Slovakia: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developed |
| Economic Trivia | The service industry employs about 69% of the population and contributes over 61% of Slovakia's GDP. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2019): Germany, Czechia, and Poland |
| Top Industries Source: CIA World Factbook | Metal and Metal Products; Food and Beverages; Electricity; Gas |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $173,767,535,169 (2020) |
| GDP Growth Rate (annual %) | -4.754% (2020) |
| GDP Per Capita, PPP (current international) | $31,832 (2020) |
GDP Country Rank 73/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 1.937% (2020) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 49.7% (2019) |
| Real Interest Rate (5 year average %) | 7.412% (2016) |
| Manufacturing, value added (% of GDP) | 16.566% (2020) |
| Current Account Balance (BoP, current US$) | ($294,411,504) (2020) |
Labor and Employment [1]
| Labor Force, Total | 2,722,540 (2020) |
| Employment in Agriculture (% of total employment) | 2.103% (2020) |
| Employment in Industry (% of total employment) | 36.063% (2020) |
| Employment in Services (% of total employment) | 61.834% (2020) |
| Unemployment Rate | 6.79% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $88,781,930,398 (2020) |
| Exports of goods and services (current US$) | $89,627,888,808 (2020) |
| Total Merchandise Trade (% of GDP) | 163.195% (2020) |
| FDI, net inflows (BoP, current US$) | $2,312,686,694 (2019) |
| Commercial Service Exports (current US$) | $10,084,821,508 (2020) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Slovakia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.