Slovakia

Description of Slovakia

Welcome to our website dedicated to exploring the unique geopolitical and macroeconomic landscape of Slovakia. Situated in Central Europe, Slovakia boasts a rich history, vibrant culture, and a rapidly evolving economy. As a country that has transitioned from a socialist state to a market-oriented democracy, Slovakia offers an intriguing case study for understanding how macroeconomic factors shape its development and influence its position in the global arena. Join us as we delve into the intricate tapestry of Slovakia's economic indicators, geopolitical significance, and its role in the ever-changing geopolitical dynamics of Europe.

Population And Age Structure

Slovakia has a total population of 5,458,827, which is below the average population of 40,097,746. The country ranks 116th out of 194 countries for total population.

With 15.84% of its population aged 0-14, Slovakia is below the average of 27.34%. This places Slovakia at the 165th position out of 194 countries for this demographic.

The total number of population aged 0-14 in Slovakia is 864,785, significantly lower than the average of 10,327,379. Slovakia ranks 129th out of 194 countries in this category.

Slovakia has 67.33% of its population aged 15-64, above the average of 63.44%. This places Slovakia at the 48th position out of 194 countries for this demographic.

With a total of 3,675,639 individuals aged 15-64, Slovakia falls below the average of 26,003,407. The country ranks 113th out of 194 countries for this age group.

16.82% of Slovakia's population is aged 65 and above, which is higher than the average of 9.22%. This demographic ranking places Slovakia at the 35th position out of 194 countries.

The total population aged 65 and above in Slovakia is 918,403, below the average of 3,766,959. Therefore, Slovakia ranks 72nd out of 194 countries for this demographic.

Summary

Slovakia has a relatively small total population compared to the global average, with a higher percentage of individuals in the working-age bracket (15-64 years) and a lower percentage in the young age group (0-14 years). The country also has a higher proportion of elderly individuals (65 and above) compared to the average. These demographic indicators are crucial for understanding Slovakia's labor force dynamics, healthcare system requirements, and potential future challenges related to an aging population.

Population Miscellaneous

Regarding the attribute of Rural population, Slovakia has a value of 2,524,162, which is significantly below the average of 18,044,041. Slovakia ranks 97 out of 190 countries in this data set.

For Rural population (% of total population), Slovakia's value of 46.24% is above the average of 41.16%. The country ranks 75 out of 190 countries for this attribute.

In terms of Urban population, Slovakia has 2,934,665 individuals, below the average of 22,425,747. The country ranks 118 out of 194 countries in this category.

When looking at Urban population (% of total population), Slovakia's value of 53.76% is below the average of 59.69%. Slovakia ranks 120 out of 194 countries for this metric.

Slovakia's Age dependency ratio (% of working-age population) stands at 48.51%, lower than the average of 59.22%. It ranks 147 out of 194 countries in this aspect.

For the Birth rate (per 1,000 people), Slovakia's rate of 10.4 is below the average of 19.38. The country ranks 150 out of 192 countries for this statistic.

Concerning Death rate (per 1,000 people), Slovakia's rate of 10.8 is above the average of 8.21. It ranks 33 out of 192 countries for this metric.

Lastly, in terms of Fertility rate (total births per woman), Slovakia's rate of 1.59 is below the average of 2.60. The country ranks 139 out of 190 countries for this attribute.

Summary

Slovakia exhibits a lower rural population and urban population compared to global averages, with a higher percentage of rural population but lower percentage of urban population. The country also has a lower age dependency ratio, birth rate, and fertility rate but a higher death rate compared to the global averages. These indicators are important as they provide insights into Slovakia's demographic structure, economic development, social welfare system, and potential challenges for future population growth and sustainability.

Military

- Military expenditure (current USD): Slovakia's military expenditure is $2,047,190,242.79, significantly below the average of $12,904,993,617.17. Slovakia ranks 59 out of 149 countries.

- Military expenditure (% of GDP): Slovakia's military expenditure is 1.92% of GDP, slightly above the average of 1.90%. Slovakia holds the 53rd rank out of 148 countries.

- Arms imports (SIPRI trend indicator values): Slovakia's arms imports amount to $25,000,000, much lower than the average of $205,522,123.89. Slovakia is ranked 69 out of 113 countries.

- Arms exports (SIPRI trend indicator values): Slovakia's arms exports stand at $3,000,000, significantly lower than the average of $705,705,882.35. In this aspect, Slovakia ranks 34 out of 34 countries.

- Armed forces personnel, total: Slovakia has 18,000 armed forces personnel, below the average of 165,908.54. Slovakia ranks 111 out of 164 countries.

- Armed forces personnel (% of total labor force): Slovakia's armed forces personnel represent 0.66% of the total labor force, below the average of 1.28%. Slovakia holds the 97th rank out of 164 countries.

Summary

Slovakia's military expenditure, arms imports, and armed forces personnel numbers are below global averages, indicating a more modest defense posture compared to many countries. This could signify Slovakia's focus on other areas of national development and potentially a reliance on regional security partnerships. It's important to track these indicators as they provide insights into a country's security strategy, defense capabilities, and foreign policy priorities, which can have significant implications for regional stability and international relations.

Natural Resources

For Forest area (sq. km), Slovakia has 19,259 sq. km of forest area. This is below the average forest area of 211,606. Slovakia ranks 111 out of 191 countries in this attribute data.

Regarding Land area (sq. km), Slovakia's land area is 48,080 sq. km, which is significantly below the average of 665,167 sq. km. Slovakia holds the 127th rank out of 194 countries in this category.

With a Surface area of 49,030 sq. km, Slovakia falls below the average surface area of 689,780 sq. km. The country is positioned at the 128th rank out of 194 countries for this attribute.

