Slovakia GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

1.8

Units In

1.2

Frequency

Quarterly

Next Release

Jun 06, 2025

Time to Release

2 Months 27 Days 0 Hours

Highest	Lowest	Average	Date Range	Source
13.6 Dec 2007	-10.9 Jun 2020	3.31 %	1996-2024	Statistical Office of the Slovak Republic

In Slovakia, the most important industries are engineering, chemical, electrotechnical engineering, wood-processing and food industry. On the expenditure side, household consumption is the main component of GDP and accounts for 57 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (19 percent). Exports of goods and services account for 92 percent of GDP while imports account for 88 percent, adding 4 percent of total GDP.

Latest Updates

Slovakia’s economy advanced by 1.8% year-on-year in the fourth quarter of 2024, matching preliminary estimates and up from a nearly two-year low of 1.2% growth in the previous period. It was the seventh consecutive period of expansion, as net trade contributed positively to the GDP, with exports stalling while imports falling by 0.1%. Additionally, household consumptions increased faster (2.7% vs 1.5%), as well as government spending (2.1% vs 0.9%). Meanwhile, gross fixed capital formation declined further (-11.5% vs -8%). On a seasonally adjusted quarterly basis, the economy rose by 0.5% in Q4, following a 0.3% increase in the prior period. Considering the full year of 2024, the GDP expanded by 2%, the fastest in three years, up from a 1.6% rise last year.