Part 89
International organization participation: ACP, AfDB, C, CCC, ECA, ECOWAS, FAO, G-77, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat (nonsignatory user), Interpol, IOC, ITU, NAM, OAU, OIC, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in the US: chief of mission: Ambassador John Ernest LEIGH chancery: 1701 19th Street NW, Washington, DC 20009 telephone: [1] (202) 939-9261 through 9263 FAX: [1] (202) 483-1793
Diplomatic representation from the US: chief of mission : Ambassador John L. HIRSCH embassy: Corner of Walpole and Siaka Stevens Streets, Freetown mailing address: use embassy street address telephone: [232] (22) 226481 through 226485 FAX : [232] (22) 225471
Flag description: three equal horizontal bands of light green (top), white, and light blue
Economy
Economy - overview: Sierra Leone has substantial mineral, agricultural, and fishery resources. However, the economic and social infrastructure is not well developed, and serious social disorders continue to hamper economic development. Agriculture employs about two-thirds of the working population, with subsistence agriculture dominating the sector. Manufacturing consists mainly of the processing of raw materials and of light manufacturing for the domestic market. The mining of diamonds, bauxite, and rutile is the major source of hard currency. The government has worked hard to meet its IMF- and World Bank-mandated stabilization targets, holding down fiscal deficits and retiring much of its domestic debt, but at a steep cost in terms of forgone capital investments and social spending. Moreover, the economic infrastructure has nearly collapsed due to neglect and war-related disruptions in the mining and agricultural export sectors. The continuing civil war in Liberia has led to a large influx of refugees, who place additional burdens on Sierra Leone's fragile economy.
GDP: purchasing power parity - $4.7 billion (1996 est.)
GDP - real growth rate: 5% (1996 est.)
GDP - per capita: purchasing power parity - $980 (1996 est.)
GDP - composition by sector: agriculture: 49% industry: 21% services: 30% (1995)
Inflation rate - consumer price index: 5.6% (1996)
Labor force: total: 1.369 million (1981 est.) by occupation: agriculture 65%, industry 19%, services 16% (1981 est.) note: only about 65,000 wage earners (1985)
Unemployment rate: NA%
Budget: revenues : $75 million expenditures: $128 million, including capital expenditures of $NA (FY94/95 est.)
Industries: mining (diamonds, bauxite, rutile); small-scale manufacturing (beverages, textiles, cigarettes, footwear); petroleum refining
Industrial production growth rate: NA%
Electricity - capacity: 119,000 kW (1991)
Electricity - production: 185 million kWh (1991)
Electricity - consumption per capita: 43 kWh (1991 est.)
Agriculture - products: rice, coffee, cocoa, palm kernels, palm oil, peanuts; poultry, cattle, sheep, pigs; fish
Exports: total value: $39.3 million (f.o.b., 1995) commodities: rutile, diamonds, bauxite, coffee, cocoa, fish partners: US 20%, Belgium 20%, Spain 13%, UK 6%, other Western Europe
Imports: total value: $140 million (c.i.f., 1995) commodities: foodstuffs, machinery and equipment, fuels and lubricants partners: Cote d'Ivoire, EU countries, India
Debt - external: $1.4 billion (1994)
Economic aid: recipient: ODA, $NA
Currency: 1 leone (Le) = 100 cents
Exchange rates: leones (Le) per US$1 - 908.08 (January 1997), 920.73 (1996), 755.22 (1995), 586.74 (1994), 567.46 (1993), 499.44 (1992)
Fiscal year: 1 July - 30 June
@Sierra Leone:Communications
Telephones: 17,526 (1991 est.)
Telephone system: marginal telephone and telegraph service domestic: national microwave radio relay system made unserviceable by military activities international: satellite earth station - 1 Intelsat (Atlantic Ocean)
Radio broadcast stations: AM 1, FM 1, shortwave 0
Radios: 980,000 (1992 est.)
Television broadcast stations: 1
Televisions: 45,000 (1992 est.)
