Croatia - Economic Forecasts - 2018-2020 Outlook

This page has economic forecasts for Croatia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Croatia economy.


Overview Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.10 0.6 0.6 0.6 0.8 0.5 percent
Unemployment Rate 8.60 8.4 8.7 8.6 8.5 8.3 percent
Inflation Rate 2.10 2.3 2.7 2.9 3.1 2 percent
Interest Rate 2.50 2.5 3 3 3 3.5 percent
Balance of Trade -6151.12 -5750 -3860 -5770 -5450 -4110 HRK Million
Government Debt to GDP 78.00 80.5 80.5 78.6 78.6 75.4 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 6.31
6.41 6.45 6.49 6.53 6.69
Stock Market 1804.74
points
1807 1794 1782 1769 1720
Government Bond 10Y 2.16
percent
2.32 2.37 2.41 2.45 2.64
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 1.10
percent
0.6 0.6 0.6 0.8 0.5
GDP Annual Growth Rate 2.90
percent
2.7 2.9 2.9 2.9 2.6
GDP 54.85
USD Billion
56 56 57 57 58
GDP Constant Prices 89781.00
HRK Million
97679 88888 81901 92385 93662
Gross Fixed Capital Formation 20365.00
HRK Million
19623 18633 18189 20956 19634
GDP per capita 15219.88
USD
16200 16200 16900 16900 17800
GDP per capita PPP 22669.80
USD
23500 23500 23750 23750 24000
GDP From Agriculture 2315.00
HRK Million
2648 3021 1992 2382 3183
GDP From Construction 3988.00
HRK Million
3798 3894 3793 4104 4103
GDP From Manufacturing 11106.00
HRK Million
10959 11579 10430 11428 12201
GDP From Public Administration 11730.00
HRK Million
11627 11751 11877 12070 12382
GDP From Services 16705.00
HRK Million
21652 14368 12505 17189 15140
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 8.60
percent
8.4 8.7 8.6 8.5 8.3
Employed Persons 1616.00
Thousand
1674 1642 1635 1661 1648
Unemployed Persons 136204.00
149206 170456 164547 152376 158985
Long Term Unemployment Rate 4.00
percent
3.02 2.97 3.09 2.91 2.45
Youth Unemployment Rate 22.70
percent
21.35 20.52 19.84 19.28 17.07
Labour Costs 94.70
Index Points
91.84 91.77 91.76 91.76 91.76
Productivity 101.40
Index Points
101 101 101 101 101
Wages 6276.00
HRK/Month
6150 6170 6320 6288 6600
Wages in Manufacturing 5793.00
HRK/Month
5700 5650 6000 5733 6500
Minimum Wages 465.72
EUR/Month
466 466 495 495 525
Population 4.11
Million
4.11 4.11 4.08 4.08 4.05
Retirement Age Women 62.00
62 62 62.25 62 62.5
Retirement Age Men 65.00
65 65 65 65 65
Part Time Employment 79.80
Thousand
84.4 81.41 81.31 81.21 81.16
Labor Force Participation Rate 51.00
percent
51.67 51.5 51.2 51.39 51.39
Full Time Employment 1513.10
Thousand
1573 1542 1532 1562 1549
Employment Change 1.00
percent
0.92 0.98 1.04 0.97 0.99
Employment Rate 59.00
percent
62.33 61.02 60.71 62.36 62.69
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 2.10
percent
2.3 2.7 2.9 3.1 2
Inflation Rate Mom 0.00
percent
0.24 0.7 0.08 0.09 0.5
Consumer Price Index CPI 101.10
Index Points
103 103 104 105 108
Core Consumer Prices 101.00
Index Points
102 102 102 103 103
Core Inflation Rate 0.50
percent
0.6 0.6 0.6 0.5 0.5
Producer Prices 100.70
Index Points
102 103 101 102 107
Producer Prices Change 3.60
percent
3.8 3.6 2.5 2.4 1.9
Harmonised Consumer Prices 103.16
Index Points
104 104 104 106 108
Food Inflation 1.10
percent
1.17 1.22 1.18 1.16 1.15
Cpi Housing Utilities 97.20
Index Points
97.42 97.58 97.74 97.89 99.3
CPI Transportation 104.20
Index Points
101 103 102 108 108
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 2.50
percent
2.5 3 3 3 3.5
Interbank Rate 0.26
percent
0.26 0.76 0.76 0.76 1.26
Money Supply M0 29296.90
HRK Million
29331 28071 27909 28156 28134
Money Supply M1 112130.80
HRK Million
113576 117265 120913 124525 158393
Foreign Exchange Reserves 16434.40
EUR Million
16464 16430 16442 16442 16442
Banks Balance Sheet 404559.30
HRK Million
407441 409943 412511 415052 439487
Loans to Private Sector 29221.00
HRK Million
29041 28770 28533 28322 27150
Deposit Interest Rate 0.00
