Slovakia's gross domestic product grew 0.2 percent year-on-year in the first quarter of 2021, below a preliminary estimate of a 0.3 percent expansion and following a 2.1 percent contraction in the previous quarter. Despite the pandemics and the unfavorable epidemiological situation, a return to a slight economic recovery was visible during Q1, following the declines in all four quarters of last year, only due to foreign demand (especially in the field of automotive products). On the contrary, domestic demand had a dampening effect on the economic growth (down 4 percent), with household consumption falling 5.8 percent and government expenditure decreasing 1.8 percent. In addition gross fixed capital formation was lower by 10 percent. On a seasonally adjusted quarterly basis, the economy shrank 2 percent, more than earlier estimates of a 1.8 percent drop. source: Statistical Office of the Slovak Republic
GDP Annual Growth Rate in Slovakia averaged 3.48 percent from 1996 until 2021, 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 July of 2021.
GDP Annual Growth Rate in Slovakia is expected to be 10.00 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 7.50 in 12 months time. In the long-term, the Slovakia GDP Annual Growth Rate is projected to trend around 3.90 percent in 2022, according to our econometric models.