Slovakia's GDP annual growth was confirmed at 1.3 percent in the third quarter of 2019, after a 2.2 percent expansion in the previous three-month period. That was the weakest growth rate since the second quarter of 2013, due to a slowdown in household consumption (1.8 percent vs 2.7 percent) and government spending (3.7 percent vs 5.0 percent). In addition, net external demand contributed negatively to GDP growth as exports fell 0.2 percent (vs -0.9 percent in Q2) while imports rose 3.3 percent (vs 1.5 percent in Q2). On the other hand, fixed investment jumped 7.8 percent, compared to 2.4 percent in the second quarter. On a seasonally adjusted quarter-on-quarter basis, the economy advanced by 0.4 percent, compared to 0.3 percent in the previous period. GDP Annual Growth Rate in Slovakia averaged 3.91 percent from 1996 until 2019, reaching an all time high of 13.50 percent in the fourth quarter of 2007 and a record low of -6 percent in the second quarter of 2009. source: Statistical Office of the Slovak Republic

GDP Annual Growth Rate in Slovakia is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Slovakia to stand at 2.40 in 12 months time. In the long-term, the Slovakia GDP Annual Growth Rate is projected to trend around 2.70 percent in 2020, according to our econometric models.

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Slovakia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.30 2.20 13.50 -6.00 1996 - 2019 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-08-14 07:00 AM GDP Growth Rate YoY Prel Q2 1.9% 3.7% 3.3% 3.5%
2019-09-06 07:00 AM GDP Growth Rate YoY Final Q2 2% 3.7% 1.9%
2019-11-14 08:00 AM GDP Growth Rate YoY Prel Q3 1.3% 2.2% 2.3% 2.1%
2019-12-05 08:00 AM GDP Growth Rate YoY Final Q3 1.3% 2.2% 1.3% 1.3%
2020-02-14 08:00 AM GDP Growth Rate YoY Prel Q4 1.3% 2.2%


News Stream
2019-11-14
Slovak GDP Annual Growth at Over 6-Year Low
Slovakia's gross domestic product grew by 1.3 percent from a year earlier in the third quarter of 2019, easing from an upwardly revised 2.2 percent expansion in the previous three-month period and missing market expectations of 2.3 percent, a preliminary estimate showed. That was the weakest growth rate since the second quarter of 2013. On a seasonally adjusted quarter-on-quarter basis, the economy advanced by 0.4 percent, compared to 0.3 percent in the previous period.

2019-09-06
Slovak Q2 GDP Growth Revised Higher to 2%
Slovakia’s economy advanced 2.0% year-on-year in the second quarter of 2019, slowing from a 3.7% expansion in the previous period and higher than a preliminary estimates of 1.9%. On the production side, total industry output fell (-0.3% vs 4.1% in Q1), particularly manufacturing (-1.1% vs 4.2%) while public administration and defence; compulsory social security; education; human health and social work activities production advanced at a softer pace (6.5% vs 7.5%). On the other hand, wholesale and retail trade output increased faster (1.5% vs 0.5%). On the expenditure approach, gross fixed capital formation fell (-3.8% vs 2.1 %) while both household (1.9% vs 1.0%) and government consumption rose faster (4.2% vs 1.5%). Regarding net trade, exports dropped 1.9% (from 7.2% in Q1) while imports advanced 0.8% (from 6.4% in Q1). On a seasonally adjusted quarterly basis, the economy grew 0.5%, easing from a 0.7% rise in the previous quarter but higher than a preliminary estimates of 0.4%.

2019-08-14
Slovak GDP Annual Growth Weakest in 6 Years
The Slovak economy advanced 1.9 percent year-on-year in the second quarter of 2019, slowing sharply from a 3.7 percent growth in the previous three-month period and well below market expectations of 3.3 percent, the preliminary estimate showed. It was the slowest expansion since the third quarter of 2013. On a seasonally adjusted quarterly basis, the GDP rose 0.4 percent, after a downwardly revised 0.7 percent growth in the previous quarter.

2019-06-06
Slovak Q1 GDP Growth Confirmed at 3.7%
Slovakia's annual economic growth was confirmed at 3.7 percent in the first quarter of 2019, slightly above the previous three-month period's expansion of 3.6 percent. Net external demand was the main contributor to the expansion as exports rose 7.2 percent (vs 4.7 percent in Q4 2018), faster than a 6.4 percent increase in imports (vs 7.8 percent in Q4). On the other hand, domestic demand growth slowed to 2.3 percent from 5.8 percent, in particular household consumption (1.0 percent vs 3.4 percent), fixed investment (2.1 percent vs 9.0 percent) and government spending (1.5 percent vs 3.8 percent). On a seasonally adjusted quarterly basis, the economy grew 0.9 percent.

2019-05-15
Slovak Economy Grows 3.7% in Q1
The Slovak economy expanded 3.7 percent year-on-year in the first quarter of 2019, following a 3.6 percent growth in the previous three-month period and beating market expectations of 3.6 percent, the preliminary estimate showed. On a seasonally adjusted quarterly basis, the GDP rose 0.9 percent, after a 0.8 percent advance in the previous period.

2019-03-07
Slovakia GDP Growth Confirmed at 3.6% in Q4
The Slovak economy grew 3.6 percent year-on-year in the fourth quarter of 2016, unrevised from a preliminary estimate, slowing from a 4.6 percent expansion in the previous quarter and matching market expectations. It was the weakest growth rate since the third quarter of 2017, as imports rose 7.8 percent (vs 5.4 percent in Q3) and exports increased at a softer 4.7 percent (vs 5.6 percent in Q3). Meantime, household consumption (3.4 percent vs 3.2 percent) and government spending (3.8 percent vs 1.6 percent) advanced further. Also, fixed investment grew 9 percent, after shrinking 5.7 percent in the third quarter of the year. On a seasonally adjusted quarterly basis, the GDP increased 0.8 percent, in line with the preliminary reading and easing from a 1 percent growth in the prior period. In 2018, the economy advanced 4.1 percent over a year earlier.


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.

Slovakia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.30 7.40 -9.10 percent [+]
GDP Annual Growth Rate 1.30 2.20 13.50 -6.00 percent [+]
GDP 106.47 95.62 106.47 5.80 USD Billion [+]
GDP Constant Prices 23.22 21.79 23.22 8.56 EUR Million [+]
Gross Fixed Capital Formation 5.05 4.78 5.88 2.24 EUR Billion [+]
GDP per capita 20669.90 19882.50 20669.90 7675.59 USD [+]
GDP per capita PPP 31326.30 30132.92 31326.30 11632.75 USD [+]
GDP From Agriculture 0.93 0.66 1.20 0.20 EUR Billion [+]
GDP From Construction 2069.00 1415.00 2113.00 600.00 EUR Million [+]
GDP From Manufacturing 4267.00 5524.00 5587.00 1019.00 EUR Million [+]
GDP From Public Administration 2.99 2.55 2.99 1.35 EUR Billion [+]
GDP From Services 4199.00 3736.00 4199.00 1820.00 EUR Million [+]