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Economy of Singapore vs Slovakia compared: GDP & Debt

Updated on by Georank

Singapore has a GDP of $604B compared to $155B for Slovakia, ranking 28/197 and 60/197 by economy size, respectively.

Singapore has $1.03T in government debt (171.3% of GDP), compared to $95.3B (61.6% of GDP) in Slovakia.

Singapore vs Slovakia GDP by year

Singapore
Slovakia
1x
Year GDP, current $
Singapore Slovakia
2025 $603,869,516,999 $154,530,066,507
2024 $572,877,260,178 $140,934,076,532
2023 $511,181,761,244 $133,578,518,424
2022 $514,252,535,239 $115,792,972,358
2021 $441,110,903,525 $120,511,265,913
2020 $351,226,533,656 $107,732,602,896
2019 $376,827,390,962 $105,843,498,304
2018 $377,976,367,877 $106,611,673,365
2017 $344,795,119,214 $95,978,130,735
2016 $320,759,207,439 $90,347,173,229
2015 $307,998,545,269 $89,178,548,717
2014 $314,863,580,758 $101,713,075,599
2013 $307,576,360,585 $99,134,277,850
2012 $295,092,888,077 $94,724,394,278
2011 $279,356,499,090 $99,705,104,723
2010 $239,807,980,591 $91,112,160,801
2009 $194,150,283,772 $89,342,984,698
2008 $193,617,323,539 $96,685,492,864
2007 $180,941,701,358 $77,019,443,089
2006 $148,627,286,361 $57,111,148,619
2005 $127,807,848,728 $48,823,790,951
2004 $115,033,593,101 $42,960,730,480
2003 $97,646,401,096 $33,761,723,946
2002 $92,538,372,870 $24,768,142,566
2001 $89,793,790,670 $21,377,597,035
2000 $96,076,539,926 $20,626,538,612
1999 $86,286,849,755 $20,813,421,086
1998 $85,728,207,782 $22,911,708,405
1997 $100,123,787,215 $22,026,728,498
1996 $96,293,086,513 $21,864,845,214
1995 $87,812,540,788 $20,306,095,054
1994 $73,688,724,431 $16,187,735,322
1993 $60,603,815,716 $13,991,963,247
1992 $52,131,320,033 $12,932,972,789
1991 $45,466,164,978 $11,952,983,608
1990 $36,144,336,769 $17,068,924,602
1989 $30,465,364,739 -
1988 $25,371,462,488 -
1987 $20,919,215,578 -
1986 $18,586,746,057 -
1985 $19,156,532,746 -
1984 $19,749,361,098 -
1983 $17,784,112,150 -
1982 $16,084,252,378 -
1981 $14,175,228,844 -
1980 $11,896,256,783 -
1979 $9,296,921,724 -
1978 $7,517,176,355 -
1977 $6,618,585,074 -
1976 $6,327,077,974 -
1975 $5,633,673,930 -
1974 $5,221,534,956 -
1973 $3,696,213,333 -
1972 $2,721,440,981 -
1971 $2,263,785,444 -
1970 $1,920,574,150 -
1969 $1,659,893,768 -
1968 $1,425,706,091 -
1967 $1,238,035,816 -
1966 $1,096,425,608 -
1965 $974,644,096 -
1964 $894,153,311 -
1963 $917,608,012 -
1962 $826,239,212 -
1961 $764,629,788 -
1960 $704,751,700 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/singapore/slovakia | CC BY

