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Slovakia Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
5,445,040 (July 2018 est.)GDP (PPP)
$179.7 billion (2017 est.)Small and open economy driven mainly by automobile and electronics exports, which account for more than 80% of GDP
GDP growth rate
3.4% (2017 est.)High and stable growth
GDP (PPP) per capita
$33,100 (2017 est.)Medium to high. One of the highest of the eastern countries of the European Union
Local currency
Euro (EUR)The second most importat currency in the world after the USD
Financial stability (Public debt)
50.9% (2017 est.) of GDPMedium to low and quite stable
Inflation
1.3% (2017 est.)Still low but recovering from deflation
Language
Slovak (official)English is spoken as a second language in the main urban areas
Corruption perception index (Source: Transparency International)
Rank 57/180Medium to high level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
20% standard VAT rate10% reduced VAT rate (listed medical products, books, listed food)
Corporate Tax
21% standard rate
Duties
European Union customs duties/import tariffs apply
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