Slovak GDP accelerates in Q1

Figures

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Slovakia's economy advanced by 3% year-on-year in the first quarter of 2022, following a 1.4% growth in the previous quarter, a preliminary estimate from the Bratislava-based Slovak Statistical Office (SÚSR) showed on Tuesday.

The expansion of the country's gross domestic product (GDP) was supported mainly by domestic demand, primarily consumer and investment demand, while foreign demand decreased.

On the production side, the main positive contributions came from wholesale and retail trade and the accommodation and catering services sector.

On the contrary, the manufacture of motor vehicles, which is the most important sector, contracted. On a seasonally adjusted quarterly basis, the economy expanded by 0.4%, the same pace as in the previous quarter.

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