Bratislava [Slovakia], February 15: Slovakia's gross domestic product (GDP) increased by 2 percent in 2024, up from 1.4 percent the year before, according to a preliminary estimate released by the Slovak Statistics Office on Friday.
While in year-on-year terms, its GDP rose by 1.8 percent in the fourth quarter, compared to yr/yr growth of 1.2 percent in the third quarter of last year.
The Slovak economy preserved both its y-o-y and its quarter-on-quarter growth at the end of 2024, said the Statistics Office, adding that the pace of growth was higher than in the previous quarter.
GDP growth in fixed prices in the fourth quarter of 2024 was fueled mostly by domestic demand, especially household consumption and public administration consumption. Conversely, growth was dampened by a drop in investment activities.
The total number of employed people in Slovakia, which has a population of 5.4 million, fell by 0.2 percent year-on-year to around 2.44 million in Q4 after a 0.1 percent decline in Q3.
Source: Xinhua News Agency