Slovakia's Arable land spans 1,346,000 hectares, which is less than the average arable land of 7,329,543 hectares. Slovakia ranks 94th out of 190 countries in this aspect.

Land under cereal production in Slovakia covers 747,320 hectares, well under the average of 4,206,012 hectares. Slovakia holds the 87th rank out of 174 countries in this category.

For Average precipitation in depth (mm per year), Slovakia receives 824 mm of precipitation annually, which is below the average of 1,158 mm. Slovakia ranks 103rd out of 178 countries in this attribute.

In terms of Renewable internal freshwater resources (total in billion cubic meters), Slovakia has 12.6 billion cubic meters, below the average of 240.41 billion cubic meters. Slovakia is positioned at the 115th rank out of 178 countries for this parameter.

Summary

Slovakia's key macroeconomic indicators related to land and natural resources show that it has lower forest area, land area, surface area, arable land, land under cereal production, precipitation, and renewable internal freshwater resources compared to global averages. These statistics are crucial as they highlight Slovakia's constraints in terms of natural resources availability, agricultural potential, and water resources management, which could impact the country's environmental sustainability, agricultural productivity, and water security in the long term.

Resource Rents

- Total natural resources rents (% of GDP): Slovakia's value of 0.22% is significantly below the average of 4.63%. It ranks 138th out of 175 countries in the dataset.

- Coal rents (% of GDP): Slovakia's value of 0.25% is much lower than the average of 0.40%. It ranks 54th out of 65 countries in the dataset.

- Forest rents (% of GDP): Slovakia's value of 0.21% is below the average of 1.53%. It ranks 93rd out of 174 countries in the dataset.

- Oil rents (% of GDP): Slovakia's value of 0.05% is well below the average of 2.51%. It ranks 110th out of 117 countries in the dataset.

- Natural gas rents (% of GDP): Slovakia's value of 0.19% is lower than the average of 1.25%. It ranks 84th out of 96 countries in the dataset.

- Mineral rents (% of GDP): Slovakia's value of 0.87% is significantly below the average of 1.23%. It ranks 77th out of 86 countries in the dataset.

Summary

Slovakia's macroeconomic indicators related to natural resources rents (% of GDP) consistently show values below global averages across various categories such as coal, forest, oil, natural gas, and mineral rents. These values position Slovakia in lower rankings among the countries included in the dataset, indicating a relatively limited contribution of natural resource rents to the country's GDP.

These findings are important as they suggest that Slovakia may have comparatively less reliance on natural resource sectors for economic output and revenue generation. This could potentially indicate a need for diversification of the economy into other sectors to ensure sustainable and balanced growth, reduce vulnerability to commodity price fluctuations, and enhance overall economic resilience in the face of global market dynamics.

Commodities

Regarding Cereal production (metric tons), Slovakia's value of 4,580,900 is significantly below the average of 17,249,945. Slovakia ranks 61 out of 174 countries in this category.

For Aquaculture production (metric tons), Slovakia's value of 2,296 is notably lower than the average of 679,642. Slovakia holds the 110th position out of 180 countries.

When it comes to Capture fisheries production (metric tons), Slovakia's 1,736 falls well below the average of 467,453. The country ranks 164 out of 190 nations for this attribute.

In Total fisheries production (metric tons), Slovakia's output of 4,032 is considerably lower than the average of 1,153,914. Slovakia holds the 159th position out of 182 countries in this category.

As for Fertilizer consumption (kilograms per hectare of arable land), Slovakia's consumption of 129.81 is below the average of 159.04. Slovakia ranks 77 out of 187 countries for this metric.

Summary

Slovakia's performance in key macroeconomic indicators related to agriculture and fisheries, such as cereal production, aquaculture production, and fertilizer consumption, falls below global averages and ranks relatively low compared to other countries. These indicators are crucial as they reflect Slovakia's agricultural productivity, resource utilization in the fisheries sector, and efficiency in fertilizer application, highlighting areas for potential improvement in the country's agricultural and environmental policies.

Intellectual Property

Analysis of key industrial and intellectual property statistics for Slovakia:

1. Industrial design applications, nonresident, by count: Slovakia's value of 88 is significantly below the attribute average of 1415.83. Slovakia ranks 76 out of 112 countries in this dataset.

2. Industrial design applications, resident, by count: With a value of 280, Slovakia falls much below the attribute average of 9799.58, ranking 51 out of 113 countries.

3. Patent applications, nonresidents: Slovakia's 15 applications is well below the average of 6538.40. Slovakia holds the 93rd rank out of 129 countries in this aspect.

4. Patent applications, residents: Slovakia's 206 applications are significantly lower than the average of 19037.56. The country ranks 59 out of 117 nations.

5. Trademark applications, nonresident, by count: Slovakia's 4247 applications are notably under the average of 15878.93. Slovakia ranks 74 out of 130 countries.

6. Trademark applications, resident, by count: With 8780 applications, Slovakia is considerably below the average of 111055.78, ranking 50 out of 129 countries.

7. Scientific and technical journal articles: Slovakia's publication of 5420.07 articles is below the average of 15103.76. The country ranks 52 out of 192 in this field.

8. Charges for the use of intellectual property, payments (BoP, current US$): Slovakia's payment amount of 646,719,708.55 is significantly lower than the average of 3,218,843,494.39. The country ranks 43 out of 143 countries.

9. Charges for the use of intellectual property, receipts (BoP, current US$): With receipts of 48,240,166.78, Slovakia's value is far below the average of 3,191,687,117.58. Slovakia ranks 51 out of 122 countries.

10. Researchers in R&D (per million people): Slovakia's count of 3165.59 researchers per million people is above the average of 2556.45. The country ranks 25 out of 72 nations in this metric.

