Current Account in Slovakia

Slovakia Current Account | Economic News & Forecasts

Slovakia - Current Account

Growth picked up steam in Q4 2019, after falling to a near six-year low in Q3. Robust wage growth and tight labor market conditions should have buttressed private consumption, while healthy credit growth to non-financial corporations amid improved economic sentiment ought to have supported capital spending in the quarter. Meanwhile, industrial activity contracted at a quicker rate in Q4 compared to Q3, hampered by shriveling production in the all-important car sector amid muted external demand. Meanwhile, in politics, on 29 February the opposition Ordinary People party unexpectedly won Slovakia’s parliamentary election. The pro-EU and pro-NATO party, which ran on a firm anti-corruption agenda, won over one-third of parliamentary seats and is likely to form a center-right coalition ahead. The short-term economic outlook is unlikely to be significantly affected by changes in government, however.

Slovakia - Current Account Data

2014   2015   2016   2017   2018  
Current Account (% of GDP)1.0  -1.7  -2.1  -2.1  -2.4  

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Slovakia Current Account Chart

Slovakia Current Account
Note: Current account balance as % of GDP.
Source: Bank of Slovakia.

Slovakia Facts

Value Change Date
Bond Yield0.13-4.12 %Dec 31
Exchange Rate1.120.65 %Dec 31

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