ezdoslavovo Namestie 4, 81102 Bratislava
mailing address: P.O. Box 309, 814 99 Bratislava
telephone: [421] (2) 5443-3338
FAX: [421] (2) 5443-0096

Flag description:
three equal horizontal bands of white (top), blue, and red
superimposed with the coat of arms of Slovakia (consisting of a red
shield bordered in white and bearing a white Cross of Lorraine
surmounting three blue hills); the coat of arms is centered
vertically and offset slightly to the hoist side

Economy Slovakia

Economy - 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.

GDP (purchasing power parity):
$96.35 billion (2006 est.)

GDP (official exchange rate):
$46.9 billion (2006 est.)

GDP - real growth rate:
6.4% (2006 est.)

GDP - per capita (PPP):
$17,700 (2006 est.)

GDP - composition by sector:
agriculture: 3.8%
industry: 31.4%
services: 64.8% (2006 est.)

Labor force:
2.629 million (2006 est.)

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

Unemployment rate:
10.2% (2006 est.)

Population below poverty line:
21% (2002)

Household income or consumption by percentage share:
lowest 10%: 3.1%
highest 10%: 20.9% (1996)

Distribution of family income - Gini index:
25.8 (1996)

Inflation rate (consumer prices):
4.4% (2006 est.)

Investment (gross fixed):
27.6% of GDP (2006 est.)

Budget:
revenues: $24.57 billion
expenditures: $26.14 billion; including capital expenditures of $NA
(2006 est.)

Public debt:
36.1% of GDP (2006 est.)

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