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World > Europe > Slovakia > Economy (Facts)

Slovakia - Economy (Facts)
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


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - Slovak Koruna Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
Slovak Koruna Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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