Slovak GDP grows by 3.4% in 2011 Q4

March 7, 2012 9:04 am 

BRATISLAVA, March 7 — The Slovak economy grew by 3.4 percent in the fourth quarter of 2011 from the same period in 2010, the country's official statistics office said on Tuesday.

The Slovak economy produced goods and services worth 69.1 billion euros (about 90.6 billion U.S. dollars) in the whole year of 2011.

Quarter on quarter, the country's GDP increased by 0.9 percent in the October-December period.

Despite a slowdown in the growth of Slovakia's chief trading partners, the Slovak exports of products and services in the last quarter of 2011 went up by 7.5 percent year on year, while the imports shrank by 1 percent.

"Net exports continued to be the main source of GDP growth," said the statistics office.

Meanwhile, domestic demand dropped by 2.4 percent year-on-year, with a 6.4-percent drop observed in the creation of gross capital. (PNA/Xinhua)



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