GDP in Slovakia
Slovakia - GDP
Growth softens in Q4 amid a gloomier European backdrop
Detailed national accounts data released on 7 March showed that the economy grew 3.6% year-on-year in the fourth quarter, moderating from the third quarter’s 4.6% expansion and in line with analysts’ expectations. Despite well-anchored domestic dynamics, slower external demand from key European partners weighed on the headline reading.
Domestic demand rose 5.8% in the fourth quarter, markedly accelerating from the 3.7% year-on-year expansion recorded in the third quarter. Growth in private consumption increased from 3.2% in Q3 to 3.4% in Q4, underpinned by lower inflation and all-time low unemployment. In addition, fixed investment rebounded strongly from a quarter earlier (Q4: +9.0% yoy; Q3: -5.7% yoy), while government spending jumped (Q4: +3.8%, Q3: +1.6%).
Looking at the external sector, year-on-year export growth softened in Q4, coming in at 4.7% (Q3: +5.6% yoy), following a broad-base deceleration across the Eurozone’s largest economies. In contrast, imports accelerated in the quarter, expanding 7.8% after a 5.4% rise in Q3.
On a quarter-on-quarter, seasonally-adjusted basis, GDP growth in the fourth quarter came in at 0.8%, down from the 1.1% expansion in the third quarter.
FocusEconomics Consensus Forecast panelists expect GDP growth to reach 3.4% in 2019, which is unchanged from last month’s forecast, before moderating to 3.1% in 2020.
Slovakia - GDP Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 1.5 | 2.8 | 3.9 | 3.3 | 3.4 |
Slovakia GDP Chart
Source: Slovakia Statistical Office (SOSR) and FocusEconomics calculations.
Slovakia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.55 | -4.12 % | Jan 30 |
| Exchange Rate | 1.14 | 0.65 % | Jan 30 |
| Stock Market | 332 | 0.0 % | Jan 30 |
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Economic News
Slovakia: Inflation rises to six-month-high in March
April 17, 2019
Consumer prices rose 0.6% month-on-month in March, up from February’s 0.2% increase.
Slovakia: Industrial production eases in February
April 10, 2019
Industrial production rose 5.6% on an annual basis in February, moderating from January’s 7.2% increase.
Slovakia: Harmonized inflation edges up in February
March 15, 2019
Consumer prices rose 0.2% month-on-month in February, down from January’s 1.1% increase.
Slovakia: Industrial production jumps in January
March 11, 2019
Industrial production rose 7.2% on an annual basis in January, markedly up from December’s revised 4.3% increase (previously reported: +3.1% year-on-year).
Slovakia: Growth softens in Q4 amid a gloomier European backdrop
March 7, 2019
Detailed national accounts data released on 7 March showed that the economy grew 3.6% year-on-year in the fourth quarter, moderating from the third quarter’s 4.6% expansion and in line with analysts’ expectations.
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