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GDP up 9.6 percent in 2Q21

GDP up 9.6 percent in 2Q21

Slovakia's gross domestic product (GDP) grew by 9.6 percent in the second quarter of this year, chiefly driven by exports, investments and domestic consumption, the Statistics Office reported on Friday. GDP still failed to reach its pre-pandemic level, remaining, however, 2.3 percent below the figure seen in the second quarter of 2019, but the growth of almost 10 percent is the highest figure reported since the final quarter of 2007. "This rapid growth was expected, as the comparison base was the second quarter of last year, when GDP fell by as much as 10.9 percent due to the coronavirus pandemic," explained the office.
After seasonal adjustments, GDP was 2 percent higher than in the first quarter of this year.
GDP in current prices amounted to €24 billion, up 11.8 percent from the second quarter of last year.
Most sectors posted y-o-y increases in added value in 2Q21, but only three groups of them managed to reach or exceed pre-pandemic levels. These were wholesale, retail, transport and warehousing and accommodation and catering services (almost 12 percent above the pre-pandemic level); real estate-related activities (1.2 percent above the pre-pandemic level); and public administration (equalling the pre-pandemic level).

Source: TASR

Martina Šimkovičová, Photo: TASR