@Sierra Leone:Transportation
Railways: total : 84 km used on a limited basis because the mine at Marampa is closed narrow gauge: 84 km 1.067-m gauge
Highways: total: 11,674 km paved: 1,284 km unpaved : 10,390 km (1995 est.)
Waterways: 800 km; 600 km navigable year round
Ports and harbors: Bonthe, Freetown, Pepel
Merchant marine: none
Airports: 4 (1996 est.)
Airports - with paved runways: total: 2 over 3,047 m: 1 914 to 1,523 m: 1 (1996 est.)
Airports - with unpaved runways: total : 2 914 to 1,523 m: 2 (1996 est.)
Military
Military branches: Army, Navy, Police, Security Forces
Military manpower - availability: males age 15-49 : 1,037,049 (1997 est.)
Military manpower - fit for military service: males: 503,252 (1997 est.)
Military expenditures - dollar figure: $14 million (FY92/93)
Military expenditures - percent of GDP: 2.6% (FY92/93)
Transnational Issues
Disputes - international: none ______________________________________________________________________
SINGAPORE
@Singapore:Geography
Location: Southeastern Asia, islands between Malaysia and Indonesia
Geographic coordinates: 1 22 N, 103 48 E
Map references: Southeast Asia
Area: total: 647.5 sq km land: 637.5 sq km water: 10 sq km
Area - comparative: slightly more than 3.5 times the size of Washington, DC
Land boundaries: 0 km
Coastline: 193 km
Maritime claims: exclusive fishing zone : within and beyond territorial sea, as defined in treaties and practice territorial sea: 3 nm
Climate: tropical; hot, humid, rainy; no pronounced rainy or dry seasons; thunderstorms occur on 40% of all days (67% of days in April)
Terrain: lowland; gently undulating central plateau contains water catchment area and nature preserve
Elevation extremes: lowest point: Singapore Strait 0 m highest point: Bukit Timah 166 m
Natural resources: fish, deepwater ports
Land use: arable land: 2% permanent crops: 6% permanent pastures: NA% forests and woodland: 5% other : 87% (1993 est.)
Irrigated land: NA sq km
Natural hazards: NA
Environment - current issues: industrial pollution; limited natural fresh water resources; limited land availability presents waste disposal problems
Environment - international agreements: party to: Biodiversity, Endangered Species, Hazardous Wastes, Law of the Sea, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution signed, but not ratified : Climate Change
Geography - note: focal point for Southeast Asian sea routes
@Singapore:People
Population: 3,440,693 (July 1997 est.)
Age structure: 0-14 years : 21% (male 378,651; female 357,070) 15-64 years: 72% (male 1,237,478; female 1,239,494) 65 years and over: 7% (male 101,536; female 126,464) (July 1997 est.)
Population growth rate: 1.67% (1997 est.)
Birth rate: 14.13 births/1,000 population (1997 est.)
Death rate: 4.68 deaths/1,000 population (1997 est.)
Net migration rate: 7.27 migrant(s)/1,000 population (1997 est.)
Sex ratio: at birth : 1.08 male(s)/female under 15 years: 1.06 male(s)/female 15-64 years: 1 male(s)/female 65 years and over: 0.8 male(s)/female total population : 1 male(s)/female (1997 est.)
Infant mortality rate: 3.9 deaths/1,000 live births (1997 est.)
Life expectancy at birth: total population : 78.15 years male: 75.14 years female: 81.4 years (1997 est.)
Total fertility rate: 1.46 children born/woman (1997 est.)
Nationality: noun: Singaporean(s) adjective: Singapore
Ethnic groups: Chinese 76.4%, Malay 14.9%, Indian 6.4%, other 2.3%
Religions: Buddhist (Chinese), Muslim (Malays), Christian, Hindu, Sikh, Taoist, Confucianist
Languages: Chinese (official), Malay (official and national), Tamil (official), English (official)
Literacy: definition: age 15 and over can read and write total population : 91.1% male: 95.9% female: 86.3% (1995 est.)