percent
0 0.5 0.5 0.5 1
Cash Reserve Ratio 12.00
percent
11.99 11.99 11.99 11.98 11.96
Central Bank Balance Sheet 125909.30
HRK Million
125568 125488 125525 125522 125522
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -6151.12
HRK Million
-5750 -3860 -5770 -5450 -4110
Exports 9157.53
HRK Million
9150 8940 9950 9050 9590
Imports 15308.65
HRK Million
14900 12800 15720 14500 13700
Current Account -1901.90
EUR Million
-54.04 -34.29 -36.23 -36.04 -36.05
Current Account to GDP 3.90
percent
3.4 3.2 3 3 2.8
External Debt 47292.64
EUR Million
48213 48075 48016 47997 47993
Capital Flows -1154.30
EUR Million
2429 -379 -1054 1048 -322
Remittances 617.40
EUR Million
651 718 681 732 820
Tourist Arrivals 4067804.00
1243400 869400 1152200 1196100 1119800
Terrorism Index 0.03
0.22 0.18 0.2 0.23 0.16
Foreign Direct Investment 468.20
EUR Million
446 423 420 414 406
Crude Oil Production 14.00
BBL/D/1K
13.9 13.91 13.91 13.91 13.91
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 78.00
percent
80.5 80.5 78.6 78.6 75.4
Government Budget 0.80
percent of GDP
-0.2 -0.2 -0.46 -0.93 0.4
Government Budget Value 1112.00
HRK Million
-444 -453 -441 -451 -450
Government Spending 18169.00
HRK Million
17335 18322 17261 18696 19306
Government Spending to GDP 45.30
percent
46.17 46.01 46.24 46.47 48.57
Government Revenues 9649.80
HRK Million
9824 9897 9915 9919 9920
Government Debt 279299.10
HRK Million
278225 277455 276704 275980 270001
Fiscal Expenditure 10705.70
HRK Million
10268 10353 10356 10370 10370
Military Expenditure 745.05
USD Million
754 771 782 794 891
Asylum Applications 65.00
persons
92.16 105 96.26 101 99.7
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Industrial Production -0.90
percent
-0.24 3.2 -0.18 -0.04 1.8
Industrial Production Mom -4.90
percent
-0.31 -0.75 -0.18 0.16 0.13
Manufacturing Production -1.00
percent
-0.57 -0.2 -0.42 -0.31 -0.32
Changes in Inventories 3140.05
HRK Million
831 1016 1002 1003 1003
Car Registrations 8582.00
4722 4619 5594 5293 5253
Internet Speed 8591.78
KBps
10619 10951 11277 11598 14393
IP Addresses 1286714.00
IP
1219662 1211598 1203578 1194952 1125002
Steel Production 10.00
Thousand Tonnes
0 2.5 9.76 9.77 0
Mining Production -10.30
percent
-9.45 -9.76 -9.72 -9.65 -9.65
Business Confidence 8.10
Index Points
9.8 10.2 11.5 11.8 11
Competitiveness Index 4.19
Points
4.14 4.14 4.11 4.1 4.11
Competitiveness Rank 74.00
73 73 74 74 73
Ease of Doing Business 51.00
49 51 51 51 51
Electricity Production 952.00
Gigawatt-hour
1028 1050 1059 1062 1064
Corruption Index 49.00
Points
48 48 48 48 49
Corruption Rank 57.00
56 55 55 56 56
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Retail Sales MoM 0.20
percent
-0.4 0.9 0.46 0.32 1.1
Retail Sales YoY 2.20
percent
3.3 3.6 4 4.2 3.2
Consumer Spending 50747.00
HRK Million
47579 52942 48904 52219 55785
Consumer Credit 62189.10
HRK Million
62306 62466 62605 62724 63303
Bank Lending Rate 3.45
percent
3.45 3.95 3.95 3.95 4.45
Households Debt To Income 57.06
percent
55.97 55.36 55.09 54.82 55.31
Gasoline Prices 1.63
USD/Liter
1.66 1.57 1.48 1.4 1.11
Consumer Confidence -9.00
Index Points
-10.2 -8.8 -13 -13.8 -17
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Home Ownership Rate 90.00
percent
89.43 89.44 89.66 89.88 90.15
Housing Index 109.44
Index Points
112 113 114 115 117
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Corporate Tax Rate 18.00
percent
18 18 18 18 18
Personal Income Tax Rate 36.00
percent
36 36 36 36 36
Sales Tax Rate 25.00
percent
25 25 25 25 25
Social Security Rate 37.20
percent
37.2 37.2 37 37 37
Social Security Rate For Companies 17.20
percent
17.2 17.2 17.2 17.2 17.2
Social Security Rate For Employees 20.00
percent
20 20 20 20 20
CLIMATE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature 23.56
celsius
20.01 6.85 3.08 16.55 11.62