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
| 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 | -0.02 | -4.12 % | Jun 20 |
| Exchange Rate | 1.13 | 0.65 % | Jun 20 |
| Stock Market | 345 | 0.0 % | Jun 20 |
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Economic News
Slovakia: Inflation speeds up in May
June 18, 2019
Consumer prices rose 0.3% month-on-month in May, up from April’s 0.2% increase.
Slovakia: Industrial production slows in April
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.
Slovakia: Growth ticks up in Q1 on upbeat external demand
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.
Slovakia: Inflation eases in April
May 17, 2019
Consumer prices rose 0.2% month-on-month in April, down from March’s 0.6% increase.
Slovakia: Growth ticks up in Q1
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.
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