Slovakia’s growth opportunities lie in a more sustainable and higher value-added economy. Geothermal potential in Slovakia is approximately 6,300 GWh per year, but currently only 145 GWh are being used, which is only 2.6 % of the total potential. Geothermal waters in Slovakia are being used at 64 locations but more need to be built to heat networks, swimming pools, greenhouses and residences. The technical potential for large hydro power plants is 7,600 GWh, of which 62 % of is currently used. There are 25 large hydro power plants already built with an installed capacity of 2,446 MW. There is a good opportunity to build more small hydro power plants.
Slovakia is in central Europe, estimated population is 5 460 000. Slovakia occupies an area of 49 035 km2. The nation’s capital is Bratislava, the official language is Slovakian.
The country’s electricity generation is dominated by low-carbon sources and is largely met by nuclear power and hydropower.
The Slovak Republic has made significant progress on several fronts of energy policy. Together with its neighbours, the Slovak Republic has strengthened cross-border connections for electricity, natural gas and oil.
The Slovak Republic depends on imports for practically all of its crude oil and natural gas supply. As to gas, the Slovak Republic has made large investments in the cross-border infrastructure, which includes the reverse flow from the Czech Republic and Austria, the bidirectional reverse flow to Ukraine and an interconnection between the Slovak Republic and Hungary. An interconnection with Poland is under construction, and the feasibility of the Eastring project is being studied. As to oil, the Slovak Republic’s high dependency on Russian crude oil imports is well understood, and the government has been proactive in addressing the issue.
The Western Carpathian Mountains dominate the topography of Slovakia. They consist of a system of three regions of east-west-trending ranges—Outer, Central, and Inner—separated by valleys and intermontane basins.
Flows vary seasonally from the torrents of spring snowmelt to late-summer lows. Mountain lakes and mineral and thermal springs are numerous.
Slovakia’s easterly position gives it a more continental climate than that of the Czech Republic. Its mountainous terrain is another determining factor. Annual precipitation ranges from about 570 mm in the Danubian plains to more than 1,100 mm in windward mountain valleys.
With a population of 5.4 million, the Slovak Republic has a small, open economy driven mainly by automobile and electronics exports, which account for more than 80% of GDP. Slovakia joined the EU in 2004 and the euro zone in 2009. Slovakia’s macroeconomic performance positioned it as one of the most successful of the former Eastern-bloc countries.
Unemployment rate: 5% (2019 est.) 5.42% (2018 est.)
Slovakia has a modernized but relatively low-density transport system. The most important element is the railways, which are especially significant in freight transport—notably of coal, ores, metals, and building materials.