@Singapore:Government
Country name: conventional long form: Republic of Singapore conventional short form: Singapore
Data code: SN
Government type: republic within Commonwealth
National capital: Singapore
Administrative divisions: none
Independence: 9 August 1965 (from Malaysia)
National holiday: National Day, 9 August (1965)
Constitution: 3 June 1959, amended 1965 (based on preindependence State of Singapore Constitution)
Legal system: based on English common law; has not accepted compulsory ICJ jurisdiction
Suffrage: 20 years of age; universal and compulsory
Executive branch: chief of state : President ONG Teng Cheong (since 1 September 1993) head of government: Prime Minister GOH Chok Tong (since 28 November 1990) and Deputy Prime Ministers LEE Hsien Loong (since 28 November 1990) and Tony TAN Keng Yam (since 1 August 1995) cabinet: Cabinet appointed by the president, responsible to Parliament elections : president elected by popular vote for a six-year term; election last held 28 August 1993 (next to be held NA August 1999); following legislative elections, the leader of the majority party or the leader of a majority coalition is usually appointed prime minister by the president; deputy prime ministers appointed by the president election results: ONG Teng Cheong elected president in the country's first popular election for president; percent of vote - ONG Teng Cheong 59%, CHUA Kim Yeow 41%
Legislative branch: unicameral Parliament (83 seats; members elected by popular vote to serve five-year terms) elections: last held 2 January 1997 (next to be held by 2002) election results: percent of vote by party - PAP 65% (in contested constituencies), other 35%; seats by party - PAP 81, WP 1, SPP 1
Judicial branch: Supreme Court, chief justice is appointed by the president with the advice of the prime minister, other judges are appointed by the president with the advice of the chief justice; Court of Appeals
Political parties and leaders: government : People's Action Party (PAP), GOH Chok Tong, secretary general opposition: Singapore Democratic Party (SDP), CHEE Soon Juan; Workers' Party (WP), J. B. JEYARETNAM; National Solidarity Party (NSP), C. K. TAN; Singapore People's Party (SPP), CHIAM See Tong
International organization participation: APEC, AsDB, ASEAN, BIS (pending member), C, CCC, CP, ESCAP, G-77, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IFC, IFRCS, IHO, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, ISO, ITU, Mekong Group, NAM, PCA, UN, UNCTAD, UNIKOM, UPU, WHO, WIPO, WMO, WTrO
Diplomatic representation in the US: chief of mission: Ambassador CHAN Heng Chee chancery: 3501 International Place NW, Washington, DC 20008 telephone: [1] (202) 537-3100 FAX: [1] (202) 537-0876
Diplomatic representation from the US: chief of mission: Ambassador Timothy A. CHORBA embassy : 27 Napier Road, Singapore 258508 mailing address: FPO AP 96534 telephone: [65] 476-9100 FAX: [65] 476-9340
Flag description: two equal horizontal bands of red (top) and white; near the hoist side of the red band, there is a vertical, white crescent (closed portion is toward the hoist side) partially enclosing five white five-pointed stars arranged in a circle
Economy
Economy - overview: Singapore has an open economy with strong service and manufacturing sectors and excellent international trading links derived from its entrepot history. A slump in global demand for electronics slowed Singapore's export growth in 1996, and as a result, real GDP grew 6.5%, down from 8.9% in 1995. The government predicts growth will be in the 5%-7% range in 1997. Rising labor costs continue to be a threat to Singapore's competitiveness, and the government's strategy to address this problem includes increasing productivity, improving infrastructure, and encouraging higher value-added industries. In applied technology, per capita output, investment, and labor discipline, Singapore has key attributes of a developed country.
GDP: purchasing power parity - $72.2 billion (1996 est.)
GDP - real growth rate: 6.5% (1996)
GDP - per capita: purchasing power parity - $21,200 (1996 est.)
GDP - composition by sector: agriculture: NEGL% industry: 28% services : 72%
Inflation rate - consumer price index: 1.3% (1996)
Labor force: total: 1.801 million (1996 est.) by occupation : financial, business, and other services 33.5%, manufacturing 25.6%, commerce 22.9%, construction 6.6%, other 11.4% (1994)
Unemployment rate: 2.7% (1996 est.)
