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 0.90 0.7 0.7 0.9 0.9 0.5 percent
Unemployment Rate 5.40 5.5 5.4 5.4 5.2 5.1 percent
Inflation Rate 2.80 1.9 2.2 2 2.1 2 percent
Interest Rate 0.00 0 0 0 0.25 0.75 percent
Balance of Trade 358.80 370 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 1.16
 1.14 1.13 1.11 1.09 1.02
Stock Market 342.47
points		 315 303 291 279 237
Government Bond 10y 0.67
percent		 0.76 0.86 0.98 1.11 1.82
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.90
percent		 0.7 0.7 0.9 0.9 0.5
GDP Annual Growth Rate 3.60
percent		 2.8 2.7 2.5 3.4 2.6
GDP 95.77
USD Billion		 97 97 98 98 99
GDP Constant Prices 20880.89
EUR Million		 20798 21254 21403 20949 22352
Gross Fixed Capital Formation 3.92
EUR Billion		 4.93 5.35 4.02 4.29 5.63
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 0.51
EUR Billion		 1.09 0.54 0.52 0.62 0.57
GDP From Construction 797.00
EUR Million		 1813 1991 817 1233 2094
GDP From Manufacturing 5015.00
EUR Million		 4805 4938 5140 5432 5193
GDP From Public Administration 2.25
EUR Billion		 2.48 2.68 2.3 2.36 2.82
GDP From Services 3416.00
EUR Million		 3938 3244 3501 3705 3412
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 2542.60
Thousand 		2560 2558 2559 2564 2571
Unemployed Persons 148090.00
 141931 136571 132848 129337 115211
Labor Force Participation Rate 92.90
percent		 93.6 93.85 94.13 94.56 95.36
Long Term Unemployment Rate 4.40
percent		 4.76 4.74 4.75 4.69 4.61
Youth Unemployment Rate 17.90
percent		 18.19 18.25 18.29 18.3 18.31
Labour Costs 115.30
Index Points		 106 120 119 115 126
Productivity 108.60
Index Points		 114 114 114 114 114
Wages 1138.00
EUR/Month		 1060 1140 1110 1074 1220
Wages in Manufacturing 1128.00
EUR/Month		 1045 1100 1060 1073 1170
Minimum Wages 480.00
EUR/Month		 480 480 525 517 560
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		 149 150 151 152 163
Wages High Skilled 1390.00
EUR/Month		 1440 1440 1440 1830 1500
Wage Growth 4.10
percent		 3.78 3.8 3.58 3.57 3.3
Wages Low Skilled 610.00
EUR/Month		 660 660 660 763 680
Employment Change 0.40
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		 2374 2376 2376 2377 2378
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 2.80
percent		 1.9 2.2 2 2.1 2
Inflation Rate Mom 0.10
percent		 0.2 0.3 0.4 0.3 0.4
Harmonised Consumer Prices 103.70
Index Points		 103 104 105 106 108
Consumer Price Index CPI 169.20
Index Points		 168 170 171 173 177
Core Consumer Prices 122.50
Index Points		 122 122 124 125 127
Core Inflation Rate 3.20
percent		 2.2 2 2.2 2 1.7
GDP Deflator 105.68
Index Points		 106 106 107 107 110
Producer Prices 105.70
Index Points		 105 106 108 108 112
Export Prices 99.70
Index Points		 100 100 100 100 100
Import Prices 100.10
Index Points		 100 100 100 100 100
Producer Prices Change 4.50
percent		 3.2 2.8 2.5 2.6 2.6
CPI Housing Utilities 239.00
Index Points		 239 241 243 244 251
CPI Transportation 131.50
Index Points		 127 127 130 134 132
Food Inflation 4.50
percent		 5 4.8 4.5 4.08 4.8
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 0.00
percent		 0 0 0 0.25 0.75
Money Supply M0 11.24
EUR Billion		 11.2 11.2 11.2 11.2 11.2
Money Supply M1 48.10