Summary

Slovakia demonstrates lower industrial and intellectual property statistics compared to global averages. The country ranks below average in various indicators such as industrial design applications, patent applications, trademark applications, scientific and technical journal articles, and intellectual property payments and receipts. These statistics are crucial as they reflect Slovakia's level of innovation, investment in research and development, and protection of intellectual property rights, all of which are essential for economic growth and competitiveness in the global market.

Broad Economy Attributes

GDP (current US$): Slovakia's GDP is $106.73 billion, ranking 60th out of 189 countries. It is below the average GDP of $442.87 billion.
GDP, PPP (current international $): Slovakia's GDP, PPP is $191.06 billion, ranking 67th out of 181 countries. It is below the average GDP, PPP of $734.14 billion.
GDP per capita (current US$): Slovakia's GDP per capita is $19,552, ranking 45th out of 190 countries. It is above the average GDP per capita of $15,462.11.
GDP per capita, PPP (current international $): Slovakia's GDP per capita, PPP is $34,999, ranking 41st out of 181 countries. It is above the average GDP per capita, PPP of $21,251.89.
GNI (current US$): Slovakia's GNI is $105.80 billion, ranking 60th out of 185 countries. It is below the average GNI of $452.04 billion.
GNI, PPP (current international $): Slovakia's GNI, PPP is $189.40 billion, ranking 65th out of 181 countries. It is below the average GNI, PPP of $730.70 billion.
GNI per capita, PPP (current international $): Slovakia's GNI per capita, PPP is $34,700, ranking 40th out of 181 countries. It is above the average GNI per capita, PPP of $20,615.75.

Summary

Slovakia's GDP and GNI figures are below the global averages, indicating that the country's economic output and national income are relatively lower compared to the world average. However, Slovakia's GDP per capita and GNI per capita, both in nominal and PPP terms, are above the global averages, suggesting that the wealth generated in the country is distributed relatively well among its population. These metrics are crucial as they provide insights into the overall economic performance, wealth distribution, and standard of living in Slovakia.

Broad Value Added

- Gross value added at basic prices (GVA) in Slovakia is $95,691,416,177.23, ranking 57 out of 176 countries. This is below the average GVA of $360,070,943,595.12.
- Agriculture, forestry, and fishing, value added (% of GDP) for Slovakia is 1.73%, placing it at rank 156 out of 182 countries. This percentage is significantly lower than the average of 10.86%.
- Agriculture, forestry, and fishing, value added in Slovakia is $1,845,636,999.98, ranking 109 out of 182 countries. This falls below the average value added of $19,924,732,828.07.
- Services value added (% of GDP) is 59.79% in Slovakia, ranking 69 out of 183 countries. This is slightly higher than the average of 56.72%.
- Services value added in Slovakia is $63,809,998,638.73, placing it at rank 60 out of 183 countries. However, this value is below the average of $295,837,711,130.69.
- Industry (including construction) value added in Slovakia is $30,035,780,538.52, ranking 60 out of 183 countries. This is significantly below the average value added of $118,421,095,413.50.

Summary

Slovakia's GVA is below average, particularly in the sectors of agriculture, forestry, and fishing as well as industry. The country's service sector, while ranking higher than average, still falls short in terms of value added. These indicators suggest a need for diversification and growth in key sectors to enhance economic performance and competitiveness on a global scale.

Manufacturing Value Added

Manufacturing, value added (current US$): Slovakia's value of $19,441,463,887.14 is below the average of $76,207,179,589.66. Slovakia ranks 54th out of 173 countries in this attribute data.

Manufacturing, value added (% of GDP): Slovakia's value of 18.22% is above the average of 11.90%. Slovakia ranks 29th out of 173 countries in this attribute data.

Medium and high-tech manufacturing value added (% manufacturing value added): Slovakia's value of 48.86% is significantly above the average of 24.49%. Slovakia ranks 15th out of 149 countries in this attribute data.

Chemicals (% of value added in manufacturing): Slovakia's value of 2.82% is below the average of 11.56%. Slovakia ranks 86th out of 89 countries in this attribute data.

Food, beverages and tobacco (% of value added in manufacturing): Slovakia's value of 7.51% is below the average of 24.51%. Slovakia ranks 87th out of 92 countries in this attribute data.

Machinery and transport equipment (% of value added in manufacturing): Slovakia's value of 39.82% is above the average of 16.85%. Slovakia ranks 6th out of 93 countries in this attribute data.

Textiles and clothing (% of value added in manufacturing): Slovakia's value of 3.05% is below the average of 6.33%. Slovakia ranks 49th out of 93 countries in this attribute data.

Other manufacturing (% of value added in manufacturing): Slovakia's value of 46.80% is above the average of 42.13%. Slovakia ranks 30th out of 94 countries in this attribute data.

Summary

Slovakia demonstrates strength in its manufacturing sector, particularly in medium and high-tech manufacturing and machinery and transport equipment. However, there are areas of concern such as chemicals, food, beverages, and tobacco where Slovakia lags behind the average. These indicators are crucial as they showcase Slovakia's economic diversification, competitiveness, and potential areas for growth and improvement.

Money

Regarding the Inflation, consumer prices (annual %) attribute, Slovakia experiences a relatively low inflation rate of 1.94%, which is below the average of 8.26%. This places Slovakia at rank 84 out of 165 countries in the dataset.

As for the Inflation, GDP deflator (annual %) attribute, Slovakia's rate stands at 2.37%, also below the average of 6.90%. This positions Slovakia at rank 85 out of 188 countries included in the data.

Summary

Slovakia maintains a low inflation rate in both consumer prices and GDP deflator, performing better than the global averages in these indicators. This indicates a stable economic environment with controlled price levels and overall economic health. Such low inflation rates can attract investments, support domestic consumption, and contribute to sustainable economic growth in Slovakia.

