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 Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.80 0.6 0.7 0.6 0.6 0.5 percent [+]
Unemployment Rate 10.90 10.9 10.2 10 9.8 8.7 percent [+]
Inflation Rate 1.00 1.2 1.5 1.7 1.6 2.4 percent [+]
Interest Rate 2.50 2.5 2.5 2.25 2.25 1.5 percent [+]
Balance of Trade -4957.18 -5184 -4999 -4896 -4806 -4176 HRK Million [+]
Government Debt to GDP 84.20 82.8 82.8 80.5 80.5 75.4 percent [+]
MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 6.26 6.11 6.05 5.98 5.92 5.24 [+]
Stock Market 1829.42 1850 1830 1810 1790 1590 points [+]
Government Bond 10Y 2.54 2.92 2.95 2.98 3.01 3.32 percent [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Growth Rate 0.80 0.6 0.7 0.6 0.6 0.5 percent [+]
GDP Annual Growth Rate 2.80 2.7 3 2.8 2.9 2.6 percent [+]
GDP 50.43 50.86 56.69 51.37 50.77 66.64 USD Billion [+]
GDP Constant Prices 84380.00 86845 85973 86282 86173 86201 HRK Million [+]
Gross Fixed Capital Formation 19502.00 18955 18057 17360 19745 18654 HRK Million [+]
GDP per capita 14372.07 14408 14558 14579 14600 14961 USD [+]
GDP per capita PPP 21408.55 21461 21685 21717 21748 22286 USD [+]
GDP From Agriculture 2504.00 2631 2636 2636 2636 2636 HRK Million [+]
GDP From Construction 3751.00 3645 3672 3582 3737 3687 HRK Million [+]
GDP From Manufacturing 11005.00 10664 11312 10235 11045 11215 HRK Million [+]
GDP From Public Administration 11285.00 11260 11206 11277 11401 11448 HRK Million [+]
GDP From Services 16144.00 14870 14752 14741 14740 14740 HRK Million [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 10.90 10.9 10.2 10 9.8 8.7 percent [+]
Employed Persons 1545.00 1598 1564 1558 1584 1570 Thousand [+]
Unemployed Persons 171351.00 189771 221227 210878 192855 203523 [+]
Long Term Unemployment Rate 5.90 5.02 5.42 5.06 4.72 4.74 percent [+]
Youth Unemployment Rate 26.40 24.31 22.57 21.13 19.92 14.86 percent [+]
Productivity 101.40 101 101 101 101 101 Index Points [+]
Labour Costs 96.80 86.43 87.4 94.89 95.72 88.27 Index Points [+]
Job Vacancies 8676.00 11050 11050 11050 11050 11050 [+]
Wages 6005.00 6000 6002 6003 6003 6003 HRK/Month [+]
Wages in Manufacturing 5517.00 5429 5440 5438 5442 5444 HRK/Month [+]
Minimum Wages 433.35 434 414 438 442 423 EUR/Month [+]
Population 4.15 4.15 4.15 4.13 4.13 4.09 Million [+]
Retirement Age Women 61.90 61.9 61.9 62.08 62.15 62.54 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change -0.80 0.34 -0.23 -0.02 0.12 0.03 percent [+]
Employment Rate 55.90 58.35 56.95 56.54 57.85 57.28 percent [+]
Full Time Employment 1459.20 1502 1482 1470 1488 1483 Thousand [+]
Labor Force Participation Rate 50.60 50.81 50.76 50.59 50.67 50.66 percent [+]
Part Time Employment 69.40 81.28 73.75 74.56 79.4 76.58 Thousand [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 1.00 1.2 1.5 1.7 1.6 2.4 percent [+]
Inflation Rate Mom 0.00 0.16 0.5 0.01 0 0.5 percent [+]
Consumer Price Index CPI 99.00 99.08 99.22 99.17 99.17 99.09 Index Points [+]
Core Consumer Prices 100.50 101 101 101 102 102 Index Points [+]
Core Inflation Rate 1.70 1.72 1.77 1.8 1.81 1.83 percent [+]
Producer Prices 102.30 106 108 110 112 134 Index Points [+]
Food Inflation 3.10 2.9 2.85 2.88 2.88 2.89 percent [+]
CPI Transportation 98.10 97.02 97.63 97.35 97.35 97.38 Index Points [+]
Harmonised Consumer Prices 101.00 101 101 102 102 105 Index Points [+]
Producer Prices Change 2.60 2.5 3.2 3 2.9 2.2 percent [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 2.50 2.5 2.5 2.25 2.25 1.5 percent [+]
