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Stats Office: GDP Grew by 3.7 percent in 3Q10
Thursday 02 December 2010 Zoom in | Print page
Bratislava, December 2 (TASR-SLOVAKIA) - The Slovak economy grew by 3.8 percent y-o-y in the third quarter of this year, Statistics Office reported on Thursday, after revising its preliminary estimate of 3.7 percent.
The tempo of growth therefore decelerated slightly (by 0.4 percentage points) compared to the first second of 2010, when it reached 4.2 percent y-o-y.
In the July-September period, Slovakia's gross domestic product reached €17.47 billion. The economic development in 3Q10 was mainly influenced by increase of international demand, which grew by 14.8 percent y-o-y. Import grew by 16.6 percent.
In comparison to 2Q10, GDP in Slovakia grew by 1 percent.
Prognoses made by international institutions, the Finance Ministry and the central bank (NBS) have indicated that the recovery in Slovakia's economy after a slump of -4.7 percent y-o-y last year should be among the healthiest in the EU in 2010. While the Finance Ministry expects growth to reach 3.2 percent y-o-y in 2010, the central bank has forecast 3.7-percent growth. The International Monetary Fund is even more optimistic, expecting that Slovakia's economic growth should reach 4 percent y-o-y in 2010.
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