Slovak euro coins
Slovakia has been a member of the European Union since May 2004, and is a member of the European Economic and Monetary Union. Slovakia adopted the euro on 1 January 2009, replacing its previous currency, the Slovak koruna.
Slovakia
In 2017, Slovakia was ranked by the International Monetary Fund as the 39th richest country in the world (out of 187 countries), with purchasing power parity per capita GDP of $32,895. The country used to be dubbed the "Tatra Tiger". Slovakia successfully transformed from a centrally planned economy to a market-driven economy. Major privatisations are completed, the banking sector is almost completely in private hands, and foreign investment has risen.
The Slovak economy is one of the fastest growing economies in Europe and 3rd fastest in eurozone (2017). In 2007, 2008 and 2010 (with GDP growth of 10.5%, 6% and 4% retrospectively). In 2016, more than 86% of Slovak exports went to European Union, and more than 50% of Slovak imports came from other European Union member states.