Short facts about the economy in Slovakia
| Economy -
overview: |
Slovakia continues the difficult
transition from a centrally planned economy to a modern market economy. The
economic slowdown in 1999 stemmed from large budget and current account
deficits, fast-growing external debt, and persistent corruption. Even though GDP
growth reached only 2.2% in 2000, the year was marked by positive developments
such as foreign direct investment of $1.5 billion, strong export performance,
restructuring and privatization in the banking sector, entry into the OECD, and
initial efforts to stem corruption. Strong challenges face the government in
2001, especially the maintenance of fiscal balance, the further privatization of
the economy, and the reduction of unemployment. |
| GDP: |
purchasing power parity - $55.3 billion
(2000 est.) |
| GDP - real
growth rate: |
2.2% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $10,200 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 4.5%
industry: 29.3%
services: 66.2% (1999
est.) |
| Population
below poverty line: |
NA% |
| Household
income or consumption by percentage share: |
lowest 10%: 5.1%
highest 10%: 18.2%
(1992) |
| Inflation
rate (consumer prices): |
12.2% (2000
est.) |
| Labor
force: |
3 million
(1999) |
| Labor force
- by occupation: |
industry 29.3%, agriculture 8.9%,
construction 8%, transport and communication 8.2%, services 45.6%
(1994) |
| Unemployment
rate: |
17% (2000
est.) |
| Budget: |
revenues: $5.2 billion
expenditures: $5.6 billion, including capital
expenditures of $NA (1999) |
| 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: |
9.3% (2000
est.) |
| Electricity
- production: |
22.582 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 37.56%
hydro: 18.27%
nuclear:
44.17%
other: 0% (1999) |
| Electricity
- consumption: |
21.471 billion kWh
(1999) |
| Electricity
- exports: |
930 million kWh
(1999) |
| Electricity
- imports: |
1.4 billion kWh
(1999) |
| Agriculture
- products: |
grains, potatoes, sugar beets, hops,
fruit; pigs, cattle, poultry; forest products |
| Exports: |
$12 billion (f.o.b., 2000
est.) |
| Exports -
commodities: |
machinery and transport equipment
39.4%, intermediate manufactured goods 27.5%, miscellaneous manufactured goods
13%, chemicals 8% (1999) |
| Exports -
partners: |
EU 59.7% (Germany 27.8%, Austria 8%,
Italy 8.9%), Czech Republic 18.1% (1999) |
| Imports: |
$12.8 billion (f.o.b., 2000
est.) |
| Imports -
commodities: |
machinery and transport equipment
37.7%, intermediate manufactured goods 18%, fuels 13%, chemicals 11%,
miscellaneous manufactured goods 9.5% (1999) |
| Imports -
partners: |
EU 51.4% (Germany 26%, Italy 7.1%),
Czech Republic 16.6%, Russia 11.9% (1999) |
| Debt -
external: |
$10.3 billion (2000
est.) |
| Economic aid
- recipient: |
$421.9 million
(1995) |
| Currency: |
Slovak koruna
(SKK) |
| Exchange
rates: |
koruny per US dollar - 48.09 (March
2001), 46.395 (2000), 41.363 (1999), 35.233 (1998), 33.616 (1997), 30.654
(1996) |
| Fiscal
year: |
calendar year | Source: World Factbook |