Budget: revenues: $18.5 billion expenditures: $13.5 billion, including capital expenditures of $4.4 billion (FY96/97 est.)
Industries: petroleum refining, electronics, oil drilling equipment, rubber processing and rubber products, processed food and beverages, ship repair, entrepot trade, financial services, biotechnology
Industrial production growth rate: 7% (1996 est.)
Electricity - capacity: 4.51 million kW (1994)
Electricity - production: 22.1 billion kWh (1995)
Electricity - consumption per capita: 7,002 kWh (1995)
Agriculture - products: rubber, copra, fruit, vegetables; poultry
Exports: total value: $144.8 billion (1996 est.) commodities: computer equipment, rubber and rubber products, petroleum products, telecommunications equipment partners: Malaysia 19%, US 18%, Hong Kong 9%, Japan 8%, Thailand 6% (1995)
Imports: total value: $151.1 billion (1996 est., including goods for reexport) commodities: aircraft, petroleum, chemicals, foodstuffs partners: Japan 21%, Malaysia 15%, US 15%, Thailand 5%, Taiwan 4%, South Korea 4% (1995)
Debt - external: $NA
Economic aid: $NA
Currency: 1 Singapore dollar (S$) = 100 cents
Exchange rates: Singapore dollars (S$) per US$1 - 1.4061 (January 1997), 1.4100 (1996), 1.4174 (1995), 1.5274 (1994), 1.6158 (1993), 1.6290 (1992)
Fiscal year: 1 April - 31 March
@Singapore:Communications
Telephones: 1.23 million (1993 est.)
Telephone system: good domestic facilities; good international service domestic: NA international: submarine cables to Malaysia (Sabah and Peninsular Malaysia), Indonesia, and the Philippines; satellite earth stations - 2 Intelsat (1 Indian Ocean and 1 Pacific Ocean), and 1 Inmarsat (Pacific Ocean region)
Radio broadcast stations: AM 13, FM 4, shortwave 0
Radios: NA
Television broadcast stations: 4 (1996)
Televisions: 1.05 million (1992 est.)
@Singapore:Transportation
Railways: total: 38.6 km narrow gauge: 38.6 km 1.000-m gauge note: there is a 67 km mass transit system with 42 stations
Highways: total: 2,972 km paved: 2,892 km (including 132 km of expressways) unpaved : 80 km (1995 est.)
Ports and harbors: Singapore
Merchant marine: total : 737 ships (1,000 GRT or over) totaling 15,420,046 GRT/24,508,019 DWT ships by type: bulk 122, cargo 123, chemical tanker 24, combination bulk 8, combination ore/oil 6, container 115, liquefied gas tanker 23, livestock carrier 1, multifunction large-load carrier 6, oil tanker 259, refrigerated cargo 7, roll-on/roll-off cargo 14, short-sea passenger 1, specialized tanker 4, vehicle carrier 24 note: a flag of convenience registry; includes ships from 24 countries among which are Japan 42, Denmark 33, Hong Kong 26, Germany 22, Thailand 17, Sweden 15, Belgium 11, China 10, US 10, and Indonesia 8; Singapore also owns an additional 220 ships (1,000 GRT or over) totaling 10,289,213 DWT that operate under the registries of The Bahamas, Cyprus, Hong Kong, Honduras, Liberia, Malta, Malaysia, Panama, Thailand, Saint Vincent and the Grenadines, and Vanuatu (1996 est.)
Airports: 8 (1996 est.)
Airports - with paved runways: total: 8 over 3,047 m: 2 2,438 to 3,047 m: 1 1,524 to 2,437 m : 3 914 to 1,523 m: 1 under 914 m: 1 (1996 est.)
Military
Military branches: Army, Navy, Air Force, People's Defense Force, Police Force
Military manpower - availability: males age 15-49: 1,034,380 (1997 est.)
Military manpower - fit for military service: males: 756,649 (1997 est.)
