Slovakia

Phone Code: 00421

Root-level Domain Code: .sk

CIA Info

Background: The dissolution of the Austro-Hungarian Empire at the close of World War I allowed the Slovaks to join the closely related Czechs to form Czechoslovakia. Following the chaos of World War II, Czechoslovakia became a Communist nation within Soviet-ruled Eastern Europe. Soviet influence collapsed in 1989 and Czechoslovakia once more became free. The Slovaks and the Czechs agreed to separate peacefully on 1 January 1993. Slovakia joined both NATO and the EU in the spring of 2004.

Economy Overview: Slovakia has mastered much of the difficult transition from a centrally planned economy to a modern market economy. The DZURINDA government made excellent progress during 2001-04 in macroeconomic stabilization and structural reform. Major privatizations are nearly complete, the banking sector is almost completely in foreign hands, and the government has helped facilitate a foreign investment boom with business-friendly policies, such as labor market liberalization and a 19% flat tax. Foreign investment in the automotive sector has been strong. Slovakia's economic growth exceeded expectations in 2001-06, despite the general European slowdown. Unemployment, at an unacceptable 18% in 2003-04, dropped to 10.2% in 2006, but remains the economy's Achilles heel. Slovakia joined the EU on 1 May 2004.

Geography Note: landlocked; most of the country is rugged and mountainous; the Tatra Mountains in the north are interspersed with many scenic lakes and valleys

Location: Central Europe, south of Poland

Natural Resources: brown coal and lignite; small amounts of iron ore, copper and manganese ore; salt; arable land

Geographic Coordinates: 48 40 N, 19 30 E

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