Consumption Expenditure

Final consumption expenditure (current US$): Slovakia's final consumption expenditure amounts to $83,772,845,352.50, ranking 59th out of 159 countries. This value is significantly below the attribute average of $381,630,252,515.38.

Final consumption expenditure (% of GDP): Slovakia's final consumption expenditure as a percentage of GDP is 78.49%, ranking 90th out of 159 countries. It is slightly below the attribute average of 82.37%.

General government final consumption expenditure (current US$): Slovakia's expenditure by the general government is $22,358,302,654.72, placing it at the 57th position out of 158 countries. This value is substantially lower than the attribute average of $93,676,578,238.03.

General government final consumption expenditure (% of GDP): With a value of 20.95%, Slovakia ranks 49th out of 158 countries in terms of general government expenditure as a percentage of GDP. This figure is higher than the attribute average of 18.71%.

Household and NPISHs Final consumption expenditure (current US$): Slovakia's household and NPISHs consumption expenditure stands at $61,414,542,697.78, ranking 59th out of 158 countries. It is notably below the attribute average of $290,127,571,157.69.

Households and NPISHs final consumption expenditure (% of GDP): Slovakia's household and NPISHs consumption expenditure as a percentage of GDP is 57.54%, placing it at the 101st position out of 158 countries. This value is lower than the attribute average of 63.68%.

Summary

Overall, Slovakia's final consumption expenditure metrics, both in absolute terms and as a percentage of GDP, are below the global averages. Particularly concerning is the significantly low general government final consumption expenditure, indicating potential challenges in public sector spending and investment in national development. The lower household and NPISHs consumption expenditure relative to GDP also suggests a possible need for increased economic stimulus measures to boost domestic consumption and improve overall economic growth.

Equities

Slovakia's S&P Global Equity Indices experienced an annual % change of 4.80%, surpassing the attribute average of 2.06%. This places Slovakia at the 28th rank out of 79 countries included in the data.

Summary

Slovakia's S&P Global Equity Indices showed a strong annual growth rate of 4.80%, significantly outperforming the global average of 2.06%. This places Slovakia in the top third, ranking 28th out of 79 countries in the dataset. This robust performance indicates a healthy and growing economy in Slovakia, attracting investor interest and potentially leading to further economic development and prosperity in the country.

Investment

Foreign direct investment, net inflows in Slovakia are below average, with a value of -1141703441.49 USD. Slovakia ranks 168 out of 182 countries included in the data for this attribute.

Foreign direct investment, net outflows in Slovakia are above average, with a value of 1624893109.96 USD. Slovakia ranks 37 out of 156 countries for this attribute.

Portfolio Investment in Slovakia is significantly above average, with a value of 3249825777.35 USD. Slovakia ranks 29 out of 159 countries included in the data.

Portfolio equity, net inflows in Slovakia are below average, with a value of -68329231.69 USD. Slovakia ranks 86 out of 125 countries for this attribute.

Summary

Slovakia displays mixed trends in foreign direct investment and portfolio investments. While experiencing below-average net inflows in foreign direct investment, the country receives above-average net outflows and significantly above-average portfolio investment. The rankings across these indicators indicate that Slovakia attracts more portfolio investments compared to direct investments, which could signify a strong financial market presence and investor confidence in the country's economic stability.

Broad Trade Attributes

Trade (% of GDP): Slovakia's trade accounts for 168.49% of its GDP, significantly higher than the average of 82.34%. This places Slovakia at the 8th rank out of 163 countries in the dataset.

Merchandise trade (% of GDP): With merchandise trade constituting 160.25% of its GDP, Slovakia surpasses the average of 60.01%. Slovakia is ranked 5th out of 186 countries in this aspect.

Trade in services (% of GDP): Slovakia's trade in services, at 18.35% of its GDP, is slightly below the average of 24.63%. Slovakia ranks 72nd out of 171 countries in this category.

External balance on goods and services (current US$): Slovakia's balance stands at $1.73 billion, lower than the average of $3.41 billion. Slovakia ranks 46th out of 163 countries here.

External balance on goods and services (% of GDP): With a value of 1.62% of GDP, Slovakia performs better than the average deficit of -5.97%. Slovakia is ranked 52nd out of 163 countries in this metric.

Summary

Slovakia stands out for its high trade volume, both in merchandise and services, compared to its GDP, ranking 8th and 5th globally respectively. Although its trade in services is slightly below average, Slovakia's overall trade performance contributes positively to its external balance. With a positive balance on goods and services and performing better than the average deficit as a percentage of GDP, Slovakia demonstrates economic resilience and competitiveness in the global market.

Net Trade

1. Current account balance (BoP, current US$): Slovakia's current account balance is 671,914,355.37 USD, which is below the average of 1,443,864,831.49 USD. Slovakia ranks 47 out of 170 countries in this attribute.

2. Current account balance (% of GDP): Slovakia's current account balance as a percentage of GDP is 0.63%, which is above the average of -2.36%. Slovakia ranks 61 out of 170 countries in this attribute.

3. Net trade in goods and services (BoP, current US$): Slovakia's net trade in goods and services is 2,331,954,172.72 USD, slightly below the average of 2,604,730,003.57 USD. Slovakia ranks 45 out of 171 countries in this attribute.

4. Net primary income (BoP, current US$): Slovakia's net primary income is -883,405,487.23 USD, which is slightly below the average. Slovakia ranks 101 out of 170 countries in this attribute.

5. Net secondary income (BoP, current US$): Slovakia's net secondary income is -776,632,150.04 USD, significantly below the average of -269,227,340.40 USD. Slovakia ranks 140 out of 170 countries in this attribute.

6. Net trade in goods (BoP, current US$): Slovakia's net trade in goods is 1,241,076,118.75 USD, below the average of 1,302,831,005.68 USD. Slovakia ranks 53 out of 171 countries in this attribute.

