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    Slovakia Economy - 2002
    http://www.greekorthodoxchurch.org/wfb2002/slovakia/slovakia_economy.html
    SOURCE: 2002 CIA WORLD FACTBOOK

      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 in 2001 in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, and foreign investment has picked up. Slovakia's economy exceeded expectations in 2001, despite recession in key export markets. Revival of domestic demand, partly due to a rise in real wages, offset slowing export growth to help drive the economy to its strongest expansion since 1998. Solid domestic demand is expected to boost economic growth to 3.4% in 2002, and about 4% in 2003. Unemployment, rising to 19.8% at the end of 2001, remained the economy's Achilles' heel. The government faces other strong challenges in 2002, especially the maintenance of fiscal balance ahead of the September 2002 parliamentary election, cutting budget and current account deficits, and privatization of the Slovak energy and power monopolies.

      GDP purchasing power parity - $62 billion (2001 est.)

      GDP - real growth rate 3% (2001 est.)

      GDP - per capita purchasing power parity - $11,500 (2001 est.)

      GDP - composition by sector
      agriculture: 4%
      industry: 32%
      services: 64% (2000 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) 7.4% (2001 est.)

      Labor force 3 million (1999)

      Labor force - by occupation industry 29.3%, agriculture 8.9%, construction 8%, transport and communication 8.2%, services 45.6% (1994)

      Unemployment rate 19.8% (yearend 2001 est.)

      Budget
      revenues: $5.2 billion
      expenditures: $5.6 billion, including capital expenditures of $NA (1999)

      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 4% (2001 est.)

      Electricity - production 27.53 billion kWh (2000)

      Electricity - production by source
      fossil fuel: 35.34%
      hydro: 17.11%
      other: 0% (2000)
      nuclear: 47.55%

      Electricity - consumption 25.203 billion kWh (2000)

      Electricity - exports 4.9 billion kWh (2000)

      Electricity - imports 4.5 billion kWh (2000)

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

      Exports $12.5 billion (f.o.b., 2001 est.)

      Exports - commodities machinery and transport equipment 39.4%, intermediate manufactured goods 27.5%, miscellaneous manufactured goods 13%, chemicals 8% (1999)

      Exports - partners EU 59.0% (Germany 26.8%, Italy 9.2%, Austria 8.4%), Czech Republic 17.4% (2000)

      Imports $14.4 billion (f.o.b., 2001 est.)

      Imports - commodities machinery and transport equipment 37.7%, intermediate manufactured goods 18%, fuels 13%, chemicals 11%, miscellaneous manufactured goods 9.5% (1999)

      Imports - partners EU 48.9% (Germany 25.1%, Italy 6.2%), Russia 17.0%, Czech Republic 14.7% (2000)

      Debt - external $7.8 billion (2001 est.)

      Economic aid - recipient $421.9 million (1995)

      Currency Slovak koruna (SKK)

      Currency code SKK

      Exchange rates koruny per US dollar - 47.792 (September 2001), 46.035 (2000), 41.363 (1999), 35.233 (1998), 33.616 (1997)

      Fiscal year calendar year

      NOTE: The information regarding Slovakia on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Slovakia Economy 2002 information contained here. All suggestions for corrections of any errors about Slovakia Economy 2002 should be addressed to the CIA.

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