Slovak Republic: Export motors

Net exports are projected to rise markedly as production builds up at new automobile plants, pushing economic growth up to around 8% in 2006 and again in 2007. Unemployment is likely to continue to fall, albeit more slowly than in recent years. Headline inflation should decline to 2.25% by 2008.
Further monetary policy tightening may be needed to ensure that inflation targets are met. Greater fiscal consolidation in 2007 would both help to damp inflationary pressures and create a larger safety margin for respecting the Maastricht fiscal criteria. Labour market reforms are needed to bring the long-term unemployed back into employment.
Population (000s), 20055 387
Area (000 sq km)49
GDP (Billion USD), 200581
Life expectancy at birth (Women, Men), 200477.8, 70.3
Total labour force (000s), 20052 646
Government typeParliamentary Democracy
Indicators% change unless otherwise indicated
GDP growth8.28.05.7
Consumer price index4.52.82.2
Unemployment rate (%)13.512.211.7
General government financial balance
(% GDP)
Current account balance (% GDP)-6.4-3.9-3.3
Source: OECD©OECD Observer No. 258/259, December 2006

Economic data

GDP growth: -9.8% Q2/Q1 2020 2020
Consumer price inflation: 1.3% Sep 2020 annual
Trade (G20): -17.7% exp, -16.7% imp, Q2/Q1 2020
Unemployment: 7.3% Sep 2020
Last update: 10 Nov 2020

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