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Slovakia Current Account to GDP Ratio

Slovakia's current account deficit widened to -2.8% of GDP in 2024 from -0.9% in 2023. This widening was driven by a negative goods trade balance as import prices rose faster than export prices. The government deficit which was 6.5% of GDP in 2023, also negatively affected the net external position. Expected import growth of 5.3% in 2024 exceeds anticipated export growth of 4.9%, further contributing to the deficit's expansion. Slovakia's record low current account to GDP was -9.6% in 2022 and record high was -0.5% in 2020.

Yearly Historical Data (2015-2024)

(in %)
Year Current Account to GDP Ratio
2024 -2.8%
2023 -0.9%
2022 -9.6%
2021 -4.8%
2020 -0.5%
2019 -3.5%
2018 -1.6%
2017 -1.7%
2016 -2.7%
2015 -2.1%
Slovakia Current Account to GDP Ratio : Definition
The Slovakia current account to GDP ratio measures the country's external balance relative to its total economic output. It is calculated by summing Slovakia's balance on goods, services, primary income and secondary income then dividing this total by its Gross Domestic Product GDP. The ratio is expressed as a percentage.
Indicator Last Value Prior Value Period
Debt to GDP Ratio 59.7% 55.8% Dec'24
Private Credit (% GDP) 59.3% 61.32% 2024