Croatia’s gross domestic product advanced by 5.2% year-on-year in the third quarter of 2022, following an upwardly revised 8.7% growth in the previous three-month period. This marks the weakest expansion since the first quarter of 2021, amid a slowdown in household consumption (5.6% vs 7.8% in Q2). Additionally, the contribution of net external was slightly negative, as imports jumped 30.5% (vs 26.5% in Q2) whereas exports advanced at a slower 23.3% (vs 40.3% in Q2). On the other hand, fixed investment picked up (8% vs 3.9%) and government spending rebounded (1.3% vs -2.2%). On a seasonally adjusted quarterly basis, Croatia’s GDP shrank by 0.4% in the third quarter, the first contraction since the second quarter of 2020, after a downwardly revised 1.5% rise in the prior quarter. source: Croatian Bureau of Statistics

GDP Annual Growth Rate in Croatia averaged 2.46 percent from 1996 until 2022, reaching an all time high of 20.80 percent in the second quarter of 2021 and a record low of -15.70 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 February of 2023.

GDP Annual Growth Rate in Croatia is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Croatia GDP Annual Growth Rate is projected to trend around 1.30 percent in 2024 and 1.60 percent in 2025, according to our econometric models.

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Croatia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-26 09:00 AM Q2 7.7% 7% 6.7%
2022-11-25 10:00 AM Q3 5.2% 8.7% 7.5%
2023-02-24 10:00 AM Q4 5.2% 2.6%


Related Last Previous Unit Reference
GDP Growth Rate -0.40 1.50 percent Sep 2022
GDP Annual Growth Rate 5.20 8.70 percent Sep 2022
GDP Constant Prices 119594.00 109393.00 HRK Million Sep 2022
Gross Fixed Capital Formation 20803.00 21270.00 HRK Million Sep 2022
GDP from Services 28966.00 24193.00 HRK Million Sep 2022
GDP from Public Administration 15442.00 15480.00 HRK Million Sep 2022
GDP from Manufacturing 12740.00 13576.00 HRK Million Sep 2022
GDP from Construction 5025.00 5259.00 HRK Million Sep 2022
GDP from Agriculture 3735.00 2892.00 HRK Million Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
5.20 8.70 20.80 -15.70 1996 - 2022 percent Quarterly
NSA

News Stream
Croatia Economy Loses Steam In Q3
Croatia’s gross domestic product advanced by 5.2% year-on-year in the third quarter of 2022, following an upwardly revised 8.7% growth in the previous three-month period. This marks the weakest expansion since the first quarter of 2021, amid a slowdown in household consumption (5.6% vs 7.8% in Q2). Additionally, the contribution of net external was slightly negative, as imports jumped 30.5% (vs 26.5% in Q2) whereas exports advanced at a slower 23.3% (vs 40.3% in Q2). On the other hand, fixed investment picked up (8% vs 3.9%) and government spending rebounded (1.3% vs -2.2%). On a seasonally adjusted quarterly basis, Croatia’s GDP shrank by 0.4% in the third quarter, the first contraction since the second quarter of 2020, after a downwardly revised 1.5% rise in the prior quarter.
2022-11-25
Croatia Economy Expands Faster in Q2
Croatia’s gross domestic product advanced by 7.7 percent year-on-year in the second quarter of 2022, faster than a 7% expansion in the previous period. It was the fifth consecutive quarter of growth following a pandemic-induced recession, supported by robust household consumption (7.7 percent vs 6.3 percent in Q1) and fixed investment (5 percent vs 7.9 percent). Additionally, net external demand contributed positively to the GDP, as exports jumped 41.9 percent (vs 29.4 percent in Q1) whereas imports advanced at a slower 28.6 percent (vs 25 percent in Q1). Meanwhile, government spending declined (-2.2 percent vs 5.9 percent). On a seasonally adjusted quarterly basis, Croatia’s GDP increased 2 percent, after a 2.8 percent growth in the previous quarter.
2022-08-26
Croatia GDP Growth Continues to Slow
Croatia’s gross domestic product advanced by 7 percent year-on-year in the first quarter of 2022, following a 9.7 percent expansion in the previous period. It was the fourth consecutive quarter of growth following a pandemic-induced recession. Both household consumption (6.3 percent vs 7.7 percent in Q4) and government spending (5.9 percent vs 14.4 percent) slowed while fixed investment picked up (7.9 percent vs 0.8 percent). Meanwhile, net external demand contributed positively to the GDP as exports jumped 29.4 percent (vs 31.7 percent in Q4) while imports grew at a softer 25 percent (vs 16.4 percent in Q4). Croatia's government expects the country's real GDP to grow by 3 percent in 2022.
2022-05-27