| 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 | 1.87% (2005 est.) |
|
| GDP - real growth rate | 8.3% (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) |
|
Distribution of family income
- Gini index | 25.8 (1996) |
|
| 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 -
production by source | fossil fuel: 30.3%
hydro: 16%
nuclear: 53.6%
other: 0% (2001) |
|
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 | 2,160 bbl/day (2004) |
|
| Oil - imports | 59,000 bbl/day (2004) |
|
| Oil - proved reserves | 9 million bbl (1 January 2006) |
|
| 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 26.2%, Czech Republic 14.1%, Austria 7.1%, Italy 6.7%, Poland 6.3%, Hungary 5.7% (2005) |
|
| 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 25.1%, Czech Republic 19.3%, Russia 10.5%, Austria 6.1%, Poland 4.7%, Hungary 4.6%, Italy 4.5% (2005) |
|
| 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 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 |
|
