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Flash estimate of Gross domestic product and Total employment by ESA 2010 in the 1st quarter of 2020

Flash estimate of Gross domestic product and Total employment by ESA 2010 in the 1st quarter of 2020

Last update: 15.05.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: National accounts
Publish Date: 15.05.2020

In the first quarter of 2020 the gross domestic product (GDP) at constant prices 1)  decreased by 3.9 % as compared to the same quarter of 2019. After seasonal adjustment, GDP decreased by 4.1 % as compared to the first quarter of 2019 and by 5.4 % in comparison with the previous quarter. 2) 3)

At current prices, GDP in the first quarter of 2020 amounted to 21,433.7 mil. EUR, which represents a decrease of 1 % compared to the 1st quarter of 2019.

The unfavourable economic development is due to the decline in value added in key industries, especially in car production and in several service sectors. External demand made a significant contribution to the decreasing GDP, and the dynamics of its year-on-year decline accelerated. Due to the current situation, the growth of domestic demand is insufficient, with final consumption expenditures in the general government sector growing the most. Investment demand has declined in comparison with previous quarters.

Total employment in the reference period reached 2,425.8 thousand persons. In com­pa­rison with the first quarter of 2019 it decreased by 0.5 %. Seasonally adjusted total employment decreased by 0.4 % as compared to the first quarter of 2019 and by 0.5 % as com­pa­red to the fourth quarter of 2019.

Flash estimate of gross domestic product and total employment will be updated and supplemented with other structures of the indicators on the basis of subsequent available statistical and administrative data. The data will be published in the Statistical report on basic development tendencies in economy of the Slovak Republic in the first quarter of 2020. The updated results will be published on June 5, 2020 at 9,00 am on the web page of the SO SR (www.statistics.sk).

Please note that due to the current exceptional situation with regard to Covid-19, the data may be revised to a greater extent than usual. This is due to the higher share of estimates due to the limited availability of information from data sources.

We would like to thank all the companies that, in the current difficult situation, provided the Statistical Office of the Slovak Republic with the primary data needed to compile GDP and employment.

At the same time, we inform that the Statistical Office of the Slovak Republic performed the spring revision of national accounts data in accordance with the national revision policy valid from 1 January 2020. Revision adjustments of individual transactions and indicators took into account new information and precised source data in the time series of years and quarters 2016-2018, including the preliminary annual account for the year 2019.

The change in real GDP in individual quarters ranges from -0.4 percentage point to +0.3 p. b. and the change in individual years was from -0.1 percentage point to +0.1 p. b.

 Information on the revised annual and quarterly data of national accounts is published on the website of the Statistical Office of the Slovak Republic and in the relevant databases.


Notice: the flash estimate is compiled in accordance with the ESA 2010 methodology and is based on the first processed results for the total economy;
is presented as the number of employed persons (employees and self-employed);
1) chain-linked volumes with reference year 2015
2) seasonally adjusted results are revised each quarter along the whole time series 
3) In accordance with Eurostat's guidance on treatment of COVID-19 crisis effects on time series data, the value for the 1st quarter of 2020 was modelled as an additive outlier. When the following quarters will be available, the type of outlier can be changed either to level shift or transitory change, depending on the type of economic impact of the COVID-19 crisis on the time series.


  • Issued by :

  • Statistical Office of the SR
  • Miletičova 3
  • 824 67 Bratislava
  • Slovak Republic
  • Information Services :

  • tel. +421 2 50 236 339
  • +421 2 50 236 335
  • e-mail: info@statistics.sk

While publishing of the whole information report or its parts, please state the source of information, the Statistical Office of the Slovak Republic

/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 2020 Z6_Q7I8BB1A00BL30IJKSNHCF2GU5 /Štatistický úrad SR - Home /Products /Information reports Catalogue /Detail