According to the flash estimate, the Slovak economy had a growth of 1.8%

At the end of 2024, the Slovak economy maintained a year-on-year and a quarter-on-quarter growth. The growth rate was higher than in the previous quarter.

Gross domestic product (GDP) at constant prices¹⁾ increased by 1.8% year-on-year in the 4^th quarter of 2024. The growth rate was faster than in the previous quarter. After seasonal adjustment, the increase reached 1.7%. Compared to the previous quarter, GDP increased by 0.5%.²⁾ This follows from data released as a flash estimate of GDP for the fourth quarter, published as the first preliminary result on the economy.

During the last quarter of 2024, Slovakia's GDP at current prices reached a nominal value of EUR 33.9 billion. After converting to constant prices, GDP reached EUR 26.9 billion and a year-on-year growth thus reached EUR 468.5 million.

In total, the economy of the SR rose by 2% year-on-year for the entire year 2024.

GDP growth at constant prices in the 4^th quarter of 2024 was mainly affected by domestic demand, namely the final consumption of households and public administration. On the contrary, the performance of the economy slowed down the decline in investment activity.

Total employment in the reference period reached almost EUR 2 439 000 persons and decreased by 0.2% year-on-year. After seasonal adjustment, the number of employees dropped by 0.2% year-on-year and remained at the same level quarter-on-quarter (compared to Q3 2024).

The Statistical Office of the SR points out that the data on the performance of the economy for the previous quarters of 2024, as well as the quarterly and annual data of the national accounts since 1995, were revised as of October 18, 2024 as part of a major planned benchmark revision. More information in the news Benchmark revision will precise the GDP data for thirty years, and in the informative report The revision confirmed the better performance of the economy this year.