7. Net capital account (BoP, current US$): Slovakia's net capital account is 804,783,211.25 USD, substantially above the average of 136,543,824.05 USD. Slovakia ranks 16 out of 159 countries in this attribute.

8. Net financial account (BoP, current US$): Slovakia's net financial account is 1,857,160,769.62 USD, significantly above the average of -469,840,994.63 USD. Slovakia ranks 37 out of 170 countries in this attribute.

Summary

Slovakia has a positive current account balance and a net trade surplus in goods and services, indicating strong international trade competitiveness. However, the country faces challenges with a negative net primary and secondary income, suggesting a reliance on foreign investments. Slovakia's robust net capital and financial accounts highlight its ability to attract capital inflows and investments, which are crucial for economic growth and stability.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Slovakia's value of 94,942,361,770.4699 is below the average of 146,238,908,936.29623. Slovakia ranks 39th out of 170 countries in this attribute.

2. Exports of goods and services (BoP, current US$): Slovakia's value of 90,545,983,830.6432 is below the average of 122,938,540,059.78171. Slovakia ranks 39th out of 170 countries in this attribute.

3. Exports of goods and services (current US$): Slovakia's value of 90,781,537,717.4119 is below the average of 129,596,864,610.19212. Slovakia ranks 41st out of 163 countries in this attribute.

4. Exports of goods and services (% of GDP): Slovakia's value of 85.0560071767402 is above the average of 38.187880572633766. Slovakia ranks 8th out of 163 countries in this attribute.

5. Goods exports (BoP, current US$): Slovakia's value of 80,208,300,194.4093 is below the average of 93,310,581,697.38683. Slovakia ranks 35th out of 171 countries in this attribute.

6. International tourism, receipts (% of total exports): Slovakia's value of 1.43904781291805 is below the average of 9.74392977621542. Slovakia ranks 99th out of 120 countries in this attribute.

7. ICT goods exports (% of total goods exports): Slovakia's value of 12.9187765011 is above the average of 3.80622831972183. Slovakia ranks 14th out of 142 countries in this attribute.

Summary

Slovakia performs below average in total exports of goods, services, and primary income, goods and services, and goods exports when compared globally. However, the country excels in the percentage of exports in relation to its GDP, ranking 8th out of 163 countries. This indicates a strong export-driven economy, which is crucial for economic growth and stability despite the lower total export values.

Merchandise Exports

Merchandise exports (current US$): Slovakia's value of $86,640,000,000 is below the average of $89,542,711,229.95. Slovakia ranks 34th out of 187 countries in this attribute.

Agricultural raw materials exports (% of merchandise exports): Slovakia's value of 0.83% is below the average of 2.97%. Slovakia ranks 92nd out of 151 countries in this attribute.

Food exports (% of merchandise exports): Slovakia's value of 4.02% is below the average of 24.06%. Slovakia ranks 130th out of 152 countries in this attribute.

Fuel exports (% of merchandise exports): Slovakia's value of 2.40% is below the average of 13.70%. Slovakia ranks 83rd out of 147 countries in this attribute.

Ores and metals exports (% of merchandise exports): Slovakia's value of 1.83% is below the average of 9.10%. Slovakia ranks 104th out of 152 countries in this attribute.

Merchandise exports by the reporting economy, residual (% of total merchandise exports): Slovakia's value of 0.01% is below the average of 3.20%. Slovakia ranks 137th out of 166 countries in this attribute.

Summary

Slovakia's merchandise exports value is below average, ranking 34th globally. The country also underperforms in agricultural raw materials, food, fuel, ores and metals exports, and in residual merchandise export percentage, ranking below average in each category. These indicators reflect Slovakia's relatively limited diversification in export commodities, which may pose challenges for its economic resilience and competitiveness in the global market.

Technology Exports

1. Slovakia's Manufactures exports (% of merchandise exports) stand at 90.67%, well above the attribute average of 42.62%. This places Slovakia at rank 6 out of 152 countries in the dataset.

2. In terms of High-technology exports (current US$), Slovakia's value is $7,860,065,656, significantly below the attribute average of $16,655,934,078.80. Slovakia ranks 29th out of 151 countries in this aspect.

3. Slovakia's High-technology exports (% of manufactured exports) account for 10%, slightly below the average of 10.15%. This places Slovakia at rank 49 out of 150 countries.

4. Slovakia's Medium and high-tech exports (% manufactured exports) are at 74.42%, showing a substantial difference from the average of 34.29%. Slovakia ranks 7th out of 149 countries in this category.

Summary

Slovakia excels in manufacturing exports, with a percentage well above the global average, positioning the country at an impressive 6th rank globally. However, there is room for improvement in high-technology exports, where Slovakia falls below the average value and ranking. Enhancing high-tech exports could bolster Slovakia's global competitive edge and diversify its export portfolio, potentially driving economic growth and innovation in the long run.

Service Exports

1. Service exports (BoP, current US$): Slovakia's value is $10,337,684,737.65, below the average of $28,917,292,503.82. It ranks 48th out of 171 countries.

2. ICT service exports (BoP, current US$): Slovakia's value is $1,815,835,431.17, below the average of $4,578,501,153.77. It ranks 43rd out of 166 countries.

3. ICT service exports (% of service exports, BoP): Slovakia's value is 17.57%, above the average of 11.75%. It ranks 32nd out of 166 countries.

4. Communications, computer, etc. (% of service exports, BoP): Slovakia's value is 52.54%, above the average of 45.85%. It ranks 72nd out of 169 countries.

5. Transport services (% of service exports, BoP): Slovakia's value is 32.58%, above the average of 21.80%. It ranks 39th out of 169 countries.