GDP per capita in Singapore vs Slovakia by year

Singapore
GDP per capita

GDP per capita, PPP
Slovakia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Singapore Slovakia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $98,814 - $28,544 -
2024 $94,897 $150,689 $25,993 $48,132
2023 $86,383 $143,786 $24,615 $45,974
2022 $91,228 $143,095 $21,318 $41,562
2021 $80,885 $132,617 $22,123 $38,346
2020 $61,773 $101,518 $19,735 $35,328
2019 $66,069 $105,335 $19,406 $33,986
2018 $67,033 $103,963 $19,573 $31,510
2017 $61,436 $95,744 $17,646 $30,246
2016 $57,204 $89,902 $16,636 $29,868
2015 $55,646 $87,156 $16,442 $30,148
2014 $57,565 $84,555 $18,771 $29,108
2013 $56,967 $83,088 $18,313 $28,075
2012 $55,548 $82,108 $17,517 $27,023
2011 $53,891 $80,052 $18,469 $26,202
2010 $47,237 $75,401 $16,899 $25,382
2009 $38,927 $66,213 $16,587 $23,077
2008 $40,009 $67,735 $17,974 $23,714
2007 $39,433 $68,805 $14,330 $21,232
2006 $33,768 $64,061 $10,629 $18,906
2005 $29,961 $58,822 $9,087 $16,570
2004 $27,608 $54,384 $7,997 $15,166
2003 $23,730 $48,778 $6,283 $14,088
2002 $22,160 $45,083 $4,606 $13,292
2001 $21,700 $43,109 $3,974 $12,367
2000 $23,853 $43,781 $3,828 $11,370
1999 $21,797 $39,949 $3,857 $10,726
1998 $21,829 $37,560 $4,250 $10,666
1997 $26,376 $39,286 $4,092 $10,137
1996 $26,233 $36,873 $4,069 $9,500
1995 $24,915 $35,090 $3,787 $8,812
1994 $21,552 $33,058 $3,028 $8,178
1993 $18,290 $30,062 $2,627 $7,569
1992 $16,136 $27,022 $2,438 $7,270
1991 $14,502 $25,530 $2,254 $7,623
1990 $11,862 $23,815 $3,221 $8,638
1989 $10,395 - - -
1988 $8,914 - - -
1987 $7,539 - - -
1986 $6,800 - - -
1985 $7,002 - - -
1984 $7,228 - - -
1983 $6,633 - - -
1982 $6,078 - - -
1981 $5,597 - - -
1980 $4,928 - - -
1979 $3,901 - - -
1978 $3,194 - - -
1977 $2,846 - - -
1976 $2,759 - - -
1975 $2,490 - - -
1974 $2,342 - - -
1973 $1,685 - - -
1972 $1,264 - - -
1971 $1,071 - - -
1970 $926 - - -
1969 $813 - - -
1968 $709 - - -
1967 $626 - - -
1966 $567 - - -
1965 $517 - - -
1964 $486 - - -
1963 $511 - - -
1962 $472 - - -
1961 $449 - - -
1960 $428 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/singapore/slovakia | CC BY

Singapore's GDP per capita is $98,814, ranking 7/197, compared to $28,544 in Slovakia, ranking 46/197. Adjusted for purchasing power (GDP per capita PPP), Singapore ranks 2nd at $150,689, while Slovakia ranks 49th at $48,132.

Economic indicators

Singapore Slovakia
Gross domestic product
$604B
2025
$155B
2025
GDP rank
28/197
2025
60/197
2025
GDP growth
5.03%
2024-2025
0.81%
2024-2025
GDP per capita
$98,814
2025
$28,544
2025
GDP per capita rank
7/197
2025
46/197
2025
GDP per capita, PPP
$150,689
2024
$48,132
2024
GDP per capita PPP rank
2/197
2024
49/197
2024
Government debt
$1.03T
2025
$95.3B
2025
Debt-to-GDP ratio
171.3%
2025
61.6%
2025
Government debt per person
$169,228
2025
$17,597
2025
Government debt per person rank
1/185
2025
36/185
2025
Average annual personal income after taxes
$51,296
2026
$17,518
2026
Market capitalization of domestic companies
$824B
2025
$5.38B
2014
Number of millionaires
244,000
2026
n/a
Number of billionaires
55
2026
2
2026
Income share by richest 10% n/a
18.8%
2023
Income share by poorest 10% n/a
3.3%
2023
Government expenditure, % of GDP
15.5%
2025
48.7%
2025
Consumer prices inflation
0.9%
2024-2025
4%
2024-2025
Unemployment rate
3.26%
2025
5.4%
2025
Population
6167445
5376239