Military expenditures - dollar figure: $3.64 billion (FY95/96)
Military expenditures - percent of GDP: 5.2% (FY95/96)
Transnational Issues
Disputes - international: two islands in dispute with Malaysia
Illicit drugs: transit point for Golden Triangle heroin going to the US, Western Europe, and the Third World; also a money-laundering center ______________________________________________________________________
SLOVAKIA
@Slovakia:Geography
Location: Central Europe, south of Poland
Geographic coordinates: 48 40 N, 19 30 E
Map references: Europe
Area: total: 48,845 sq km land: 48,800 sq km water: 45 sq km
Area - comparative: about twice the size of New Hampshire
Land boundaries: total: 1,355 km border countries: Austria 91 km, Czech Republic 215 km, Hungary 515 km, Poland 444 km, Ukraine 90 km
Coastline: 0 km (landlocked)
Maritime claims: none (landlocked)
Climate: temperate; cool summers; cold, cloudy, humid winters
Terrain: rugged mountains in the central and northern part and lowlands in the south
Elevation extremes: lowest point: Bodrok River 94 m highest point: Gerlachovka 2,655 m
Natural resources: brown coal and lignite; small amounts of iron ore, copper and manganese ore; salt
Land use: arable land: 31% permanent crops : 3% permanent pastures: 17% forests and woodland: 41% other: 8% (1993 est.)
Irrigated land: 800 sq km (1993 est.)
Natural hazards: NA
Environment - current issues: air pollution from metallurgical plants presents human health risks; acid rain damaging forests
Environment - international agreements: party to : Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Sulphur 85, Antarctic Treaty, Biodiversity, Climate Change, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling signed, but not ratified: Air Pollution-Sulphur 94, Antarctic-Environmental Protocol
Geography - note: landlocked
@Slovakia:People
Population: 5,387,665 (July 1997 est.)
Age structure: 0-14 years: 21% (male 588,511; female 563,090) 15-64 years : 68% (male 1,802,132; female 1,831,119) 65 years and over: 11% (male 233,476; female 369,337) (July 1997 est.)
Population growth rate: 0.12% (1997 est.)
Birth rate: 10.37 births/1,000 population (1997 est.)
Death rate: 9.58 deaths/1,000 population (1997 est.)
Net migration rate: 0.37 migrant(s)/1,000 population (1997 est.)
Sex ratio: at birth: 1.05 male(s)/female under 15 years: 1.04 male(s)/female 15-64 years : 0.98 male(s)/female 65 years and over: 0.63 male(s)/female total population: 0.95 male(s)/female (1997 est.)
Infant mortality rate: 10 deaths/1,000 live births (1997 est.)
Life expectancy at birth: total population: 72.91 years male : 69.11 years female: 76.9 years (1997 est.)
Total fertility rate: 1.34 children born/woman (1997 est.)
Nationality: noun: Slovak(s) adjective: Slovak
Ethnic groups: Slovak 85.7%, Hungarian 10.7%, Gypsy 1.5% (the 1992 census figures underreport the Gypsy/Romany community, which could reach 500,000 or more), Czech 1%, Ruthenian 0.3%, Ukrainian 0.3%, German 0.1%, Polish 0.1%, other 0.3%
Religions: Roman Catholic 60.3%, atheist 9.7%, Protestant 8.4%, Orthodox 4.1%, other 17.5%
Languages: Slovak (official), Hungarian
Literacy: NA
@Slovakia:Government
Country name: conventional long form : Slovak Republic conventional short form: Slovakia local long form: Slovenska Republika local short form: Slovensko
Data code: LO
Government type: parliamentary democracy
National capital: Bratislava
Administrative divisions: 4 departments (kraje, singular - kraj) Bratislava, Zapadoslovensky, Stredoslovensky, Vychodoslovensky note: an article in the Slovakian press mentions there are 8 departments named Bratislava, Banska Bystrica, Kosice, Nitra, Presov, Trnava, Trencin, and Zilina
Independence: 1 January 1993 (from Czechoslovakia)
National holiday: Slovak Constitution Day, 1 September (1992); Anniversary of Slovak National Uprising, 29 August (1944)
