Slovakia’s gross domestic product advanced 1.8 percent year-on-year in the second quarter of 2022, easing from the 3.1 percent growth in the previous three-month period and slightly above preliminary estimates of a 1.7 percent rise. The expansion of the Slovak economy was strongly supported by a 2.1 percent increase in domestic demand, with household consumption growing 4.1 percent, while gross capital formation grew by 5.7 percent. On the other hand, government expenditure fell by a sharp 7.2 percent, while foreign demand continued to decline in the second quarter. On a seasonally adjusted quarterly basis, the economy expanded by 0.5 percent, advancing from the 0.4 percent growth in the previous quarter and revised upwards from the preliminary reading of 0.4 percent. source: Statistical Office of the Slovak Republic

GDP Annual Growth Rate in Slovakia averaged 3.49 percent from 1996 until 2022, 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 September of 2022.

GDP Annual Growth Rate in Slovakia is expected to be 1.80 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 2.50 percent in 2023 and 2.70 percent in 2024, according to our econometric models.

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Slovakia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-16 07:00 AM YoY Prel Q2 1.7% 3.1% 1% 0.7%
2022-09-06 07:00 AM YoY Final Q2 1.8% 3.1% 1.7%
2022-11-16 08:00 AM YoY Prel Q3 1.8% 1.8%


Related Last Previous Unit Reference
GDP Growth Rate 0.50 0.40 percent Jun 2022
GDP Annual Growth Rate 1.80 3.10 percent Jun 2022
GDP Constant Prices 22.40 20.64 EUR Million Jun 2022
Gross Fixed Capital Formation 4.14 3.55 EUR Billion Jun 2022
Full Year GDP Growth 3.00 -4.40 percent Dec 2021
GDP from Services 4289.00 3842.00 EUR Million Jun 2022
GDP from Public Administration 2.97 2.88 EUR Billion Jun 2022
GDP from Manufacturing 4304.00 4754.00 EUR Million Jun 2022
GDP from Construction 1168.00 513.00 EUR Million Jun 2022
GDP from Agriculture 0.41 0.29 EUR Billion Jun 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
1.80 3.10 13.60 -10.90 1996 - 2022 percent Quarterly
NSA

News Stream
Slovakia Q2 GDP Revised Higher
Slovakia’s gross domestic product advanced 1.8 percent year-on-year in the second quarter of 2022, easing from the 3.1 percent growth in the previous three-month period and slightly above preliminary estimates of a 1.7 percent rise. The expansion of the Slovak economy was strongly supported by a 2.1 percent increase in domestic demand, with household consumption growing 4.1 percent, while gross capital formation grew by 5.7 percent. On the other hand, government expenditure fell by a sharp 7.2 percent, while foreign demand continued to decline in the second quarter. On a seasonally adjusted quarterly basis, the economy expanded by 0.5 percent, advancing from the 0.4 percent growth in the previous quarter and revised upwards from the preliminary reading of 0.4 percent.
2022-09-06
Slovak Q2 GDP Growth Above Forecasts
Slovakia's gross domestic product advanced by 1.7 percent year-on-year in the second quarter of 2022, following a 3.1 percent growth in the previous three-month period and above market expectations of a 1 percent rise, a preliminary estimate showed. The expansion of the Slovak economy was supported mainly by domestic demand, particularly household consumption. Meanwhile, foreign demand continued to decrease. On the production side, growth was recorded in the manufacture of rubber and plastic products, wholesale trade, retail trade and warehousing and support activities for transportation. Conversely, a decline was recorded in the most important industry, the manufacture of motor vehicles. On a seasonally adjusted quarterly basis, the economy expanded by 0.4 percent, the same pace as in the previous quarter.
2022-08-16
Slovak Q1 GDP Growth Confirmed at 3.1%
Slovakia's gross domestic product advanced 3.1% year-on-year in the first quarter of 2022, matching preliminary estimates, and following a 1.4% growth in the previous three-month period. The expansion was supported mainly by domestic demand, in particular household consumption (9.1% vs 2.8% in Q4) and investment activity (6.4% vs 6%). However net foreign demand contributed negatively, as exports fell by 4.5% on year while imports declined at a softer 1.3%. Overall, as for the 10 sectors of the economy, 7 of them recorded a year-on-year increase, but only 4 sectors exceeded the pre-pandemic level, namely wholesale and retail trade (+15%), real estate activities (+2.7%), information and communication (+3.4%), and public administration and defense (1.5%).On a seasonally adjusted quarterly basis, the economy rose 0.4 percent, advancing from a 0.3 percent increase in the fourth quarter of 2021.
2022-06-07