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Sunday | January 17 | 2021

Slovakia GDP decreased by 12.1% in the second quarter of 2020

In the second quarter of 2020 the gross domestic product (GDP) at constant prices decreased by 12.1% as compared to the same quarter of 2019.

After seasonal adjustment GDP decreased by 12.1% as compared to the second quarter of 2019 and by 8.3% in comparison with the previous quarter.

The volume of GDP at current prices in the second quarter of 2020 reached EUR 21,210.5 million what represented the decrease by 10.4% in comparison with the same quarter of 2019.

The GDP slighter decline than expected was caused by increased activity in the last month of the second quarter in key industries, especially car manufacturing, as well as small businesses.

The positive foreign trade balance also contributed to the moderation of the decline in GDP.

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