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. Slovakia's economic growth exceeded expectations
in 2001-04, despite the general European slowdown. Unemployment, at
an unacceptable 15% in 2003-04, remains the economy's Achilles heel.
Slovakia joined the EU on 1 May 2004.

GDP (purchasing power parity):
$78.89 billion (2004 est.)

GDP - real growth rate:
5.3% (2004 est.)

GDP - per capita:
purchasing power parity - $14,500 (2004 est.)

GDP - composition by sector:
agriculture: 3.5%
industry: 30.1%
services: 66.4% (2004 est.)

Labor force:
2.2 million (3rd quarter, 2004 est.)

Labor force - by occupation:
agriculture 5.8%, industry 29.3%, construction 9%, services 55.9%
(2003)

Unemployment rate:
13.1% (31 December 2004 est.)

Population below poverty line:
NA

Household income or consumption by percentage share:
lowest 10%: 5.1%
highest 10%: 18.2% (1992)

Distribution of family income - Gini index:
26.3 (1996)

Inflation rate (consumer prices):
7.5% (2004 est.)

Investment (gross fixed):
24% of GDP (2004 est.)

Budget:
revenues: $15.44 billion
expenditures: $16.7 billion, including capital expenditures of NA
(2004 est.)

Public debt:
46.6% of GDP (2004 est.)

Agriculture - products:
grains, potatoes, sugar beets, hops, fruit; pigs, cattle, poultry;
forest products

Industries:
metal and metal products; food and beverages; electricity, gas,
coke, oil, nuclear fuel; chemicals and manmade fibers; machinery;
paper and printing; earthenware and ceramics; transport vehicles;
textiles; electrical and optical apparatus; rubber products

Industrial production growth rate:
5.1% (2004 est.)

Electricity - production:
31.15 billion kWh (2003)

Electricity - production by source:
fossil fuel: 30.3%
hydro: 16%
nuclear: 53.6%
other: 0% (2001)

Electricity - consumption:
28.89 billion kWh (2003)

Electricity - exports:
8 billion kWh (2003)

Electricity - imports:
6