Slovakia profile

Demography and Health

Slovakia is home to about 5.42 million people in 2024, reflecting a mature demographic profile typical of many central European economies. The birth rate stands at 9.0 per 1,000 people and the crude death rate is around 10.0 per 1,000, contributing to a relatively slow natural increase in population. Life expectancy at birth is 78 years, and mortality under age five is about 6.1 per 1,000 live births, indicating generally strong health outcomes but with room for continued improvements in child health. Net migration in 2024 is negative, with about 21,000 people leaving the country, signaling a possible outflow of younger workers and talent that could affect future labor supply and aging dynamics. The unemployment rate is 5.84% (2023), suggesting a tightening labor market by international standards, yet challenges remain in ensuring inclusive employment. Poverty at national poverty lines affects roughly 13.7% of the population (2021), and the prevalence of undernourishment is 3.6% (2022), pointing to moderate material well-being but with inequality and regional disparities that may persist. Health spending is relatively robust, with current health expenditure at 7.73% of GDP (2022) and government health expenditure per capita, PPP, at about 2,531 international US$ (2022). Slovakia has a medical workforce of about 3.68 physicians per 1,000 people (2021), indicating a solid, albeit not oversized, capacity for basic and specialist care. The country also shows notable social indicators such as internet usage at 89.8% of the population (2024) and a suicide mortality rate of 9.91 per 100,000 (2021), which underscores ongoing attention to mental health and social well-being as part of health policy and public services. Innovation and human capital inputs are modest but present, with R&D expenditure at 0.979% of GDP (2022) and 146 resident patent applications (2021), suggesting a foundation for gradual improvement in a knowledge economy alongside health system strengthening.

Economy

Slovakia’s economy is characterized by high openness and a strong manufacturing orientation. GDP per capita is 26,148 current US$ in 2024, with GDP per capita at purchasing power parity around 47,181 international US$, placing the country in the upper‑middle income tier. The economy is highly export‑oriented, with exports of goods and services amounting to 85.2% of GDP in 2024 and imports at 85.0% of GDP, underscoring deep integration with global and especially European value chains. High-technology exports reached about 10.1 billion US$ in 2023, a sign of advanced industrial activity and specialization in knowledge-intensive sectors; this aligns with a notable share of technology‑intensive production and a knowledge-driven export profile. Inflation sits at 2.76% in 2024, roughly aligned with many EU peer economies. Unemployment is 5.84% in 2023, indicating a relatively tight labor market, while the current account balance stands at −2.75% of GDP in 2024, reflecting a moderate current‑account deficit that may reflect strong investment inflows or import dynamics tied to capital goods and energy. The country attracts foreign direct investment totaling 2.53% of GDP (2024), signaling ongoing integration into global investment networks. Regulatory quality (0.602) and rule of law (0.603) are in the mid‑high range in 2023, with political stability at 0.573; control of corruption is lower (0.293) and government effectiveness at 0.23, indicating a governance environment that is conducive to business but with scope for reforms in public administration and anti-corruption efforts. The economy also relies on research and development intensity of 0.979% of GDP (2022) and a modest patent activity by residents (146 in 2021), pointing to incremental capitalization of knowledge with potential for stronger innovation performance over time. Environmental indicators show total greenhouse gas emissions per capita of 8.25 t CO2e (2023) and renewable energy consumption of 17.9% of total final energy consumption (2021), signaling ongoing, but incomplete, decarbonization progress alongside a policy agenda focused on energy transition and sustainable growth.

