineering, wood-processing and food industry. On the expenditure side, household consumption is the main component of GDP and accounts for 57 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (19 percent). Exports of goods and services account for 92 percent of GDP while imports account for 88 percent, adding 4 percent of total GDP.
Actual Previous Highest Lowest Dates Unit Frequency
0.90 1.20 13.60 -10.90 1996 - 2023 percent Quarterly
NSA

News Stream
Slovakia GDP Grows 0.9% in Q1
Slovakia’s economy expanded 0.9% year-on-year in the first quarter of 2023, easing from an upwardly revised 1.2% advance in the previous three-month period and in line with market expectations, preliminary estimates showed. It was the eighth consecutive quarter of economic growth, supported mainly by the surplus in foreign trade and growing investment demand. On a seasonally adjusted quarterly basis, the economy grew 0.2%, slightly lower than the 0.3% expansion in the previous quarter.
2023-05-16
Slovak Q4 GDP Growth Confirmed at Near 2-Year Low
Slovakia’s gross domestic product advanced by 1.1% year-on-year in the fourth quarter of 2022, in line with an earlier flash estimate and compared to growth of 1.4% in the previous three-month period. It was the slowest economic expansion in seven quarters, mainly supported by private consumption (2.6% vs 1.5% in Q3), of which household consumption (4.7% vs 3%) and private investment (9.8% vs 8.2%). Meanwhile, GDP growth was negatively affected by external demand, as imports (8% vs 6.9%) rose much stronger than exports (2.6% vs 8.8%). On a seasonally adjusted quarterly basis, the economy expanded by 0.3%, also matching a preliminary estimate. Considering 2022 as a whole, the Slovak GDP grew by 1.7%, in line with the flash estimate, supported by significant household expenditure and by growing investment activities.
2023-03-07
Slovak Q4 GDP Growth Above Forecasts
Slovakia’s economy expanded by 1.1% from a year ago in the fourth quarter of 2022, decelerating from a 1.4% rise in the previous three-month period, but above market forecasts of 0.9%, preliminary estimates showed. It marks the eighth consecutive quarter of growth. On a seasonally adjusted quarterly basis, the GDP rose by 0.3%, the same pace as in the previous quarter. Considering 2022 as a whole, the economy grew by 1.7%, mainly supported by household consumption and fixed investment. Meanwhile, net external demand contributed negatively to the GDP growth, as imports rose more than exports.
2023-02-14