Croatia’s GDP shrank by 10 percent year-on-year in the third quarter of 2020, following an upwardly revised record 15.4 percent contraction in the previous period, amid the gradual easing of coronavirus lockdown restrictions. Household spending went down 7.5 percent, less than a 14 percent plunge in the second quarter of the year; and fixed capital formation fell 3 percent, softer than a 14.7 percent plunge. Additionally, government expenditure grew 1.5 percent, more than a 0.5 percent expansion in the prior quarter. Net trade contributed negatively to the GDP as exports slumped 32.3 percent (vs -40.7 percent in Q2) and imports declined at a slower 14.1 percent (vs -27.5 percent in Q2). On a seasonally adjusted quarterly basis, the economy grew 6.9 percent, the most since series began, recovering from a record upwardly revised 15 percent contraction in the previous period. source: Croatian Bureau of Statistics
GDP Annual Growth Rate in Croatia averaged 1.92 percent from 1996 until 2020, reaching an all time high of 7.20 percent in the second quarter of 1997 and a record low of -15.40 percent in the second quarter of 2020. This page provides - Croatia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Croatia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Annual Growth Rate in Croatia is expected to be -8.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Croatia to stand at 11.80 in 12 months time. In the long-term, the Croatia GDP Annual Growth Rate is projected to trend around 9.80 percent in 2021 and 2.00 percent in 2022, according to our econometric models.