EUR Billion		 49.31 50.21 51.09 51.98 60.53
Money Supply M2 61.50
EUR Billion		 62.44 63.15 63.85 64.55 71.59
Money Supply M3 61.70
EUR Billion		 62.75 63.56 64.36 65.15 72.98
Banks Balance Sheet 79127.00
EUR Million		 78189 78191 78194 78195 78196
Foreign Exchange Reserves 3870.20
USD Million		 3920 3943 3951 3953 3954
Loans to Private Sector 18749.00
EUR Million		 18974 19122 19250 19363 19966
Private Debt to GDP 132.33
percent		 136 136 138 139 149
Central Bank Balance Sheet 37798.00
EUR Million		 39550 40453 41237 41906 45000
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade 358.80
EUR Million		 370 70 360 130 250
Exports 6795.00
EUR Million		 6750 5850 7250 6550 6400
Imports 6436.00
EUR Million		 6380 5780 6890 6420 6150
Current Account -124.50
EUR Million		 -105 -142 -130 -134 -133
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 99.63
Index Points		 99.83 99.83 99.83 99.83 99.83
Foreign Direct Investment 477.30
EUR Million		 387 385 385 385 385
Capital Flows 260.40
EUR Million		 -288 -248 -248 -249 -249
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 -573.91
EUR Million		 -1135 -962 -1059 -1026 -1019
Government Spending 3.38
EUR Billion		 3.55 4.49 3.46 3.65 4.72
Government Spending to GDP 40.40
percent		 41.69 42.07 42.09 42.11 40.53
Government Revenues 6582.40
EUR Million		 7362 6324 6561 6711 6618
Government Debt 485.00
EUR Million		 337 355 404 344 464
Fiscal Expenditure 7156.30
EUR Million		 8498 7225 7620 7737 7637
Military Expenditure 1097.60
USD Million		 1065 1080 1066 1052 964
Asylum Applications 10.00
persons		 15.37 15.24 15.24 15.24 15.24
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Business Confidence 1.30
Index Points		 4.5 5.1 4.7 3.39 1
Industrial Production 2.50
percent		 2.66 1.5 2.81 2.82 1.6
Manufacturing Production 3.80
percent		 3.63 3.69 3.7 3.71 3.71
Capacity Utilization 86.30
percent		 84.63 83.83 82.41 81.25 75.22
Car Registrations 9674.00
 8048 8179 8249 8225 8227
Internet Speed 13037.49
KBps		 12254 12598 12130 12052 12219
IP Addresses 898295.00
IP		 880827 886192 890342 890492 906872
Industrial Production Mom 0.20
percent		 0.49 0.48 0.49 0.49 0.49
Mining Production -7.90
percent		 -1.47 -0.83 -0.68 -0.63 -0.61
New Orders 4612.80
EUR Million		 4269 4182 4205 4206 4203
Steel Production 439.00
Thousand Tonnes		 413 409 408 407 407
Changes In Inventories 0.11
EUR Billion		 0.75 -0.67 0.18 0.46 -0.34
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 2141.00
Gigawatt-hour		 2209 2239 2217 2212 2217
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 -3.60
Index Points		 -5.2 -5.4 -5.8 -11.39 -10
Retail Sales MoM 0.70
percent		 0.24 0.6 0.29 0.29 0.4
Retail Sales YoY 3.50
percent		 3.54 1.5 3.58 3.59 0.8
Consumer Spending 10.40
EUR Billion		 10.69 10.89 10.66 10.76 11.46
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 6557.00
EUR Million		 6719 6840 6961 7082 8281
Bank Lending Rate 2.84
percent		 2.84 2.84 2.84 2.84 3.59
Economic Optimism Index 102.90
Index points		 102 102 102 102 102
Gasoline Prices 1.66
USD/Liter		 1.57 1.48 1.4 1.33 0.97
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 0.60
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