Current Account Balance: Slovakia

Analysis# Slovakia Current Account Balance Slovakia's current account balance stands at -2.5% of GDP in 2026, reflecting a modest deficit in its external trade position. Since 1993, the metric has shifted 46.8%, swinging from a peak surplus of 4.1% in 1994 to a severe deficit of -9.6% in 1996. The country has experienced considerable volatility over three decades, oscillating between surpluses and deficits as its economy integrated into global markets and later the eurozone. The most dramatic deterioration occurred in 2022, when Slovakia's current account plummeted to -9.6% of GDP, matching the historic low from 1996. Energy price shocks and supply chain disruptions drove this collapse. Recovery began in 2023, improving to -1.7%, and the deficit has since stabilized in the -2.5% to -2.9% range. Projections through 2026 suggest Slovakia will maintain a moderate deficit, neither returning to surplus nor experiencing the severe imbalances witnessed in 2022.