GDP in Slovakia
Slovakia - GDP
Growth ticks up in Q1 on upbeat external demand
The economy got off to a good start in the first quarter of the year, amid upbeat external demand and despite an across-the-board slowdown in the domestic economy. GDP rose 3.7% year-on-year in Q1, edging up from Q4 2018’s 3.6% outturn, according to detailed national accounts data released on 6 June.
Domestic demand lost stride in the first quarter. Household spending reported the slowest expansion in over five years, against the backdrop of higher inflation and lower consumer sentiment (Q1: +1.0% year-on-year; Q4 2018: +3.4% yoy). Meanwhile, fixed investment growth plunged (Q1: +2.0% yoy; Q4: +9.0% yoy), owing to finished projects in the auto sector, while government consumption growth also more than halved (Q1: +3.8% yoy; Q4: +1.5% yoy).
The external sector, conversely, strengthened in the quarter on strengthening export growth and slumping import growth. Export growth accelerated to 7.2% year-on-year (Q4: +4.7% yoy), thanks to upbeat external demand and strong industrial production in the auto sector, while import growth slowed to 6.4% (Q4: +7.8% yoy).
On a quarter-on-quarter, seasonally-adjusted basis, GDP growth in the first quarter came in at 0.9%, up from the 0.8% expansion logged in Q4.
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
|Economic Growth (GDP, annual variation in %)||1.5||2.8||3.9||3.3||3.4|
5 years of economic forecasts for more than 30 economic indicators.
Slovakia GDP Chart
Source: Slovakia Statistical Office (SOSR) and FocusEconomics calculations.
|Bond Yield||-0.02||-4.12 %||Jun 20|
|Exchange Rate||1.13||0.65 %||Jun 20|
|Stock Market||345||0.0 %||Jun 20|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
June 18, 2019
Consumer prices rose 0.3% month-on-month in May, up from April’s 0.2% increase.
June 10, 2019
Industrial production grew 6.3% on an annual basis in April, decelerating from March’s 7.8% expansion (previously reported: +7.3% year-on-year), which had marked a two-year high.
June 6, 2019
The economy got off to a good start in the first quarter of the year, amid upbeat external demand and despite an across-the-board slowdown in the domestic economy.
May 17, 2019
Consumer prices rose 0.2% month-on-month in April, down from March’s 0.6% increase.
May 15, 2019
In the first quarter of the year, economic growth edged up to 3.7% on an annual basis (Q4 2018: +3.6% year-on-year), according to preliminary data released by the Central Statistics Office (KSH) on 15 May.