Slovakia Overview*

  • Capital -- Bratislava
  • Population -- 5,439,448
  • Language -- Slovak
  • GDP per capita($) -- 16,100
  • Currency -- Slovak koruna (SKK)
  • Year Joined EU -- 2004

Macroeconomic Performance

  • GDP($) -- 96,350,000,000
  • GDP per capita($) -- 16,100
  • GDP growth rate(%) -- 5.50
  • Inflation(%) -- 2.70
  • Unemployment(%) -- 11.70
  • Imports($) -- 34,480,000,000
  • Exports($) -- 32,390,000,000
  • Military Spending($) -- 406,000,000
  • Military Spending (% of GDP) -- 1.87

General Information

  • Land Area (sq. km) -- 48,845
  • about twice the size of New Hampshire
  • Population growth rate(%) -- 0.15
  • Infant Mortality (deaths per 1,000 live births) -- 7.26
  • Life Expectancy -- 74.73
  • Poverty --
  • Migration -- 0.3 migrant(s)/1,000 popu

  • * all data/material from the CIA World Fact Book 2006

Slovakia

The dissolution of the Austro-Hungarian Empire at the close of World War I allowed the Slovaks to join the closely related Czechs to form Czechoslovakia. Following the chaos of World War II, Czechoslovakia became a Communist nation within Soviet-ruled Eastern Europe. Soviet influence collapsed in 1989 and Czechoslovakia once more became free. The Slovaks and the Czechs agreed to separate peacefully on 1 January 1993. Slovakia joined both NATO and the EU in the spring of 2004.

Economic Overview


Slovakia has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The DZURINDA government made excellent progress during 2001-04 in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, and the government has helped facilitate a foreign investment boom with business friendly policies such as labor market liberalization and a 19% flat tax. Foreign investment in the automotive sector has been strong. Slovakia's economic growth exceeded expectations in 2001-06 despite the general European slowdown. Unemployment, at an unacceptable 18% in 2003-04, dropped to 10.2% in 2006 but remains the economy's Achilles heel. Slovakia joined the EU on 1 May 2004.