Country Report Slovakia

Strong recovery, but heavy reliance
on exports poses a risk

• Recovery has turned out to be well above earlier expectations: 4.2% growth in 2010
• Double-digit rebound in exports
• High unemployment rate hampers private consumption 
• GDP growth will be lower in 2011 (3.3%) as a result of the government’s austerity measures
• Overreliance on external demand poses a risk, as exports may shrink due to austerity measures in Western Europe

Real GDP growth (%)

Source: EIU/IMF

Download full country report on Slovakia

General Information

Capital - Bratislava
Government type - Republic
Currency - Euro
Population - 5.4 million
Status - Upper middle income country
 (GDP/capita: US-$ 16,494 in 2011)
 
Main import sources (2009)

• Germany - 16.9%  
• Czech Republic - 12.3%
• Russia - 9.0%
• China - 5.8%
• Hungary - 5.3%

Main export markets (2009)

• Germany - 20.1%
• Czech Republic - 12.9%
• France - 7.8%
• Poland - 7.2%
• Hungary - 6.3%

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Date February 2011