Slovakia - Economy
How is the economy of Slovakia? Based on the information we have, Slovakia has a high-income EU- and eurozone-member economy; manufacturing and exports led by automotive sector; weakening of anti-corruption laws may impact foreign investment and status of EU funds; influx of foreign labor offsets aging workforce; widening fiscal deficit from social spending and EU-financed public investments . Key agricultural products in this country include: wheat, sugar beets, milk, maize, barley, rapeseed, sunflower seeds, potatoes, soybeans, pork (2022).
More about the economy of Slovakia
Labor force 2.823 million (2023 est.)
Industrial production growth rate 15.61% (2023 est.)
Industries automobiles; metal and metal products; electricity, gas, coke, oil, nuclear fuel; chemicals, synthetic fibers, wood and paper products; machinery; earthenware and ceramics; textiles; electrical and optical apparatus; rubber products; food and beverages; pharmaceutical
Population below poverty line 13.7% (2021 est.)
Taxes and other revenues 19.5% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency euros (EUR) per US dollar -
Exchange rates 2023 0.925 (2023 est.)
Exchange rates 2022 0.95 (2022 est.)
Exchange rates 2021 0.845 (2021 est.)
Exchange rates 2020 0.876 (2020 est.)
Exchange rates 2019 0.893 (2019 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $11.288 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $10.28 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $9.61 billion (2021 est.)
Current account balance
Current account balance 2023 -$2.088 billion (2023 est.)
Current account balance 2022 -$8.452 billion (2022 est.)
Current account balance 2021 -$4.655 billion (2021 est.)
Public debt
Public debt 2022 64.51% of GDP (2022 est.)
Budget
Revenues $43.882 billion (2022 est.)
Expenditures $46.056 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 1.69% of GDP (2023 est.)
Remittances 2022 2% of GDP (2022 est.)
Remittances 2021 2.05% of GDP (2021 est.)
Household income
Lowest 10% 3.4% (2021 est.)
Highest 10% 19.2% (2021 est.)
Average household expenditures
On food 20% of household expenditures (2022 est.)
On alcohol and tobacco 5% of household expenditures (2022 est.)
Imports
Imports 2023 $118.869 billion (2023 est.)
Imports 2022 $120.622 billion (2022 est.)
Imports 2021 $109.265 billion (2021 est.)
Imports (partners) Czechia 18%, Germany 15%, Poland 9%, Russia 7%, Austria 7% (2022)
Comodities Imports force vehicle parts/accessories, broadcasting equipment, natural gas, cars, electricity (2022)
Exports
Imports 2023 $118.869 billion (2023 est.)
Imports 2022 $120.622 billion (2022 est.)
Imports 2021 $109.265 billion (2021 est.)
Exports (partners) Germany 20%, Czechia 11%, Hungary 9%, Poland 7%, France 6% (2022)
Comodities Exports force cars, vehicle parts/accessories, video displays, broadcasting equipment, electricity (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $213.053 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $209.705 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $205.856 billion (2021 est.)
GDP (official exchange rate) $132.794 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $39,300 (2023 est.)
Real GDP per capita 2022 $38,600 (2022 est.)
Real GDP per capita 2021 $37,800 (2021 est.)
GDP - composition, by sector of origin
Agriculture 2% (2023 est.)
Industry 32.7% (2023 est.)
Services 56.5% (2023 est.)
GDP - composition, by end use
Household consumption 58.9% (2023 est.)
Government consumption 20.1% (2023 est.)
Investment in fixed capital 22% (2023 est.)
Investment in inventories -2.3% (2023 est.)
Exports of goods and services 91.4% (2023 est.)
Imports of goods and services -90.1% (2023 est.)
Unemployment rate
Unemployment rate 2023 5.84% (2023 est.)
Unemployment rate 2022 6.14% (2022 est.)
Unemployment rate 2021 6.89% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 19.4% (2023 est.)
Male 21.6% (2023 est.)
Female 15.8% (2023 est.)
All Important Facts about Slovakia

Want to know more about Slovakia? Check all different factbooks for Slovakia below.

Slovakia is found in Central Europe