Constitution: ratified 1 September 1992, fully effective 1 January 1993
Legal system: civil law system based on Austro-Hungarian codes; has not accepted compulsory ICJ jurisdiction; legal code modified to comply with the obligations of Organization on Security and Cooperation in Europe (OSCE) and to expunge Marxist-Leninist legal theory
Suffrage: 18 years of age; universal
Executive branch: chief of state: President Michal KOVAC (since 8 February 1993) head of government : Prime Minister Vladimir MECIAR (since 12 December 1994) cabinet: Cabinet appointed by the president on the recommendation of the prime minister elections: president elected by National Council for a five-year term; election last held 8 February 1993 (next to be held March 1998); following National Council elections, the leader of the majority party or the leader of a majority coalition is usually appointed prime minister by the president election results: Michal KOVAC elected president; percent of parliamentary vote - NA
Legislative branch: unicameral National Council of the Slovak Republic or Narodna Rada Slovensky Repubiky (150 seats; members are elected by popular vote to serve four-year terms) elections: last held 30 September-1 October 1994 (next to be held by October 1998) election results: percent of vote by party - HZDS 35%, SDL 10.4%, Hungarian coalition (Hungarian Christian Democrats, Hungarian Civic Party, Coexistence) 10.2%, KDH 10.1%, DU 8.6%, ZRS 7.3%, SNS 5.4%; seats by party - governing coalition 83 (HZDS 61, ZRS 13, SNS 9), opposition 67 (SDL 18, Hungarian coalition 17, KDH 17, DU 15)
Judicial branch: Supreme Court, judges are elected by the National Parliament
Political parties and leaders: Movement for a Democratic Slovakia or HZDS [Vladimir MECIAR, chairman]; Party of the Democratic Left or SDL [Jozef MIGAS, chairman]; Hungarian Christian Democratic Movement or MKDH [Vojtech BUGAR]; Hungarian Civic Party or MOS [Laszlo A. NAGY, president]; Coexistence [Miklos DURAY, chairman]; Christian Democratic Movement or KDH [Jan CARNOGURSKY, chairman]; Democratic Union or DU [Jozef MORAVCIK, chairman]; Association of Slovak Workers or ZRS [Jan LUPTAK, chairman]; Slovak National Party or SNS [Jan SLOTA, chairman]; Slovak Green Alternative or SZA [Zora LAZAROVA, chairwoman]; Farmers' Party of Slovakia or RSS [Pavel DELINGA, chairman]; Social Democratic Party of Slovakia or SSDS [Jaroslav WOLF, chairman]; Party of Greens in Slovakia or SZS [Jozef POKORNY, chaiman]; Democratic Party or DS [Jan LANGOS, chairman]
Political pressure groups and leaders: Party of Entrepreneurs and Businessmen of Slovakia; Christian Social Union; Confederation of Trade Unions or KOZ; Metal Workers Unions or KOVO and METALURG; Association of Employers of Slovakia; Association of Towns and Villages or ZMOS
International organization participation: Australia Group, BIS, BSEC (observer), CCC, CE (guest), CEI, CERN, EBRD, ECE, EU (applicant), FAO, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFC, IFRCS, ILO, IMF, IMO, Inmarsat, Intelsat, Intelsat (nonsignatory user), IOC, IOM, ISO, ITU, NACC, NSG, OSCE, PCA, PFP, UN, UNAVEM III, UNCTAD, UNESCO, UNIDO, UNTAES, UPU, WEU (associate partner), WFTU, WHO, WIPO, WMO, WToO, WTrO, ZC
Diplomatic representation in the US: chief of mission: Ambassador Branislav LICHARDUS chancery: (temporary) Suite 250, 2201 Wisconsin Avenue NW, Washington, DC 20007 telephone : [1] (202) 965-5160 FAX: [1] (202) 965-5166
Diplomatic representation from the US: chief of mission: Ambassador Ralph R. JOHNSON embassy: Hviezdoslavovo Namestie 4, 81102 Bratislava mailing address : use embassy street address telephone: [42] (7) 533-0861, 533-3338 FAX: [42] (7) 533-5439
Flag description: three equal horizontal bands of white (top), blue, and red superimposed with the Slovak cross in a shield centered on the hoist side; the cross is white centered on a background of red and blue
