Slovakia has been an EU member since 2004.  While growth may be lower in the upcoming months and the current account s expected to widen, the economy is still likely to expect growth.  We set out to examine the Slovakian economy as it currently stands.

Slovakia's Economic Structure

• Successful transition from planned to market economy
• Joined EU in May 2004
• Goal to adopt Euro on Jan 1, 2009
• GDP growth: 5.7%
• Fueled by exports and high domestic investment
• Manufacturing and construction
• Slovakia in the future
  
• 2008 GDP: 4.4%
• Government expenditures more significant than investment
• Inflation predicted to decrease from 2007 level (6.9%)
• Large Current Account deficit (-6.9% of GDP)
• Higher trade deficit expected for 2008

Slovakia's Demographics:

• 60% of Slovaks live in villages with fewer than 5,000 inhabitants
• To reach consumers, far reaching marketing efforts necessary
• Sex Ratio
• under 15 years: 1.05 male(s)/female
• 15-64 years: 0.99 male(s)/female
• 65 years and over: 0.6 male(s)/female
• Median Age
• male: 34.8 years
• female: 38.2 years
• GDP per Capita: $19,800

The Slovakian Economy, By Sector:

• Growing Tourism Sector
• Overnight stays above 8 million in 2007 for first time
• Italian and Austrian visitors largest groups
• More jobs in hotels, restaurants
• Manufacturing
• Advanced technology sectors growing
• Automotive, Transport Equipment
• Least advanced technology manufacturing sectors declining
• Leather, Textiles
• Banking Sector
• Largely in foreign control
• Major construction of highway infrastructure

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