Current Account in Slovakia

Slovakia Current Account | Economic News & Forecasts

Slovakia - Current Account

On the heels of a robust third quarter, momentum appears to have partly carried over into the fourth quarter, powered by strong domestic activity. Retail sales surged in the October-November period, buttressed by softer price pressures and the unemployment rate hitting a new historical low. Meanwhile, fixed investment likely softened at year-end, with major projects within the all-important car industry wrapping up. On the supply front, industrial production lost steam in November, after seven months of impressive expansion. This was a result of slower demand from Germany, a key partner in the European automobile supply chain. Exports consequently decelerated somewhat in Q4, whereas a rise in imports is seen weighing on external gains. In the political arena, a new employment law came into effect on 1 January, including a rise in the minimum wage which should support household spending ahead.

Slovakia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)1.9  1.0  -1.7  -1.4  -2.2  

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Slovakia Current Account Chart

Slovakia Current Account
Note: Current account balance as % of GDP.
Source: Bank of Slovakia.

Slovakia Facts

Bond Yield0.55-4.12 %Jan 30
Exchange Rate1.140.65 %Jan 30
Stock Market3320.0 %Jan 30

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