| Economy - overview: |
Slovakia has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The DZURINDA government made excellent progress during 2001-04 in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, and the government has helped facilitate a foreign investment boom with business friendly policies such as labor market liberalization and a 19% flat tax. Foreign investment in the automotive sector has been strong. Slovakia's economic growth exceeded expectations in 2001-06 despite the general European slowdown. Unemployment, at an unacceptable 18% in 2003-04, dropped to 10.2% in 2006 but remains the economy's Achilles heel. Slovakia joined the EU on 1 May 2004. |
| GDP - real growth rate: |
8.3% (2006 est.) |
| GDP (purchasing power parity): |
$99.19 billion (2006 est.) |
| GDP (official exchange rate): |
$47.72 billion (2006 est.) |
| GDP - per capita (PPP): |
$18,200 (2006 est.) |
| GDP - composition by sector: |
agriculture: 3.8%
industry: 31.4%
services: 64.8% (2006 est.) |
| Population below poverty line: |
21% (2002) |
| Household income or consumption by percentage share: |
lowest 10%: 3.1%
highest 10%: 20.9% (1996) |
| Inflation rate (consumer prices): |
4.4% (2006 est.) |
| Labor force: |
2.629 million (2006 est.) |
| Labor force - by occupation: |
agriculture 5.8%, industry 29.3%, construction 9%, services 55.9% (2003) |
| Unemployment rate: |
10.2% (2006 est.) |
| Budget: |
revenues: $24.57 billion
expenditures: $26.14 billion; including capital expenditures of NA (2006 est.) |
| Industries: |
metal and metal products; food and beverages; electricity, gas, coke, oil, nuclear fuel; chemicals and manmade fibers; machinery; paper and printing; earthenware and ceramics; transport vehicles; textiles; electrical and optical apparatus; rubber products |
| Industrial production growth rate: |
7.8% (2006 est.) |
| Electricity - production: |
31.29 billion kWh (2005) |
| Electricity - consumption: |
28.57 billion kWh (2005) |
| Electricity - exports: |
11.29 billion kWh (2005) |
| Electricity - imports: |
8.57 billion kWh (2005) |
| Oil - production: |
11,480 bbl/day (2005 est.) |
| Oil - consumption: |
74,000 bbl/day (2004 est.) |
| Oil - exports: |
77,660 bbl/day (2004) |
| Oil - imports: |
138,200 bbl/day (2004) |
| Oil - proved reserves: |
9 million bbl (1 January 2006) |
| Natural gas - production: |
135 million cu m (2005 est.) |
| Natural gas - exports: |
1 million cu m (2005 est.) |
| Natural gas - imports: |
6.5 billion cu m (2005 est.) |
| Agriculture - products: |
grains, potatoes, sugar beets, hops, fruit; pigs, cattle, poultry; forest products |
| Exports: |
$39.64 billion f.o.b. (2006 est.) |
| Exports - commodities: |
vehicles 25.9%, machinery and electrical equipment 21.3%, base metals 14.6%, chemicals and minerals 10.1%, plastics 5.4% (2004) |
| Exports - partners: |
Germany 23.7%, Czech Republic 14.1%, Italy 6.5%, Poland 6.2%, Austria 6%, Hungary 5.8%, France 4.3%, Netherlands 4.2% (2006) |
| Imports: |
$41.84 billion f.o.b. (2006 est.) |
| Imports - commodities: |
machinery and transport equipment 41.1%, intermediate manufactured goods 19.3%, fuels 12.3%, chemicals 9.8%, miscellaneous manufactured goods 10.2% (2003) |
| Imports - partners: |
Germany 23.6%, Czech Republic 18.2%, Russia 11%, Hungary 6%, Austria 5.5%, Poland 4.9%, Italy 4.4% (2006) |
| Debt - external: |
$31.5 billion (30 June 2006 est.) |
| Economic aid - recipient: |
$12.67 billion in available EU structural adjustment and cohesion funds (2007-13) |
| Currency: |
Slovak Koruna (SKK)
Current Slovak Koruna Exchange Rates
Historical Slovak Koruna Exchange Rates
Chart Slovak Koruna Exchange Rates |
| Currency code: |
SKK |
| Exchange rates: |
koruny per US dollar - 29.611 (2006), 31.018 (2005), 32.257 (2004), 36.773 (2003), 45.327 (2002) |
| Fiscal year: |
calendar year |
