Slovakia’s economy, worth $115 billion, is driven by industry, particularly automotive, with Volkswagen and Kia leading exports. Manufacturing, including electronics, contributes 25% to GDP. Services, notably IT, are growing, with Bratislava as a hub. Agriculture, producing grains, employs 5%. Renewable energy (solar, biomass) and green tech are emerging. EU membership boosts trade, but reliance on car exports and energy imports poses risks. Investments in innovation and infrastructure support Slovakia’s transition to a high-value economy, with potential in digitalization.
Slovakia Economy Size
Slovakia’s economy, worth $115 billion, is mid-sized within the EU, with industry driving its GDP, fueled by automotive exports. See Slovakia GDP.
Slovakia Purchasing Power Parity (PPP)
Slovakia’s economy has a PPP GDP of $240 billion, over double its $115 billion nominal GDP, due to lower costs for industry and services. PPP per capita is around $45,000, reflecting strong purchasing power within the EU. Domestic pricing and automotive exports amplify PPP-driven economic growth.
Slovakia Growth Rate
The economic growth rate is 2.8% in 2024, driven by automotive exports and services. EU integration and manufacturing support growth, but reliance on car exports and energy imports limit gains. IT contributes, while green energy drives resilience, positioning the economy for steady progress within the EU.
Slovakia Inflation
Slovakia’s inflation rate is approximately 3% in 2024, driven by rising energy and food import costs within the EU. Strong automotive exports and wage growth add demand-side pressure, while global supply chains remain strained. Eurozone monetary tightening and stable governance help keep inflation moderate, though import reliance poses risks.
