Slovakia's economic state shows signs of moderate growth and stability

As of 2024, Slovakia's economic state shows signs of moderate growth and stability. The GDP per capita is projected to be around USD 26,714, indicating a steady increase from previous years​​. The Slovak economy is expected to grow by 2.2% in 2024 and 2.9% in 2025, driven by private and public consumption, along with rebounding exports due to stronger external demand​.

Key economic sectors in Slovakia include industry and services, with the services sector contributing about 58.5% of GDP and employing approximately 62% of the workforce. The industrial sector, which includes significant contributions from the automotive and electronics industries, accounts for 28.5% of GDP and employs 36% of the workforce​​.

Slovakia's top export products include cars, which constitute the largest share of exports at $26.9 billion, followed by motor vehicle parts, video displays, broadcasting equipment, and electricity. The primary export destinations are Germany, the Czech Republic, Hungary, Poland, and France​​.

Key trade partners include Germany, which is the largest destination for Slovak exports, followed by neighboring countries like the Czech Republic and Hungary. This close economic relationship is facilitated by geographical proximity and integrated supply chains within the European Union​​.

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