Croatia | Economic Forecasts | 2017-2020 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 Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.60 0.5 0.6 0.7 0.6 0.5 percent [+]
Unemployment Rate 13.20 14.7 13.5 12.4 12.2 11.1 percent [+]
Inflation Rate 1.40 2.1 2.6 3 2.8 2.4 percent [+]
Interest Rate 2.50 2.25 2.25 2 2 1.5 percent [+]
Balance of Trade -5017.75 -4482 -4484 -4489 -4487 -4488 HRK Million [+]
Government Debt to GDP 84.20 82.8 82.8 82.8 80.5 75.4 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 6.58 7.01 7.08 7.29 7.22 8.33 [+]
Stock Market 1862.07 2020 2000 1940 1960 1630 points [+]
Government Bond 10Y 3.03 3.07 3.1 3.13 3.16 3.65 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.60 0.5 0.6 0.7 0.6 0.5 percent [+]
GDP Annual Growth Rate 3.40 2.6 2.3 2.2 2.3 2.6 percent [+]
GDP 48.73 54.14 47.43 56.69 44.95 66.64 USD Billion [+]
GDP Constant Prices 82959.00 78270 78007 78062 78051 78053 HRK Million [+]
Gross Fixed Capital Formation 16983.00 18721 18351 17477 16663 17985 HRK Million [+]
GDP per capita 13875.70 13768 13855 13941 13938 14108 USD [+]
GDP per capita PPP 20663.93 20504 20633 20761 20757 21009 USD [+]
GDP From Agriculture 3190.00 2846 2845 2845 2845 2845 HRK Million [+]
GDP From Construction 3615.00 3719 3707 3733 3616 3876 HRK Million [+]
GDP From Manufacturing 11074.00 10918 10676 11235 10514 11180 HRK Million [+]
GDP From Public Administration 11060.00 11221 11166 11120 11179 11192 HRK Million [+]
GDP From Services 13420.00 14720 14730 14731 14731 14731 HRK Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 13.20 14.7 13.5 12.4 12.2 11.1 percent [+]
Employed Persons 1579.00 1613 1613 1579 1584 1592 Thousand [+]
Unemployed Persons 204316.00 177681 186245 212202 208425 200385 [+]
Long Term Unemployment Rate 6.60 5.51 5.44 5.88 5.68 5.46 percent [+]
Youth Unemployment Rate 27.10 25.76 24.66 23.73 22.97 19.66 percent [+]
Productivity 101.40 102 102 102 102 102 Index Points [+]
Labour Costs 88.70 93.95 83.46 87.33 95.04 86.21 Index Points [+]
Job Vacancies 8676.00 11050 11050 11050 11050 11050 [+]
Wages 6022.00 5996 5991 5992 5992 5992 HRK/Month [+]
Wages in Manufacturing 5454.00 5274 5279 5297 5297 5300 HRK/Month [+]
Minimum Wages 433.35 410 434 414 438 423 EUR/Month [+]
Population 4.19 4.2 4.19 4.18 4.18 4.16 Million [+]
Retirement Age Women 61.90 61.9 61.9 61.9 62.15 62.54 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change -0.10 -0.1 -0.09 0 -0.01 -0.04 percent [+]
Employment Rate 56.80 58.21 58.62 57.36 57.32 58.08 percent [+]
Full Time Employment 1481.40 1494 1506 1485 1476 1488 Thousand [+]
Labor Force Participation Rate 51.30 51.37 51.27 51.26 51.27 51.28 percent [+]
Part Time Employment 76.40 90.27 85.24 80.06 85.44 84.71 Thousand [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.40 2.1 2.6 3 2.8 2.4 percent [+]
Inflation Rate Mom 0.50 0.4 0.08 0.5 0.06 0.5 percent [+]
Consumer Price Index CPI 100.30 100 100 100 101 102 Index Points [+]
Core Consumer Prices 101.50 101 101 102 102 103 Index Points [+]
Core Inflation Rate 1.20 1.14 1.23 1.27 1.3 1.32 percent [+]
Producer Prices 103.30 105 106 108 110 134 Index Points [+]
Food Inflation 3.50 3.94 4.24 4.39 4.46 4.53 percent [+]
Cpi Transportation 99.00 98.03 98.8 98.65 98.63 98.7 Index Points [+]
Harmonised Consumer Prices 100.60 101 101 102 102 105 Index Points [+]
Producer Prices Change 3.30 1.8 2.5 3.2 3 2.2 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 2.50 2.25 2.25 2 2 1.5 percent [+]
Interbank Rate 0.37 0.35 0.34 0.35 0.35 0.35 percent [+]
Money Supply M0 22344.70 22478 22395 22379 22394 22393 HRK Million [+]
Money Supply M1 81844.70 82449 82363 82385 82382 82383 HRK Million [+]
Foreign Exchange Reserves 16071.91 15655 15771 15776 15776 15775 EUR Million [+]
Banks Balance Sheet 388499.03 390077 392353 394527 396685 419112 HRK Million [+]
Loans to Private Sector 30718.40 30025 29408 28856 28362 25400 HRK Million [+]
