Slovakia has made significant economic reforms since its separation from the Czech Republic in 1993. Reforms to the taxation, healthcare, pension, and social welfare systems helped Slovakia consolidate its budget and get on track to join the EU in 2004 after a period of relative stagnation in the early and mid 1990s and to adopt the euro in January 2009. Major privatizations are nearly complete, the banking sector is almost entirely in foreign hands, and the government has helped facilitate a foreign investment boom with business friendly policies. Slovakia's economic growth exceeded expectations in 2001-08 despite a general European slowdown. Foreign direct investment (FDI), especially in the automotive and electronic sectors, fueled much of the growth until 2008. Cheap and skilled labor, low taxes, a 19% flat tax for corporations and individuals, no dividend taxes, a relatively liberal labor code and a favorable geographical location are Slovakia's main advantages for foreign investors. The economy contracted 5% in 2009 primarily as a result of smaller inflows of FDI and reduced demand for Slovakia's exports before rebounding 4% in 2010 and 3.3% in 2011. Unemployment rose above 12% in 2010-11. The government of Prime Minister Iveta RADICOVA implemented reforms to curb corruption and improve government accountability - a major source of discontent with many Slovaks - and trimmed the budget deficit to 4.9% of GDP in 2011.

Data cover general Government Gross Debt, and includes debt instruments issued (or owned) by Government entities, including sub-sectors of central government, state government, local government, and social security funds.

This is the European Central Bank's rate on the marginal lending facility, which offers overnight credit to banks from the euro area; Slovakia became a member of the Economic and Monetary Union (EMU) on 1 January 2009

$37.49 billion (31 December 2011 est.)

$35.41 billion (31 December 2010 est.)

This figure represents the US dollar value of Slovak koruny in circulation prior to Slovakia joining the Economic and Monetary Union (EMU); see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders

$56.88 billion (31 December 2011 est.)

$51.92 billion (31 December 2010 est.)

$72.98 billion (31 December 2011 est.)

$66.62 billion (31 December 2010 est.)

$4.736 billion (31 December 2011)

$4.15 billion (31 December 2010)

$4.672 billion (31 December 2009)

Grains, potatoes, sugar beets, hops, fruit; pigs, cattle, poultry; forest products

Metal and metal products; food and beverages; electricity, gas, coke, oil, nuclear fuel; chemicals and manmade fibers; machinery; paper and printing; earthenware and ceramics; transport vehicles; textiles; electrical and optical apparatus; rubber products

9 million bbl (1 January 2011 est.)

14.16 billion cu m (1 January 2011 est.)

Machinery and electrical equipment 35.9%, vehicles 21%, base metals 11.3%, chemicals and minerals 8.1%, plastics 4.9% (2009 est.)

Germany 21.4%, Czech Republic 15.2%, Poland 7.9%, Hungary 7.8%, Austria 7.5%, France 6.7%, Italy 5.3% (2009 est.)

Machinery and transport equipment 31%, mineral products 13%, vehicles 12%, base metals 9%, chemicals 8%, plastics 6% (2009 est.)

Germany 19.2%, Czech Republic 18.5%, Russia 11.4%, Hungary 7%, Poland 5.5%, Austria 4.6%, Italy 4.1%, China 4% (2009 est.)

$2.462 billion (31 December 2011 est.)

$2.161 billion (31 December 2010 est.)

$72.94 billion (30 November 2011 est.)

$59.33 billion (30 June 2010 est.)

$52.78 billion (31 December 2011 est.)

$50.68 billion (31 December 2010 est.)

$3.32 billion (31 December 2011 est.)

$2.83 billion (31 December 2010 est.)