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Slovakia:
Country Economic Overview

An overview of the slovakian economy

Sample

An Overview of the Economy

Slovakia has seen high economic growth over the past few years and is becoming a modern market economy. Unemployment levels have fallen significantly since 2004 and continue to fall whilst major economic improvements between 2001 and 2004 allowed the Slovakian economy to stabilise. Slovakia joined the EU on May 1st 2004 and since then the economy has continued to grow. This membership also guarantees EU legal rights to all investors and the purchasing process has become much more simplified. When Slovakia adopts the Euro currency in 2009 its economic growth it likely to be bolstered.

statistics
GDP (PPP) (IMF) (US$Billions)	109.6
GDP (PPP) (CIA) (US$Billions)	109.6
GDP Growth (IMF) (%)	10.4
GDP Growth (CIA) (%)	10.4
GDP Per Capita (PPP) (IMF) (US$)	20,251
GDP Per Capita (PPP) (CIA) (US$)	20,300
GDP by Sector (%)	Agriculture: 2.6% Services: 63.9% Industry: 33.5%
Inflation (%)	2.8%
Population Below the Poverty Line (%)	21%
Labour Force (Millions)	2.7
Labour Force by Occupation (%)	Agriculture: 5.8% Services: 55.9% Industry: 29.3% Construction: 9%
Unemployment (%)	8.4%
Main Industries	Metal and metal products, food and beverages, electricity, gas, coke, oil, nuclear fuel, chemicals and manmade fibres, machinery, paper and printing.

^{Source: CIA World Factbook}

GDP

economic indicators	2003	2004	2005	2006	2007
GDP (US$Billions)	33.3	42.1	47.9	56.1	75.0
GDP Growth (%)	4.8%	5.2%	6.6%	8.5%	10.4%
GDP Per Capita (US$)	6,161	7,810	8,854	10,357	13,857
GDP Per Capita (PPP) (US$)	13,513	14,559	15,971	17,871	20,251
Inflation (%)	8.6%	7.5%	2.8%	4.4%	2.8%
Unemployment (%)	17.2%	15.2%	13.1%	11.7%	8.4%
Mobile Phone Users	736,662	3,678,000	3,678,000	4,540,000	4,893,000
Internet Users	700,000	1,375,800	1,375,800	2,500,000	-

^{Source: IMF, CIA World Factbook}

Major Exports & Imports

Slovakia is situated in central Europe meaning importing and exporting goods from other European countries is relatively easy. Germany is currently Slovakia's main import and export partner.

Major Exports 2007

Vehicles (25.9%), machinery and electrical equipment (21.3%), base metals (14.6%), chemicals and minerals (10.1%)

Major Imports 2007

Machinery and transport equipment (41.1%), intermediate manufactured goods (19.3%), fuels (12.3%), chemicals (9.8%), miscellaneous manufactured goods (10.2%)