Deposit Interest Rate 0.00 0 0 0 0 0 percent [+]
Cash Reserve Ratio 12.00 11.86 11.83 11.81 11.79 11.63 percent [+]
Central Bank Balance Sheet 122309.23 118105 119845 120852 121875 133203 HRK Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -5017.75 -4482 -4484 -4489 -4487 -4488 HRK Million [+]
Exports 9253.08 8465 8564 8555 8561 8560 HRK Million [+]
Imports 14270.83 12965 13172 13048 13096 13087 HRK Million [+]
Current Account -696.50 66.22 78.84 77.32 77.5 77.48 EUR Million [+]
Current Account to GDP 4.20 3.9 2.44 2.9 2.95 2.96 percent [+]
External Debt 45124.78 44645 44669 44673 44673 44673 EUR Million [+]
Capital Flows -162.90 749 2095 -64.11 -818 126 EUR Million [+]
Remittances 569.50 584 533 580 552 620 EUR Million [+]
Tourist Arrivals 231987.00 1172269 1037205 818032 919390 920939 [+]
Gold Reserves 13.13 13.13 13.13 13.13 13.13 13.13 Tonnes [+]
Crude Oil Production 13.00 13.19 13.2 13.2 13.2 13.2 BBL/D/1K [+]
Foreign Direct Investment 346.70 273 272 296 296 292 EUR Million [+]
Terrorism Index 0.06 0.46 0.43 0.4 0.42 0.28 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 84.20 82.8 82.8 82.8 80.5 75.4 percent [+]
Government Budget -0.80 -0.4 -0.4 -0.4 -0.2 0.4 percent of GDP [+]
Government Budget Value -1572.30 -602 -646 -672 -676 -677 HRK Million [+]
Government Spending 16883.00 16865 16198 16871 16186 16840 HRK Million [+]
Government Spending to GDP 48.40 48.1 47.58 47.05 47.24 48.4 percent [+]
Government Revenues 8337.90 9032 9108 9114 9115 9115 HRK Million [+]
Government Debt 286348.70 287050 286920 286789 286662 285537 HRK Million [+]
Fiscal Expenditure 9933.50 9879 9842 9863 9866 9868 HRK Million [+]
Asylum Applications 175.00 270 449 345 472 531 persons [+]
Military Expenditure 904.40 913 917 921 930 1086 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Industrial Production 0.00 4.8 2.68 3.9 3.54 1.8 percent [+]
Industrial Production Mom 1.50 -0.64 -0.12 0.21 0.36 0.25 percent [+]
Manufacturing Production 3.10 5.2 3.54 4.19 4.18 4.19 percent [+]
Changes in Inventories 1028.80 595 595 595 595 595 HRK Million [+]
Car Registrations 6213.00 4031 2167 2872 3086 2927 Cars [+]
Business Confidence 10.40 4.3 13.08 -2 13.51 -5 [+]
Competitiveness Index 4.15 4.13 4.13 4.13 4.12 4.14 Points [+]
Competitiveness Rank 74.00 70 70 70 80 78 [+]
Ease of Doing Business 43.00 49 49 50 40 7 [+]
Electricity Production 1105.00 1020 1032 1063 1067 1059 Gigawatt-hour [+]
Corruption Index 49.00 51 50 49 50 54 Points [+]
Corruption Rank 55.00 53 56 58 57 56 [+]
Steel Production 0.00 1.69 3.07 4.01 4.64 5.93 Thousand Tonnes [+]
Mining Production -1.50 -4.35 -5.12 -5.25 -5.07 -5.03 percent [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Retail Sales MoM 0.80 0.3 0.7 1.2 0.64 1.1 percent [+]
Retail Sales YoY 5.80 3 5.46 2.4 5.49 1.5 percent [+]
Consumer Spending 49841.00 49101 46129 49358 46347 49271 HRK Million [+]
Personal Savings 8.95 14.41 17.51 9.31 14.79 10.25 percent [+]
Consumer Credit 51226.00 51308 51325 51326 51326 51326 HRK Million [+]
Bank Lending Rate 4.37 4.38 4.41 4.41 4.41 4.41 percent [+]
Consumer Confidence -21.40 -19.8 -19.79 -16.4 -20.06 -13.9 [+]
Gasoline Prices 1.38 1.39 1.39 1.39 1.39 1.39 USD/Liter [+]
Households Debt To Income 57.06 56.57 55.97 55.36 55.09 54.47 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Home Ownership Rate 90.50 88.51 87.52 86.53 88.16 87.66 percent [+]
Housing Index 91.20 91.49 91.42 91.6 91.43 91.56 Index Points [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 18.00 20 20 20 18 18 percent [+]
Personal Income Tax Rate 47.20 47.16 47.16 47.16 47.15 47.08 percent [+]
Sales Tax Rate 25.00 25 25 25 25 25 percent [+]
Social Security Rate 37.20 36.2 35.7 35.2 35.2 37.2 percent [+]
Social Security Rate For Companies 17.20 16.2 15.7 15.2 15.2 17.2 percent [+]
Social Security Rate For Employees 20.00 20 20 20 20 20 percent [+]