Croatia’s GDP expanded 2.9 percent year-on-year in the third quarter of 2019, accelerating from a 2.4 percent advance in the previous period. Household consumption rose faster (3.3 percent vs 2.7 percent in Q2) while gross fixed capital formation (5.0 percent vs 8.2 percent) and government expenditure (2.9 percent vs 3.9 percent) slowed. Also, net foreign demand contributed positively to growth, as exports climbed 4.7 percent (vs 3.3 percent in Q2) and imports went up at a softer 1.1 percent (vs 8.3 percent in Q2). On a seasonally adjusted quarterly basis, the GDP grew 0.8 percent, above a 0.5 percent gain in Q2.

GDP Annual Growth Rate in Croatia averaged 1.93 percent from 1998 until 2019, reaching an all time high of 6.60 percent in the second quarter of 2003 and a record low of -8.60 percent in the first quarter of 2009. This page provides - Croatia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Annual Growth Rate in Croatia is expected to be 2.20 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 3.00 in 12 months time. In the long-term, the Croatia GDP Annual Growth Rate is projected to trend around 2.00 percent in 2021, according to our econometric models.


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Croatia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.90 2.40 6.60 -8.60 1998 - 2019 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-05-29 09:00 AM YoY Prel Q1 3.9% 2.3% 2.5%
2019-05-31 09:00 AM YoY Final Q1 3.9% 2.3% 2.5%
2019-08-28 09:00 AM YoY Q2 2.4% 3.9% 3%
2019-11-27 10:15 AM YoY Q3 2.9% 2.4% 2.2%
2020-02-26 10:00 AM YoY Q4 2.9% 2.7%
2020-05-29 09:00 AM YoY Q1 2.2%
2020-08-28 09:00 AM YoY Q2 2.5%
2020-11-27 10:15 AM YoY Q3 2.7%


News Stream
Croatia GDP Growth Picks Up to 2.9% YoY in Q3
Croatia’s GDP expanded 2.9 percent year-on-year in the third quarter of 2019, accelerating from a 2.4 percent advance in the previous period. Household consumption rose faster (3.3 percent vs 2.7 percent in Q2) while gross fixed capital formation (5.0 percent vs 8.2 percent) and government expenditure (2.9 percent vs 3.9 percent) slowed. Also, net foreign demand contributed positively to growth, as exports climbed 4.7 percent (vs 3.3 percent in Q2) and imports went up at a softer 1.1 percent (vs 8.3 percent in Q2). On a seasonally adjusted quarterly basis, the GDP grew 0.8 percent, above a 0.5 percent gain in Q2.
2019-11-27
Croatia GDP Growth Slows to 2.4% YoY in Q2
Croatia’s gross domestic product grew 2.4 percent year-on-year in the second quarter of 2019, easing from a 3.9 percent expansion in the previous period. Household consumption (2.7 percent from 4.4 percent in Q1) and gross fixed capital formation (8.2 percent from 1.5 percent) slowed while government expenditure advanced faster (3.9 percent from 3.1 percent). Also, net foreign demand contributed negatively to GDP growth, as exports rose 1.3 percent (from 4.6 percent in Q1) and imports jumped at a faster 6.7 percent (from 7.7 percent in Q1). On a seasonally adjusted quarterly basis, the GDP expanded 0.2 percent, much softer than a downwardly revised 1.5 percent growth in the first quarter.
2019-08-28
Croatia Q1 GDP Growth Confirmed at Over 2-Year High
Croatia’s gross domestic product grew 3.9 percent year-on-year in the first quarter of 2019, unrevised from a preliminary estimate and following a 2.3 percent expansion in the previous period, final figures showed. It was the strongest growth rate since the last quarter of 2016, driven by private consumption (4.3 percent vs 3.9 percent in Q4) and government spending (3.1 percent vs 2.3 percent). Also, gross fixed capital formation jumped (11.5 percent vs 6.1 percent). The contribution of net foreign demand was negative, as exports went up 4.6 percent (vs 1.3 percent in Q4) while imports rose at a faster 7.7 percent (vs 6.6 percent in Q4). On a seasonally adjusted quarterly basis, the GDP expanded 1.8 percent in the first quarter of 2019, after an upwardly revised 0.2 percent growth in the prior period.
2019-05-31
Croatia Q1 GDP Growth at Over 2-Year High
Croatia’s gross domestic product advanced 3.9 percent year-on-year in the first quarter of 2019, following a 2.3 percent expansion in the previous period, a preliminary estimate showed. It was the strongest growth rate since the last quarter of 2016, mainly driven by private consumption (4.4 percent vs 3.9 percent in Q4) and government spending (3.1 percent vs 2.3 percent). Also, gross fixed capital formation increased further (11.5 percent vs 6.1 percent). The contribution of net foreign demand was negative, as exports went up 4.6 percent (vs 1.3 percent in Q4) while imports advanced at a faster 7.7 percent (vs 6.6 percent in Q4). On a seasonally adjusted quarterly basis, the GDP expanded 1.8 percent in the first quarter of 2019, after an upwardly revised 0.2 percent growth in the prior period.
2019-05-29

Croatia GDP Annual Growth Rate
Croatia joined the European Union in 2013, following a decade-long application process. Croatia's main industries are tourism, ICT, automotive, food, pharmaceutical, logistics, metal and textile. On the expenditure side, household consumption is the main component of GDP and accounts for 60 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (19 percent). Exports of goods and services account for 46 percent of GDP while imports account for 44 percent, adding 2 percent of total GDP.