Skyline of Bratislava, Slovakia

Slovakia Imports

Slovakia Imports

Imports in Slovakia

Slovakia recorded an average growth rate of 4.2% in imports over the decade to 2022, above the Euro Area's average of 4.0%. In 2022, Slovakia's imports growth was 4.2%. For more imports information, visit our dedicated page.

Slovakia Imports Chart

Note: This chart displays Imports (G&S, ann. var. %) for Slovakia from 2013 to 2022.
Source: Slovakia Statistical Office.

Slovakia Imports Data

2018 2019 2020 2021 2022
Imports (G&S, ann. var. %) 4.8 2.2 -8.1 11.7 4.2

GDP grows at softer-than-expected pace in Q3

A second national accounts release revealed the Slovak economy expanded at a slower rate than initially estimated in the third quarter, with GDP growing 1.1% year on year. The result was a deterioration from both the 1.5% expansion tallied in the second quarter and from the preliminary estimate of a 2.0% increase. On a seasonally adjusted quarter-on-quarter basis, economic growth waned to 0.2% in Q3, following the previous period's 0.4% increase.

Household spending dropped at a slower pace of 1.8% year-on-year in Q3 from a 3.6% contraction in Q2. Public spending, meanwhile, rebounded, growing 2.9% in Q3 (Q2: -2.2% yoy). That said, fixed investment growth fell to 2.8% in Q3 (Q2: +12.4% yoy), marking the weakest reading since Q2 2022. On the external front, exports of goods and services rebounded, growing 0.1% year on year in the third quarter (Q2: -0.8% yoy). In addition, imports of goods and services slid at a milder rate of 4.0% in Q3 (Q2: -8.0% yoy). Both results marked the best readings since Q4 2022. Overall, net trade grew in Q3.

Domestic demand likely benefited from lower average inflation in Q3, which fell to the lowest since Q4 2021. However, higher interest rates and slower nominal wage growth capped the overall improvement in private spending. Our Consensus is for the economy to post a stronger year-on-year expansion in Q4, but tally only a moderate increase in 2023 as a whole.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Slovak imports projections for the next ten years from a panel of 14 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable imports forecast available for Slovak imports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Slovak imports projections.

Want to get access to the full dataset of Slovak imports forecasts? Send an email to info@focus-economics.com.

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