Slovakia’s economy expanded by 0.9% year-on-year in the first quarter of 2026, in line with preliminary estimates and slightly below the one-year high of 1.0% recorded in the previous quarter. Industry (-0.7%) exerted the strongest downward pressure on growth, reflecting weaker manufacturing output in electrical equipment, coke and refined petroleum products, as well as rubber and plastic products. Additional drags came from contractions in financial and insurance activities (-7.3%) and in arts, entertainment and recreation (-1.9%).
On the expenditure side, growth was underpinned by a rebound in household consumption, which rose 1.1% after a 1.2% decline in the previous quarter, while government consumption slipped (-0.4% vs 0.3%). Gross fixed capital formation fell sharply, down 6.4%. Net exports, however, made a positive contribution to growth, as exports declined only marginally (-0.1%), compared with a larger drop in imports (-1.3%), turning the trade balance from a deficit in the previous quarter to a surplus. On a seasonally adjusted quarter-on-quarter basis, GDP increased by 0.2%, matching the pace registered in the prior quarter.
