mailing address: use embassy street address
telephone: [421] (7) 5443-3338
FAX: [421] (7) 5443-0096
Flag description: three equal horizontal bands of white (top), blue, and red superimposed with the Slovak cross in a shield centered on the hoist side; the cross is white centered on a background of red and blue
Slovakia Economy
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%