Spending and national debt comparison by year

Singapore
Spending

Debt
Slovakia
Spending

Debt
1x
Year % of GDP
Singapore Slovakia
Government spending Government debt Government spending Government debt
2025 15.5% 171.3% 48.7% 61.6%
2024 14.3% 166% 47.5% 59.7%
2023 14.6% 170.4% 48.2% 55.8%
2022 14.9% 153.3% 43.1% 57.8%
2021 15.4% 139.9% 44.8% 60.2%
2020 24% 147.1% 44.5% 58.4%
2019 14% 127.7% 40.6% 48%
2018 13.9% 109.2% 39.7% 49.3%
2017 13.6% 107.3% 39.8% 51.4%
2016 15.2% 105.9% 40.9% 52.1%
2015 14.4% 102.1% 44.1% 51.6%
2014 12.6% 97.7% 42% 53.4%
2013 10.9% 98.2% 41.1% 54.6%
2012 9.83% 106.7% 40% 51.7%
2011 9.66% 103.1% 40.8% 43.3%
2010 10.2% 98.7% 41% 40.7%
2009 15.9% 101.7% 43.2% 36.4%
2008 14% 97.9% 36.5% 28.6%
2007 9.01% 87.8% 35.9% 30.4%
2006 12.3% 86.5% 38.2% 31.5%
2005 12.4% 92.7% 39.1% 35%
2004 14.1% 95.7% 38.4% 42%
2003 15.6% 99.1% 40% 43.6%
2002 15.9% 96.3% 46% 45.6%
2001 18.2% 94.5% 46.2% 51.4%
2000 16.1% 82.3% 53.2% 50.6%
1999 15.9% 85.3% 48.4% 47.1%
1998 18.1% 84.6% 46.2% 33.9%
1997 14.5% 70.8% 48.6% 32.8%
1996 18.1% 71.3% 52.8% 30.3%
1995 13.8% 69.8% 47.8% 21.3%
1994 11.7% 70.7% - -
1993 14.5% 71.2% - -
1992 14.5% 79% - -
1991 15.9% 76.4% - -
1990 15.1% 73.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/singapore/slovakia | CC BY

In 2025, Singapore's government spending was $93.3B, accounting for 15.5% of its GDP, while Slovakia spent $75.3B, or 48.7% of GDP.

Debt-to-GDP ratio is 171.3% in Singapore and 61.6% in Slovakia, ranking 5/185 and 74/185, respectively.

Government deficit by year

Deficit/surplus
Singapore

Slovakia
1x
Year Deficit/surplus, % of GDP
Singapore Slovakia
2025 4.16% -5.02%
2024 3.79% -5.5%
2023 3.42% -5.3%
2022 1.2% -1.56%
2021 1.11% -5.09%
2020 -6.68% -5.3%
2019 3.76% -1.21%
2018 3.67% -1.01%
2017 5.23% -0.98%
2016 3.24% -2.59%
2015 2.86% -2.78%
2014 4.6% -3.25%
2013 5.96% -2.86%
2012 7.34% -4.37%
2011 7.96% -4.36%
2010 5.68% -7.44%
2009 -0.09% -8.18%
2008 3.59% -2.54%
2007 7.12% -2.26%
2006 2.16% -3.57%
2005 2.56% -2.86%
2004 2.06% -2.36%
2003 0.68% -2.28%
2002 2.23% -8.35%
2001 1.2% -7.74%
2000 4.59% -12.7%
1999 5.2% -7.25%
1998 2.41% -5.37%
1997 5.66% -6.24%
1996 1.98% -9.72%
1995 4.8% -3.43%
1994 7.9% -
1993 4.36% -
1992 2.7% -
1991 0.68% -
1990 1.97% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/singapore/slovakia | CC BY

In 2025, Singapore's government surplus, the difference between spending and revenue, was $25.1B, equivalent to 4.16% of GDP. This compares to Slovakia's deficit of $7.75B, or 5.02% of GDP.

Over the past 31 years, Singapore recorded a fiscal deficit in 2 of those years, while Slovakia ran a deficit in 31 years. On average, Singapore posted an annual surplus equal to 3.34% of GDP, compared to deficit of 4.63% of GDP for Slovakia.

Inflation comparison by year

Inflation
Singapore

Slovakia
1x
Year Consumer prices inflation
Singapore Slovakia
2025 0.9% 4%
2024 2.39% 2.76%
2023 4.83% 10.5%
2022 6.13% 12.8%
2021 2.32% 3.15%
2020 -0.17% 1.94%
2019 0.57% 2.66%
2018 0.44% 2.51%
2017 0.58% 1.31%
2016 -0.53% -0.52%
2015 -0.52% -0.33%
2014 1.03% -0.08%
2013 2.36% 1.4%
2012 4.58% 3.61%
2011 5.25% 3.92%
2010 2.83% 0.96%
2009 0.59% 1.62%
2008 6.64% 4.6%
2007 2.11% 2.76%
2006 0.97% 4.48%
2005 0.43% 2.71%
2004 1.66% 7.55%
2003 0.51% 8.55%
2002 -0.39% 3.13%
2001 1% 7.33%
2000 1.36% 12%
1999 0.02% 10.6%
1998 -0.27% 6.67%
1997 2% 6.14%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/singapore/slovakia | CC BY

Over the past 29 years, Singapore has recorded an average annual inflation rate of 1.71%, compared with 4.44% in Slovakia. In 2025, inflation was 0.9% in Singapore and 4% in Slovakia.

