Slovak Q2 GDP Growth Matches Forecasts

Figures

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Slovakia's gross domestic product (GDP) was confirmed at 1.5% year-on-year in the second quarter of 2023, the highest reading in five quarters, following a 1% growth in the previous period, data from the Bratislava-based Slovak Statistical Office (SÚSR) showed.

Foreign trade contributed positively to the GDP, with exports rebounding by 0.1% (vs -4.7% in Q1), while imports fell by 8.3% (vs -13.3%).

There was a slowdown in fixed investments (5.2% vs 5.7%) and declines were seen in both private consumption (-3.6% vs -2.1%) and government spending (-2.2% vs -5.8%).

On a seasonally adjusted quarterly basis, the economy grew by 0.4%, after a 0.3% expansion in the previous quarter. 

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