Trade and Investment

Slovakia is a remarkably open economy with a heavy emphasis on trade integration. Exports of goods and services accounted for 85.2% of GDP in 2024, while imports also represented about 85% of GDP, illustrating deep external linkages and a manufacturing export base closely tied to intra-European markets. The country’s logistics infrastructure supports this openness, with the Logistics Performance Index rating for quality of trade and transport-related infrastructure at 3.3 (on a 1–5 scale) in 2022, ranking 13 globally—indicative of strong logistics capabilities that help sustain efficient cross-border trade. High-technology exports contributed around 10.1 billion US$ (2023), reinforcing Slovakia’s role as a supplier of advanced goods, including electronics and automotive components. Foreign direct investment, net inflows, stood at 2.53% of GDP in 2024, signaling ongoing investor interest and a relatively favorable investment climate, albeit with room for improvement in areas such as business environment and corruption controls. The current account balance sits at −2.75% of GDP (2024), suggesting a modest external deficit that could be tied to capital imports and infrastructure spending, while inflation remains manageable at 2.76% (2024). The nation benefits from a well‑developed trade ecosystem, with a significant proportion of trade tied to EU markets, and a track record of patent activity and R&D investment that points to potential for upgrading the product mix toward more sophisticated exports.

Governance and Institutions

Slovakia’s governance indicators show a mix of solid administrative capacity and areas needing improvement. Political Stability and Absence of Violence/Terrorism score 0.573 (2023), Regulatory Quality 0.602, and Rule of Law 0.603 indicate a generally reliable framework for business and civil life, with institutions that work reasonably well but are not among the most advanced globally. Control of Corruption is measured at 0.293 (2023), and Government Effectiveness at 0.23, placing Slovakia toward the mid‑range of governance performance and highlighting persistent challenges in combating corruption and improving government efficiency. These governance signals align with a moderate to positive investment climate but suggest that further reforms—especially in public administration, transparency, and rule of law enforcement—would help sustain investor confidence and support a more dynamic innovation ecosystem. The data imply a country that, while stable and predictable, could benefit from stronger institutions to unlock higher levels of productivity and equitable growth and from continued improvements in policy quality to better align public services with rapidly changing economic needs.

Infrastructure and Technology

Slovakia demonstrates solid infrastructure and technology readiness in several dimensions. The Logistics Performance Index for quality of trade and transport-related infrastructure is 3.3 (2022), ranking 13 globally, which signals well‑developed logistics and connectivity essential for a high‑tech, export‑oriented economy. Internet penetration is high, with 89.8% of the population using the Internet in 2024, reflecting strong digital infrastructure and broad citizen engagement online. High‑technology exports are robust, totaling about 10.1 billion US$ (2023), underscoring capabilities in technologically advanced production. Research and development expenditure stands at 0.979% of GDP (2022), a modest level that supports incremental innovation rather than a strong, knowledge‑driven economy, while resident patent applications are 146 in 2021, signaling room to scale domestic patenting activity. The health infrastructure is supported by domestic general government health expenditure per capita, PPP, of 2,531 international US$ (2022) and a physician density of 3.68 per 1,000 people (2021), ensuring reasonable access to medical services. On the technology front, the country’s energy profile shows renewable energy consumption at 17.9% of total final energy consumption (2021) and total greenhouse gas emissions per capita at 8.25 t CO2e (2023), illustrating ongoing challenges and opportunities in energy efficiency and decarbonization as digital and industrial modernization continue. Patents and innovation indicators suggest potential gains from policies that accelerate commercialization of research, bolster human capital, and improve the business environment for R&D activity.

Environment and Sustainability

Slovakia’s environmental indicators reflect a transition toward more sustainable growth, albeit with ongoing challenges. Renewable energy accounts for 17.9% of total final energy consumption (2021), indicating progress in diversifying energy supply but leaving room to raise the share of renewables and reduce dependence on fossil fuels. Total greenhouse gas emissions per capita stand at 8.25 t CO2e (2023), a figure that positions Slovakia among moderate emitters in the region, with potential to cut emissions further through energy efficiency, cleaner industry, and transportation decarbonization. Water resources stress appears modest, with level of water stress measured as freshwater withdrawal 2.44 (2021) and a rank of 145, suggesting that Slovakia currently experiences relatively low pressure on freshwater resources, though continued management is essential as demand grows. The prevalence of undernourishment is 3.6% (2022), indicating adequate food security at the national level, while the poverty rate at national poverty lines stands at 13.7% (2021), pointing to distributional and regional disparities that environmental policies should address alongside social measures. Together, these data imply that Slovakia has made meaningful strides toward sustainability but should pursue accelerated decarbonization, increased renewable investment, and more targeted environmental and social policies to support long-term resilience and inclusive growth.