The Slovak economy kept growing in the 1st quarter of 2023, however the growth was more moderate than at the end of 2022
The Gross domestic product (GDP) in chain-linking volumes1) increased in the first quarter of 2023 by 0.9 % year-on-year. After seasonal adjustments2), the GDP increased by 0.9 % year-on-year and by 0.2 % quarter-on-quarter.
High inflation caused a more significant difference between the value of GDP at current and constant prices. In the current prices, the first quarter of 2023 the GDP amounted to EUR 27.7 billion, representing in comparison with first quarter of 2022 increase by EUR 3.2 billion. After recalculation to constant prices, GDP reached EUR 21.4 billion.

Download high resolution chart format PDF (90 kB) or PNG (116 kB).
The growth of the Slovak economy was mainly supported by a surplus in foreign trade and growing investment demand.
Total employment in the reference period reached 2 million 423 thousand persons and increased by 0.5 % year-on-year. After seasonally adjustments, the number of employed persons increased by 0.7 % compared to the 1st quarter of 2022 and decreased by 0.1% quarter-on-quarter (compared to the 4th quarter of 2022).