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Flash estimate of Gross domestic product and Total employment by ESA 2010 in the 1st quarter of 2022
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Flash estimate of Gross domestic product and Total employment by ESA 2010 in the 1st quarter of 2022

Last update: 17.05.2022
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: National accounts
Publish Date: 17.05.2022

Economy of the Slovak Republic in the first quarter of 2022 reached values from the pre-crisis period, GDP rose by 3.1% year-on-year

The Gross domestic product (GDP) in chain-linking volumes1) increased in the first quarter of 2022 by 3.1% year-on-year. After seasonal adjustments2), the GDP increased by 3% year-on-year and by 0.4% quarter-on-quarter. In the current situation, the first quarter of 2022 the GDP amounted to EUR 23.84 billion, representing a year-on-year increase by 9.3%.

The GDP values in current prices thus reached the approximately the same values as in the corresponding period of the pre-crisis year 2019. In the year-on-year comparison, the growth of the Slovak economy was supported mainly by domestic demand formed by consumer and investment demand, the foreign demand decreased. The growth of value added in this quarter was mainly due to the wholesale and retail trade and the accommodation and catering services sector. On the contrary, the decline was recorded in the most important sector, the manufacture of motor vehicles.

Total employment in the reference period reached 2.41 million people. Compared with the first quarter of 2021, it increased by 2.1%. After seasonal adjustments, total employment increased by 1.9% year-on-year and by 0.4% quarter-on-quarter.

Note: The quick estimate is compiled according to the ESA 2010 methodology based on the first compilatíon of results for the total economy; total employment (under ESA 2010) is expressed as the number of persons employed (employees and self-employed persons).

  • 1) constant prices are calculated by chain-linking volumes to the reference year 2015
  • 2) seasonally adjusted results are updated quarterly in the whole time series; due to the impact of the COVID-19 crisis, some values of the GDP time series were modeled as extremes; the value for the 1st quarter of 2020 is modeled as a break of the trend (level shift), the values for the 2nd quarter of 2020 and the 1st quarter of 2021 are modeled as one-off extremes.

Data source Database Datacube:

Flash estimate of Gross Domestic Product and Employment will be precised on the basis of next available statistical and administrative data and complemented by structures for individual indicators and published on June 7, 2022 at 9,00 on the SO SR´s website (in the Information reports catalogue and in the DATAcube. database) and subsequently also in the publication Statistical report on the basic development trends in the economy of the SR in the 1st quarter of 2022 published in the Publicatons of the catalogues SO SR.

  • Issued by :

  • Statistical Office of the SR
  • Lamačská cesta 3/C
  • 840 05 Bratislava 45
  • Slovak Republic
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  • +421 2 50 236 335
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While publishing of the whole information report or its parts, please state the source of information, the Statistical Office of the Slovak Republic. The Statistical Office of the SR creates high-quality statistics useful for society according to 16 principles regarding the institutional environment, statistical processes and outputs in line with the Code of Practice for European Statistics.

/wps/portal/ext/products/informationmessages/inf_sprava_detail Flash estimate of Gross domestic product and Total employment by ESA 2010 in the 1st quarter of 2022 Z6_Q7I8BB1A00BL30IJKSNHCF2GU5 /Štatistický úrad SR - Home /Products /Information reports Catalogue /Detail