Croatia’s GDP shrank 0.7 percent year-on-year in the first quarter of 2021, following an upwardly revised 7.2 percent decline in the previous period, partly due to the partial coronavirus lockdown in the period. Still, it was the smallest economic contraction since the onset of the pandemic crisis in 2020. Household spending decreased less (-0.4 percent vs -4.5 percent in Q4) while fixed investment picked up (4.6 percent vs 4.2 percent). In addition, net trade contributed positively to the GDP as exports fell 0.9 percent (vs -9.8 percent in Q4) and imports declined at a faster 2.1 percent (vs -7.6 percent in Q4). Meanwhile, government spending slowed down (0.2 percent vs 3.1 percent). On a seasonally adjusted quarterly basis, the economy advanced 5.8 percent, following a 4.1 percent growth in the previous period. For this year the government expects growth of 5.2 percent, after an 8.4 percent contraction in 2020 due to the COVID-19 pandemic. source: Croatian Bureau of Statistics
GDP Annual Growth Rate in Croatia averaged 1.82 percent from 1996 until 2021, reaching an all time high of 7.20 percent in the second quarter of 1997 and a record low of -14.40 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 July of 2021.
GDP Annual Growth Rate in Croatia is expected to be 12.40 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 3.30 in 12 months time. In the long-term, the Croatia GDP Annual Growth Rate is projected to trend around 4.00 percent in 2022 and 2.00 percent in 2023, according to our econometric models.