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 Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.10 0.6 0.6 0.7 0.8 0.5 percent
Unemployment Rate 8.40 8.7 8.6 8.5 8.6 8.3 percent
Inflation Rate 1.60 2.4 2.9 3.1 2.8 2 percent
Interest Rate 2.50 3 3 3 3 3.5 percent
Balance of Trade -5132.79 -3860 -5770 -5450 -5549 -4110 HRK Million
Government Debt to GDP 78.00 80.5 78.6 78.6 78.6 75.4 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 6.58
6.48 6.52 6.56 6.6 6.76
Stock Market 1756.44
points
1770 1758 1746 1735 1690
Government Bond 10Y 2.15
percent
2.2 2.24 2.28 2.32 2.5
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 1.10
percent
0.6 0.6 0.7 0.8 0.5
GDP Annual Growth Rate 2.90
percent
2.9 2.9 2.9 2.9 2.6
GDP 54.85
USD Billion
56 57 57 57 58
GDP Constant Prices 89781.00
HRK Million
88888 81901 92385 100512 93662
Gross Fixed Capital Formation 20365.00
HRK Million
18633 18189 20956 20192 19634
GDP per capita 15219.88
USD
16200 16900 16900 16900 17800
GDP per capita PPP 22669.80
USD
23500 23750 23750 23750 24000
GDP From Agriculture 2315.00
HRK Million
3021 1992 2382 2725 3183
GDP From Construction 3988.00
HRK Million
3894 3793 4104 3908 4103
GDP From Manufacturing 11106.00
HRK Million
11579 10430 11428 11277 12201
GDP From Public Administration 11730.00
HRK Million
11751 11877 12070 11964 12382
GDP From Services 16705.00
HRK Million
14368 12505 17189 22280 15140
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 8.40
percent
8.7 8.6 8.5 8.6 8.3
Employed Persons 1671.00
Thousand
1649 1642 1674 1675 1657
Unemployed Persons 130577.00
134632 140382 138679 135545 137104
Long Term Unemployment Rate 3.40
percent
2.78 2.86 2.6 2.34 2.04
Youth Unemployment Rate 23.00
percent
22.26 21.65 21.15 20.74 19.19
Labour Costs 94.70
Index Points
92.54 92.5 92.5 92.5 92.5
Productivity 100.70
Index Points
101 101 101 101 101
Wages 6264.00
HRK/Month
6170 6320 6248 6248 6600
Minimum Wages 465.72
EUR/Month
466 495 495 495 525
Wages in Manufacturing 5739.00
HRK/Month
5650 6000 5753 5753 6500
Population 4.11
Million
4.11 4.08 4.08 4.08 4.05
Retirement Age Women 62.00
62 62.25 62 62 62.5
Retirement Age Men 65.00
65 65 65 65 65
Wages High Skilled 7340.00
HRK/Month
8213 8312 8362 8411 8263
Part Time Employment 74.60
Thousand
79.64 78.8 76.84 79.95 77.92
Living Wage Family 10500.00
HRK/Month
9856 10021 10103 10185 9924
Living Wage Individual 7020.00
HRK/Month
6474 6614 6685 6755 6528
Wages Low Skilled 3740.00
HRK/Month
4141 4150 4154 4159 4145
Labor Force Participation Rate 51.20
percent
51.38 51.08 51.22 51.35 51.24
Full Time Employment 1569.60
Thousand
1550 1539 1574 1582 1560
Employment Change 0.10
percent
0.33 0.21 0.27 0.3 0.13
Employment Rate 61.10
percent
60.96 60.62 62.2 62.81 62.53
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.60
percent
2.4 2.9 3.1 2.8 2
Inflation Rate Mom 0.60
percent
0.7 0.1 0.3 0.4 0.5
Consumer Price Index CPI 102.50
Index Points
103 104 105 105 108
Core Consumer Prices 100.60
Index Points
102 102 103 101 103
Core Inflation Rate 0.50
percent
0.6 0.6 0.5 0.5 0.5
Producer Prices 101.10
Index Points
103 101 102 103 107
Producer Prices Change 3.40
percent
3.6 2.5 2.4 2.3 1.9
Harmonised Consumer Prices 103.12
Index Points
103 104 106 106 108
Food Inflation 0.50
percent
1.2 1.3 1.5 1.4 1.3
Cpi Housing Utilities 98.20
Index Points
98.4 98.65 98.87 99.1 101
CPI Transportation 105.30
Index Points
103 102 108 108 107
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 2.50
percent
3 3 3 3 3.5
Interbank Rate 0.25
percent
0.75 0.75 0.75 0.75 1.25
Money Supply M0 29077.50
HRK Million
27772 27713 27968 27966 27927
Money Supply M1 115502.20
HRK Million
119097 123106 126980 130827 163537
Foreign Exchange Reserves 16637.17
EUR Million
16542 16573 16572 16573 16572
Banks Balance Sheet 418769.10
HRK Million
426047 429531 433121 436693 468341
Loans to Private Sector 28378.90
HRK Million