6. Travel services (% of service exports, BoP): Slovakia's value is 12.62%, below the average of 26.40%. It ranks 111th out of 167 countries.

7. Insurance and financial services (% of service exports, BoP): Slovakia's value is 2.26%, below the average of 6.46%. It ranks 108th out of 161 countries.

Summary

Slovakia's service exports and ICT service exports are below the global average, ranking 48th and 43rd, respectively. However, the country performs well in the ICT service exports as a percentage of total service exports, ranking 32nd globally. Despite this, Slovakia lags in the export of travel services and insurance/financial services, ranking 111th and 108th, respectively. These indicators are crucial as they reflect the country's competitiveness in the global market, particularly in the growing ICT sector, and highlight areas that may require policy interventions to boost exports and enhance economic growth.

Commercial Service Exports

Summary

Slovakia's commercial service exports are relatively low compared to the global average, with a significant portion coming from computer, communications, and other services. However, the reliance on travel services is lower than average, indicating potential for diversification. The country's strength in transport services presents an opportunity for further growth in this sector, potentially boosting overall export revenue and economic stability.

Broad Import Attributes

- Imports of goods and services (current US$): Slovakia's value of 89.05 billion USD is below the average of 126.19 billion USD. It ranks 41 out of 163 countries in the dataset.

- Imports of goods and services (% of GDP): Slovakia's value of 83.43% is above the average of 44.15%. It ranks 11 out of 163 countries in the dataset.

- International tourism, expenditures (% of total imports): Slovakia's value of 1.46% is below the average of 3.98%. It ranks 110 out of 131 countries in the dataset.

- ICT goods imports (% total goods imports): Slovakia's value of 13.19% is above the average of 6.85%. It ranks 16 out of 143 countries in the dataset.

- Goods imports (BoP, current US$): Slovakia's value of 78.97 billion USD is below the average of 92.01 billion USD. It ranks 36 out of 171 countries in the dataset.

- Imports of goods and services (BoP, current US$): Slovakia's value of 88.21 billion USD is below the average of 120.32 billion USD. It ranks 40 out of 170 countries in the dataset.

- Imports of goods, services and primary income (BoP, current US$): Slovakia's value of 93.49 billion USD is below the average of 144.51 billion USD. It ranks 40 out of 170 countries in the dataset.

Summary

Slovakia has a below-average value in various indicators such as total imports, goods imports, and international tourism expenditures compared to the dataset average. Despite its lower values, Slovakia ranks relatively well in terms of importing ICT goods and the percentage of imports to GDP. These indicators are important as they reflect Slovakia's level of integration into the global economy, its reliance on imports, and its focus on certain sectors like ICT that could drive future economic growth.

Merchandise Imports

1. Slovakia's merchandise imports amount to $84.39 billion, which is below the average of $89.39 billion. Slovakia ranks 36th out of 190 countries in this attribute.

2. Manufactures imports (% of merchandise imports) in Slovakia stand at 82.59%, higher than the average of 66.76%. Slovakia is ranked 3rd out of 152 countries in this category.

3. Slovakia's agricultural raw materials imports (% of merchandise imports) are at 1.06%, slightly below the average of 1.27%. The country ranks 84th out of 152 nations in this aspect.

4. Food imports (% of merchandise imports) in Slovakia are 6.22%, lower than the average of 15.89%. Slovakia holds the 147th position out of 152 countries in this metric.

5. Slovakia's fuel imports (% of merchandise imports) constitute 6.29%, which is below the average of 11.38%. Slovakia ranks 116th out of 152 countries for this attribute.

6. Ores and metals imports (% of merchandise imports) in Slovakia stand at 2.66%, slightly above the average of 2.57%. Slovakia is placed 49th out of 152 countries in this category.

7. Merchandise imports by the reporting economy, residual (% of total merchandise imports) in Slovakia are merely 0.01%, significantly below the average of 2.51%. Slovakia holds the 152nd rank out of 180 countries in this attribute.

Summary

Slovakia's overall merchandise imports are slightly below the average, but when broken down into specific categories, the country's performance varies. Slovakia excels in importing manufactured goods, ranking 3rd globally, while it struggles with food imports, ranking 147th. Understanding these import trends is vital for assessing Slovakia's reliance on foreign goods, its industrial capabilities, and its food security measures.

Service Imports

Service imports (BoP, current US$): Slovakia's service imports amount to $9.25 billion. This is significantly below the average of $27.62 billion, ranking Slovakia 56th out of 171 countries.

Communications, computer, etc. (% of service imports, BoP): Slovakia's percentage of spending on communications and computer services within service imports is 51.10%, above the average of 44.40%. Slovakia ranks 73rd out of 169 countries for this metric.

Transport services (% of service imports, BoP): Slovakia allocates 29.36% of its service imports to transport services, falling below the average of 32.90%. This places Slovakia 85th out of 169 countries.

Travel services (% of service imports, BoP): Slovakia's spending on travel services as a percentage of service imports is 15.41%, slightly above the average of 14.14%. Slovakia ranks 59th out of 169 countries for this indicator.

Insurance and financial services (% of service imports, BoP): Slovakia dedicates 4.13% of its service imports to insurance and financial services, which is below the average of 8.53%. This places Slovakia 120th out of 169 countries in this category.

Summary

Slovakia's service imports are significantly below the global average, ranking 56th out of 171 countries. The country allocates a higher percentage of its service imports to communications and computer services but falls below average in spending on transport services and insurance/financial services. These findings are important as they indicate Slovakia's specialization in certain service sectors and its relative competitiveness in the global market for different services.

Commercial Service Imports

1. Commercial service imports (current US$): Slovakia's value of 9239797610.31373 is below the average of 27102746128.60033. Slovakia ranks 56 out of 171 countries in this attribute.

