Slovak Republic is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the west, and the Czech Republic to the northwest. Slovakia’s mostly mountainous territory spans about 49,000 square kilometers (19,000 sq mi), with a population of over 5.4 million. The capital and largest city is Bratislava.
In 2020, Slovakia was ranked by the International Monetary Fund as the 38th richest country in the world (out of 187 countries), with purchasing power parity per capita GDP of $38,321. The country used to be dubbed the “Tatra Tiger”. Slovakia successfully transformed from a centrally planned economy to a market-driven economy. Major privatizations are completed, the banking sector is almost completely in private hands, and foreign investment has risen. Slovakia is part of the Schengen Area, the EU single market, and since 2009, the Eurozone. The Slovak economy is one of the fastest-growing economies in Europe and 3rd-fastest in eurozone (2017).