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Slovakia Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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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 GDP

Medium 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 57/180

Medium to high level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
20% standard VAT rate
10% 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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Hundreds of companies in Slovakia and Slovak SMEs use Globartis for their operations.

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