2. Computer, communications and other services (% of commercial service imports): Slovakia's value of 51.0615161185815 is above the average of 41.70795418723505. Slovakia ranks 65 out of 169 countries in this attribute.

3. Insurance and financial services (% of commercial service imports): Slovakia's value of 4.13509687858349 is below the average of 8.847469301427148. Slovakia ranks 123 out of 169 countries in this attribute.

4. Transport services (% of commercial service imports): Slovakia's value of 29.3844317089924 is below the average of 34.709860792715965. Slovakia ranks 88 out of 169 countries in this attribute.

5. Travel services (% of commercial service imports): Slovakia's value of 15.4189552938426 is above the average of 14.734715718621803. Slovakia ranks 59 out of 169 countries in this attribute.

Summary

In analyzing key macroeconomic indicators for Slovakia, it is evident that the country maintains a favorable position in terms of Computer, Communications, and Other Services as well as Travel Services compared to the global average. However, Slovakia lags behind in Insurance and Financial Services and Transport Services. These indicators are crucial as they give insights into the diversification of Slovakia's economy, its connectivity with the global market, and its potential for growth and competitiveness in the services sector.

Infrastructure

1. Railways, passengers carried (million passenger-km): Slovakia's value of 2180 million passenger-km is significantly below the attribute average of 32281.92 million passenger-km. In this category, Slovakia is ranked 29th out of 64 countries.

2. Railways, goods transported (million ton-km): Slovakia's value of 7268 million ton-km is substantially below the attribute average of 119231.19 million ton-km. Slovakia ranks 29th out of 62 countries for this metric.

3. Air transport, registered carrier departures worldwide: With 30 departures, Slovakia's performance is significantly under the attribute average of 134365.61 departures. The country holds the 149th rank out of 149 countries in this category.

4. Air transport, passengers carried: Slovakia's 2669 passengers carried falls far below the attribute average of 11848242.70 passengers. Slovakia ranks 146th out of 149 countries in this aspect.

5. Rail lines (total route-km): Slovakia's total route-km of 3626.86 is notably below the attribute average of 12204.74. The country holds the 30th rank out of 66 countries in this metric.

Summary

Slovakia lags behind the global average in key transportation indicators such as railways passengers carried, goods transported, air transport departures, passengers carried, and total rail route-km. These statistics indicate that Slovakia's transportation infrastructure may be underdeveloped compared to other countries, potentially impacting its connectivity, trade efficiency, and economic competitiveness on a global scale.

Information Technology Infrastructure

Secure Internet servers in Slovakia stand at 141,484, which is below the average of 458,294. Slovakia is ranked 40 out of 193 countries for this attribute.

Secure Internet servers (per 1 million people) in Slovakia are at 25,918.39, which is above the average of 14,067.17. Slovakia holds the 29th rank out of 193 countries.

Individuals using the Internet (% of population) in Slovakia are at 89.92%, surpassing the average of 64.77%. Slovakia is ranked 33 out of 180 countries.

Fixed broadband subscriptions in Slovakia amount to 1,701,561, below the average of 6,591,956.35. Slovakia holds the 61st rank out of 185 countries.

Mobile cellular subscriptions in Slovakia reach 7,289,707, below the average of 42,526,463.87. Slovakia is ranked 101 out of 193 countries.

Summary

Slovakia displays a strong presence in internet infrastructure with a high number of secure internet servers per 1 million people and a significant percentage of the population using the internet. However, the country falls behind in fixed broadband and mobile cellular subscriptions compared to global averages. These indicators are crucial as they reflect Slovakia's digital connectivity, which is vital for economic growth, innovation, and competitiveness in the modern globalized world.

Energy Consumption

Regarding Renewable energy consumption, Slovakia's value of 17.64% falls below the average of 32.18%. This places Slovakia at the 113th rank out of 191 countries included in the data.

As for CO2 emissions, Slovakia's output of 29,035.8 kt is notably below the average of 171,895.94 kt. This positions Slovakia at the 72nd rank out of 188 countries in the dataset.

Summary

Slovakia's renewable energy consumption percentage of 17.64% is lower than the global average of 32.18%, ranking it 113th out of 191 countries. Additionally, Slovakia's CO2 emissions of 29,035.8 kt are significantly lower than the average of 171,895.94 kt, placing it at the 72nd rank out of 188 countries in the dataset.

These findings are crucial as they indicate that Slovakia has room to enhance its renewable energy usage to align with global sustainability goals while also showcasing its relatively low carbon footprint compared to other nations. Addressing these discrepancies could lead to environmental improvements and potentially enhance Slovakia's standing in global sustainability indices.

Government Balance Sheet

Analysis of macroeconomic statistics for Slovakia:

1. Net acquisition of financial assets (% of GDP): Slovakia's value of 6.29% is above the average of 2.45%. It ranks 9th out of 87 countries in the dataset.

2. Central government debt, total (% of GDP): Slovakia's value of 78.41% is above the average of 74.12%. It ranks 22nd out of 61 countries.

3. Net incurrence of liabilities, total (% of GDP): Slovakia's value of 12.13% is above the average of 7.43%. It ranks 15th out of 92 countries.

4. Reserves and related items (BoP, current US$): Slovakia's value of $1.49 billion is below the average. It ranks 35th out of 171 countries.

5. Total reserves minus gold (current US$): Slovakia's value of $7.42 billion is below the average. It ranks 76th out of 161 countries.

6. Total reserves (includes gold, current US$): Slovakia's value of $9.34 billion is below the average. It ranks 73rd out of 161 countries.

7. Total reserves in months of imports: Slovakia's value of 1.20 months is below the average of 7.10 months. It ranks 138th out of 151 countries.

