Skyline of Bratislava, Slovakia

Slovakia GDP Q3 2023

Slovakia: Fastest GDP growth since Q1 2022 in Q3

According to a preliminary estimate, GDP growth gained momentum to 2.0% year on year in the third quarter from 1.2% in the second quarter. Q3’s reading marked the best result since Q1 2022. On a seasonally adjusted quarter-on-quarter basis, economic growth picked up to 1.1% in Q3, following the previous period’s 0.5% growth. Q3’s reading marked the best result since Q2 2021.

A full breakdown will not be available until 5 December. However, the statistical office said that net trade had driven growth in Q3; in contrast, domestic demand decreased due to a slowdown in private spending and a fall in inventories.

Marian Kociš, analyst at Erste Group, said:

“For 2023, we expect GDP growth will be around 1.3% year on year thanks to the expected fiscal stimulus of EUR 5 billion from EU funds (approximately 5% of GDP). The determining factor remains the country’s ability to efficiently and quickly absorb these resources.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest