Stats: Slovakia's GDP Up 0.6 Percent Y-o-Y in 2Q25

Bratislava, 5 September (TASR) - Slovakia's gross domestic product (GDP) grew by 0.6 percent year-on-year (y-o-y) in the second quarter of 2025, with the rate of growth below 1 percent for two consecutive quarters and at its lowest for the last ten quarters, the Statistics Office reported on Friday. Seasonally adjusted, GDP rose by 0.2 percent from the previous quarter. The growth can mostly be ascribed to domestic consumption, which increased by 0.5 percent, although this was the slowest rate seen in the last year and a half. Households were spending more in the second quarter, up by 2 percent y-o-y, with public sector consumption exceeding the 2 percent mark again, this time standing at 2.2 percent. After the previous double-digit growth, gross capital formation fell by 4.2 percent y-o-y in the second quarter. Exports of products and services grew in the second quarter by 3 percent, with imports growing by 2.9 percent. In total for the first half of this year, GDP grew by 0.7 percent in fixed prices. The nominal volume in current prices reached €65.6 billion. The volume of gross added value in fixed prices was slightly up y-o-y, by 0.4 percent, with increases posted in six of the ten monitored industrial branches. The overall figure was mainly influenced by domestic demand, up 1.8 percent y-o-y, with final consumption rising by 1.2 percent for households and by 1.7 percent for the public sector. Gross capital formation was also higher, up 4 percent. Conversely, the foreign trade balance was down by €47 million in current prices in the first half of 2025, with exports of products and services rising slower y-o-y (up 4.5 percent) than imports (up 5.8 percent). jrg/mcs