Current Account in Slovakia
Slovakia - Current AccountGDP growth improved in the first quarter of this year. The acceleration was spearheaded by stronger domestic demand: Eased Covid-19 restrictions pushed up average annual retail sales growth to 16.0% in Q1 from 2.4% in Q4, pointing to healthier private spending growth. Less positively, the external sector weakened in Q1, weighing on the overall result. Turning to Q2, available data paints a mixed picture. Both business and consumer confidence improved in April, suggesting that private sector was broadly resilient to a slowing global economy and supply bottlenecks arising from the war in Ukraine and lockdowns in China. That said, inflation shot up to a record high in April and will likely remain at all-time highs in the coming months, in turn hurting household consumption in Q2. Meanwhile, on 23 May, S&P Global Ratings slashed the outlook of Slovakia’s A+ rating from stable to negative.
Slovakia - Current Account Data
|Current Account (% of GDP)||-1.7||-2.1||-2.1||-2.4||-2.9|
5 years of economic forecasts for more than 30 economic indicators.
Slovakia Current Account Chart
Source: Bank of Slovakia.
|Bond Yield||0.13||-4.12 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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September 16, 2022
Harmonized inflation increased to 13.4% in August, above July’s 12.8%.
September 9, 2022
Industrial output declined 6.4% year on year in July (June: -5.6% yoy).
September 6, 2022
GDP growth waned to 1.8% year on year in the second quarter, from 3.1% in the first quarter.
August 16, 2022
Flash GDP data shows that year-on-year growth almost halved in Q2, coming in at 1.7%, compared to the 3.1% increase in Q1.
August 15, 2022
Consumer prices rose 0.80% in July over the previous month, slowing down from June's 1.20% increase.