Summary

Slovakia demonstrates strengths in net acquisition of financial assets, central government debt, and net incurrence of liabilities, ranking relatively well compared to other countries in these areas. However, it lags behind in terms of reserves and related items, total reserves minus gold, total reserves, and total reserves in months of imports. These indicators highlight Slovakia's need to focus on building up its reserves to ensure stability and resilience in the face of external economic shocks.

Government Revenue

1. Revenue, excluding grants (% of GDP): Slovakia's value is 37.17%, which is above the average of 27.02%. It ranks 22nd out of 122 countries.

2. Social contributions (% of revenue): Slovakia's value is 41.61%, well above the average of 22.29%. It ranks 5th out of 81 countries.

3. Taxes on goods and services (% of revenue): Slovakia's value is 31.33%, slightly below the average of 31.82%. It ranks 67th out of 122 countries.

4. Taxes on international trade (% of revenue): Slovakia's value is extremely low at 0.000046%, significantly below the average of 6.24%. It ranks 100th out of 101 countries.

5. Other taxes (% of revenue): Slovakia's value is extremely low at 0.0000058%, significantly below the average of 2.12%. It ranks 104th out of 106 countries.

6. Taxes on income, profits and capital gains (% of revenue): Slovakia's value is 18.82%, below the average of 24.66%. It ranks 77th out of 119 countries.

Summary

Slovakia demonstrates a strong reliance on social contributions compared to other countries, ranking 5th globally. However, its low taxes on international trade and other taxes, placing 100th and 104th respectively, indicate potential areas for revenue diversification. These indicators are important as they highlight Slovakia's fiscal structure, showing where the country excels and areas that may require attention for long-term economic sustainability.

Taxes

1. Tax revenue (% of GDP): Slovakia's tax revenue accounts for 18.64% of its GDP, which is above the average of 16.72%. In the ranking of 123 countries, Slovakia is positioned at 46th place.

2. Customs and other import duties (% of tax revenue): Slovakia's customs and import duties as a percentage of tax revenue are extremely low at 0.0001%, significantly below the average of 9.01%. Slovakia ranks 98th out of 99 countries in this attribute.

3. Taxes on income, profits and capital gains (% of total taxes): Slovakia's taxes on income, profits, and capital gains represent 37.52% of its total taxes, slightly below the average of 38.40%. The country is ranked 59th out of 120 countries for this metric.

4. Tariff rate, applied, weighted mean, all products (%): Slovakia's applied weighted mean tariff rate for all products is 1.48%, much lower than the average of 5.21%. In a pool of 153 countries, Slovakia ranks 134th.

Summary

Slovakia demonstrates a relatively high tax revenue as a percentage of its GDP compared to the global average, indicating a strong fiscal policy. However, the country's low reliance on customs and import duties may affect its ability to generate revenue from international trade. Additionally, Slovakia's competitive tariff rates suggest a more open trade policy, potentially fostering greater economic growth through increased global market access.

Government Expenses

Expense (% of GDP): Slovakia's expense as a percentage of GDP is 42.50%, which is higher than the average of 31.69%. Slovakia ranks 24th out of 123 countries in this aspect.

Compensation of employees (% of expense): Slovakia's compensation of employees as a percentage of expense is 15.98%, below the average of 24.70%. Slovakia ranks 81st out of 123 countries in this category.

Goods and services expense (% of expense): Slovakia's goods and services expense as a percentage of total expense is 8.59%, lower than the average of 14.77%. The country ranks 84th out of 122 countries in this metric.

Interest payments (% of expense): Slovakia's interest payments as a percentage of expense stand at 2.76%, which is also below the average of 6.85%. Slovakia ranks 84th out of 121 countries in this measure.

Other expense (% of expense): Slovakia's other expenses as a percentage of total expense amount to 5.21%, less than the average of 8.29%. The country ranks 69th out of 120 countries in this parameter.

Subsidies and other transfers (% of expense): Slovakia's subsidies and other transfers as a percentage of expense are at 44.38%, slightly above the average of 43.29%. Slovakia ranks 57th out of 121 countries in this category.

Summary

Slovakia's expense as a percentage of GDP is relatively high at 42.50%, with a lower proportion allocated to compensation of employees (15.98%) and goods and services expenses (8.59%) compared to global averages. The country also stands out for its lower interest payments as a percentage of expense (2.76%) and other expenses (5.21%), but has a higher share of subsidies and other transfers (44.38%). These indicators are crucial as they reflect how the country allocates its resources, manages its debt obligations, and supports various sectors of the economy, ultimately impacting its overall economic stability and growth potential.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Machinery and transport equipment (% of value added in manufacturing)	6/93
Trade (% of GDP)	8/163
Merchandise trade (% of GDP)	5/186
Exports of goods and services (% of GDP)	8/163
ICT goods exports (% of total goods exports)	14/142
Manufactures exports (% of merchandise exports)	6/152
Medium and high-tech exports (% manufactured exports)	7/149
Imports of goods and services (% of GDP)	11/163
Manufactures imports (% of merchandise imports)	3/152
Social contributions (% of revenue)	5/81

Ranks in Bottom Decile For:

Attribute	Rank/Total
Arms exports (SIPRI trend indicator values)	34/34
Oil rents (% of GDP)	110/117
Chemicals (% of value added in manufacturing)	86/89
Food, beverages and tobacco (% of value added in manufacturing)	87/92
Foreign direct investment, net inflows (BoP, current US$)	168/182
Foreign direct investment, net inflows (% of GDP)	163/178
Food imports (% of merchandise imports)	147/152
Air transport, registered carrier departures worldwide	149/149
Air transport, passengers carried	146/149
Total reserves in months of imports	138/151
Taxes on international trade (% of revenue)	100/101
Other taxes (% of revenue)	104/106
Customs and other import duties (% of tax revenue)	98/99