28060 27774 27518 27291 26084
Deposit Interest Rate 0.00
percent
0.5 0.5 0.5 0.5 1
Cash Reserve Ratio 12.00
percent
11.99 11.99 11.99 11.98 11.97
Central Bank Balance Sheet 124719.50
HRK Million
124961 124978 124982 124981 124981
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -5132.79
HRK Million
-3860 -5770 -5450 -5549 -4110
Exports 9086.49
HRK Million
8940 9950 9050 9025 9590
Imports 14219.28
HRK Million
12800 15720 14500 14574 13700
Current Account 212.10
EUR Million
-34.67 -37.3 -37.04 -37.07 -37.06
Current Account to GDP 3.90
percent
2.9 2.5 2.5 2.5 2
External Debt 46040.29
USD Million
46547 46518 46520 46524 46528
Capital Flows 1048.10
EUR Million
-322 -978 1179 2208 -264
Remittances 622.10
EUR Million
650 609 649 632 691
Tourist Arrivals 2020809.00
0 1609300 1845800 980000 1315300
Terrorism Index 0.03
0.03 0.03 0.03 0.03 0.03
Foreign Direct Investment 344.70
EUR Million
415 420 406 413 408
Crude Oil Production 14.00
BBL/D/1K
13.98 13.98 13.98 13.98 13.98
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 78.00
percent
80.5 78.6 78.6 78.6 75.4
Government Budget 0.80
percent of GDP
-0.2 0.2 0.2 0.2 0.4
Government Budget Value 3507.20
HRK Million
-160 -172 -185 -188 -188
Government Spending 18169.00
HRK Million
18322 17261 18696 17838 19306
Government Spending to GDP 45.30
percent
45.3 45.3 45.3 45.3 45.3
Government Revenues 10782.10
HRK Million
10128 10118 10111 10108 10107
Government Debt 284078.70
HRK Million
282289 282333 282381 282430 282803
Fiscal Expenditure 10186.30
HRK Million
10260 10290 10296 10296 10296
Military Expenditure 745.05
USD Million
771 782 794 805 891
Asylum Applications 65.00
persons
75.82 81.68 78.88 79.74 79.28
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Industrial Production -2.60
percent
3.2 -1.32 -1.06 -1.1 1.8
Industrial Production Mom -1.50
percent
-0.41 -0.1 0.17 0.13 0.07
Manufacturing Production -1.70
percent
-0.35 -0.84 -0.69 -0.71 -0.7
Changes in Inventories 3140.05
HRK Million
1016 1002 1003 1003 1003
Car Registrations 2894.00
4998 5303 4510 4809 4809
Internet Speed 8591.78
KBps
10951 11277 11598 11901 14393
IP Addresses 1286714.00
IP
1211598 1203578 1194952 1185908 1125002
Steel Production 10.00
Thousand Tonnes
2.5 9.96 9.96 9.96 0
Mining Production -15.70
percent
-12.19 -12.56 -12.65 -12.6 -12.58
Business Confidence 11.80
Index Points
10.2 11.5 11.8 10.9 11
Competitiveness Index 60.11
Points
60.61 60.61 60.61 60.61 63.11
Competitiveness Rank 68.00
68 68 68 68 68
Ease of Doing Business 58.00
39 45 48 50 47
Electricity Production 802.00
Gigawatt-hour
974 1102 1088 1050 1060
Corruption Index 49.00
Points
49 49 49 49 49
Corruption Rank 57.00
57 57 57 57 57
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Retail Sales MoM 0.40
percent
0.9 0.35 0.32 0.32 1.1
Retail Sales YoY 3.90
percent
3.6 4 4.2 3.28 3.2
Consumer Spending 50747.00
HRK Million
52942 48904 52219 48959 55785
Consumer Credit 62972.80
HRK Million
63166 63334 63478 63603 64169
Bank Lending Rate 3.67
percent
4.17 4.17 4.17 4.17 4.67
Households Debt To Income 57.06
percent
55.36 55.09 54.82 54.54 55.31
Gasoline Prices 1.59
USD/Liter
1.57 1.54 1.51 1.48 1.37
Consumer Confidence -11.60
Index Points
-8.8 -13 -13.8 -14.3 -17
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Home Ownership Rate 90.00
percent
89.44 89.66 89.88 90.1 90.15
Housing Index 109.26
Index Points
110 110 111 111 112
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 18.00
percent
18 18 18 18 18
Personal Income Tax Rate 36.00
percent
36 36 36 36 36
Sales Tax Rate 25.00
percent
25 25 25 25 25
Social Security Rate 37.20
percent
37.2 37.2 37.2 37.2 37.2
Social Security Rate For Companies 17.20
percent
17.2 17.2 17.2 17.2 17.2
Social Security Rate For Employees 20.00
percent
20 20 20 20 20
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 23.56
celsius
6.85 3.08 16.55 14.37 11.62



Croatia - Economic Forecasts - 2018-2020 Outlook