Top exports between countries

Singapore
Export category Export value
Machinery & equipment $25.3M
Metals $1.59M
Precious metals & jewellery $264K
Textiles & consumer goods $203K
Chemicals & pharma $152K
Raw agricultural goods $44K
Processed food, beverages & tobacco $11K
Miscellaneous $6K
Raw materials & minerals $6K
Wood & paper products $3K
Slovakia
Export category Export value
Business & finance services $56.4M
IT & IP services $35.9M
Machinery & equipment $23.4M
Raw materials & minerals $5.63M
Chemicals & pharma $4.03M
Textiles & consumer goods $2.53M
Metals $1.42M
Processed food, beverages & tobacco $951K
Transport & tourism services $857K
Wood & paper products $702K

Balance of trade

Singapore Slovakia
Current account balance
$101B
2025
-$5.6B
2025
Current account balance ranking
8/190
2025
165/190
2025
Current account balance, % of GDP
+16.7%
2025
-3.63%
2025
Goods imports
$475B
2025
$117B
2025
Goods exports
$652B
2025
$117B
2025
Service imports
$385B
2025
$14.3B
2025
Service exports
$422B
2025
$14.7B
2025
Imports of goods and services, % of GDP
142.5%
2025
85.2%
2025
Exports of goods and services, % of GDP
177.9%
2025
85.1%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Singapore Slovakia
Economic freedom 84.4 67.7
Economic freedom ranking 1/197 54/197
Property rights 89.2 82.6
Government integrity 86.1 57.2
Judicial effectiveness 58.3 70.5
Tax burden 89.5 75.4
Government spending 93.4 36.4
Fiscal health 80 69.6
Business freedom 90.6 71.1
Labor freedom 77 55.1
Monetary freedom 83.5 69.7
Trade freedom 95 79.4
Investment freedom 90 75
Financial freedom 80 70

Economic freedom comparison by year

Singapore
Slovakia
1x
Year Economic freedom index
Singapore Slovakia
2026 84.4 67.7
2025 84.1 68.4
2024 83.5 68.1
2023 83.9 69
2022 84.4 69.7
2021 89.7 66.3
2020 89.4 66.8
2019 89.4 65
2018 88.8 65.3
2017 88.6 65.7
2016 87.8 66.6
2015 89.4 67.2
2014 89.4 66.4
2013 88 68.7
2012 87.5 67
2011 87.2 69.5
2010 86.1 69.7
2009 87.1 69.4
2008 87.3 70
2007 87.1 69.6
2006 88 69.8
2005 88.6 66.8
2004 88.9 64.6
2003 88.2 59
2002 87.4 59.8
2001 87.8 58.5
2000 87.7 53.8
1999 86.9 54.2
1998 87 57.5
1997 87.3 55.5
1996 86.5 57.6
1995 86.3 60.4

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/singapore/slovakia | CC BY

The Economic Freedom Index for Singapore is 84.4, ranking 1/197, compared to 67.7 for Slovakia, ranking 54/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Singapore Slovakia
Services, % of GDP
71.6%
2025
59.8%
2025
Industry, % of GDP
22.7%
2025
28.1%
2025
Agriculture, forestry, and fishing, % of GDP
0.02%
2025
1.59%
2025
GNI, Atlas method
$500B
2025
$143B
2025
GNI per capita, PPP
$135,750
2025
$47,920
2025
Total reserves including gold
$432B
2025
$18.2B
2025
Total reserves ranking
11/177
2025
69/177
2025
Net foreign direct investment
-$64.9B
2025
-$198M
2025
Net inflows of foreign direct investment
$135B
2024
$5.01B
2024
Net outflows of foreign direct investment
$63.6B
2024
$2.24B
2024
Poverty at national poverty lines n/a
13.7%
2021
Gross capital formation, % of GDP
22.5%
2025
20.1%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/singapore/slovakia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2023–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.