Economy
Economy - overview: Since the establishment of the Slovak Republic on 1 January 1993, Slovakia has continued the difficult transformation from a centrally controlled economy to a modern market-oriented economy. Macroeconomic performance improved steadily in 1994-96, but privatization progressed only in fits and starts. Strong export performance boosted GDP growth to 4.8% in 1994 after a four-year decline. GDP surged to 7.4% growth in 1995 and should be only slightly less in 1996, the fastest growth in Central and Eastern Europe. Unemployment fell to about 12% in 1996 and inflation dropped from 26% in 1993 to 5.5% in 1996, the lowest in the region. Foreign debt of $4.6 billion also is the lowest in the region and the second lowest per capita. Private activity now makes up roughly two-thirds of GDP. Positive international financial performance has led Standard & Poor's to raise its rating of the National Bank of Slovakia's foreign currency debt to just one step below investment grade. Although Slovak economic performance continues to be impressive, many warning signs of possible danger ahead have been raised. Aggregate demand has surged in the form of increased personal and government consumption. At the same time that the budget deficit is growing, the money supply has been rapidly increasing, which could apply upward pressure on inflation. The trade and current account deficits both are mounting as imports soar and exports sag. Perhaps most troubling, Slovakia continues to have difficulty attracting foreign investment because of perceived political problems and halting progress on restructuring and privatization. The government projects 6.4% growth in 1997 and 5% in 1998. Continuing economic recovery in western Europe should boost exports and production, but Slovakia's image with foreign creditors and investors could suffer setbacks in 1997 if progress on privatization and restructuring stalls.
GDP: purchasing power parity - $42.8 billion (1996 est.)
GDP - real growth rate: 7% (1996 est.)
GDP - per capita: purchasing power parity - $8,000 (1996 est.)
GDP - composition by sector: agriculture: 5.4% industry: 39.9% services: 54.7% (1995 est.)
Inflation rate - consumer price index: 5.5% (1996 est.)
Labor force: total: 2.538 million by occupation : industry 29.3%, agriculture 8.9%, construction 8.0%, transport and communication 8.2%, services 45.6% (1994)
Unemployment rate: 12% (1996 est.)
Budget: revenues: $5.3 billion expenditures : $5.6 billion, including capital expenditures of $NA (1995)
Industries: metal and metal products; food and beverages; electricity, gas, coke, oil, and nuclear fuel; chemicals and manmade fibers; machinery; paper and printing; earthenware and ceramics; transport vehicles; textiles; electrical and optical apparatus; rubber products
Industrial production growth rate: 2.8% (1996 est.)
Electricity - capacity: 7.12 million kW (1994)
Electricity - production: 23.6 billion kWh (1994)
Electricity - consumption per capita: 4,400 kWh (1995 est.)
Agriculture - products: grains, potatoes, sugar beets, hops, fruit; hogs, cattle, poultry; forest products
Exports: total value: $8.1 billion (January-November 1996) commodities : machinery and transport equipment 18.7%; chemicals 13.4%; miscellaneous manufactured goods 13.1%; raw materials 5.0% (1995) partners: EU 37.4%, Central Europe Free Trade Agreement 44.3% (Czech Republic 35.2%), FSU 7.1% (1995)
Imports: total value : $9.6 billion (f.o.b., January-November 1996) commodities: machinery and transport equipment 29.0%; fuels 18.0%; intermediate manufactured goods 17.6%; miscellaneous manufactured goods 8.0% (1995) partners: EU 34.7%, Central Europe Free Trade Agreement 32.9% (Czech Republic 27.5%), FSU 19.5% (1995)
Debt - external: $4.6 billion hard currency indebtedness (1995 est.)
Economic aid: NA
Currency: 1 koruna (Sk) = 100 halierov