Interbank Rate 0.36 0.42 0.58 0.82 1.05 2.84 percent [+]
Money Supply M0 26515.00 26475 25202 25084 25314 25287 HRK Million [+]
Money Supply M1 93494.80 94123 94141 94141 94141 94141 HRK Million [+]
Foreign Exchange Reserves 14667.12 14410 14421 14426 14420 14421 EUR Million [+]
Banks Balance Sheet 389623.90 392571 394723 396888 399035 419414 HRK Million [+]
Loans to Private Sector 30410.20 30048 29546 29101 28705 26479 HRK Million [+]
Deposit Interest Rate 0.00 0 0 0 0 0 percent [+]
Cash Reserve Ratio 12.00 11.99 11.98 11.98 11.97 11.92 percent [+]
Central Bank Balance Sheet 106458.00 107908 107948 107931 107930 107930 HRK Million [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade -4957.18 -5184 -4999 -4896 -4806 -4176 HRK Million [+]
Exports 8308.69 8417 8316 8278 8237 7853 HRK Million [+]
Imports 13265.87 13607 13400 13298 13205 12325 HRK Million [+]
Current Account -1527.60 -185 -172 -173 -173 -173 EUR Million [+]
Current Account to GDP 2.60 3.7 3.7 3.4 3.4 2.8 percent [+]
External Debt 45892.13 45796 45725 45656 45589 44999 EUR Million [+]
Capital Flows -971.40 2188 -113 -832 913 -27.38 EUR Million [+]
Remittances 569.50 533 580 552 586 620 EUR Million [+]
Tourist Arrivals 4088802.00 3292200 504400 175000 298000 315600 [+]
Gold Reserves 13.13 13.13 13.13 13.13 13.13 13.13 Tonnes [+]
Crude Oil Production 13.00 13 13 13 13 13 BBL/D/1K [+]
Foreign Direct Investment 346.70 272 296 296 293 292 EUR Million [+]
Terrorism Index 0.06 0.43 0.4 0.42 0.45 0.28 [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 84.20 82.8 82.8 80.5 80.5 75.4 percent [+]
Government Budget -0.80 -0.4 -0.4 -0.2 -0.2 0.4 percent of GDP [+]
Government Budget Value 93.80 -315 -399 -408 -419 -416 HRK Million [+]
Government Spending 17008.00 16072 17003 16077 16999 16977 HRK Million [+]
Government Spending to GDP 48.40 47.58 47.05 47.24 47.43 48.4 percent [+]
Government Revenues 9938.80 9392 9425 9433 9434 9435 HRK Million [+]
Government Debt 291509.40 295279 296568 297784 298957 308718 HRK Million [+]
Fiscal Expenditure 10214.70 9827 9870 9876 9880 9879 HRK Million [+]
Asylum Applications 65.00 55.03 62.33 58.22 59.99 59.56 persons [+]
Military Expenditure 686.60 699 677 676 674 717 USD Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Industrial Production 2.50 1.41 3.9 2.2 2.38 1.8 percent [+]
Industrial Production Mom -1.10 -0.65 -0.12 0.2 0.28 0.19 percent [+]
Manufacturing Production 3.10 2.89 3.67 3.64 3.76 3.8 percent [+]
Changes in Inventories 2190.00 -8989 476 5723 2347 -398 HRK Million [+]
Car Registrations 2405.00 3741 4034 4273 4316 5253 Cars [+]
Business Confidence 14.30 13.72 -2 16.24 16.56 -5 [+]
Competitiveness Index 4.15 4.13 4.13 4.12 4.12 4.14 Points [+]
Competitiveness Rank 74.00 70 70 77 80 78 [+]
Ease of Doing Business 43.00 49 50 40 31 7 [+]
Electricity Production 802.00 870 1135 1096 1006 1029 Gigawatt-hour [+]
Corruption Index 49.00 50 49 50 50 54 Points [+]
Corruption Rank 55.00 56 58 57 57 56 [+]
Steel Production 0.01 0 0 0 0 0 Thousand Tonnes [+]
Mining Production -3.90 -2.81 -3.28 -3.32 -3.23 -3.27 percent [+]
CONSUMER Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Retail Sales MoM -0.90 0.03 1.2 0.59 0.66 1.1 percent [+]
Retail Sales YoY 5.90 5.9 6 6.2 5.6 3.2 percent [+]
Consumer Spending 48983.00 46732 50977 46855 50081 52147 HRK Million [+]
Personal Savings 8.95 17.51 9.31 14.79 14.18 10.25 percent [+]
Consumer Credit 53977.30 53740 53412 53118 52853 51297 HRK Million [+]
Bank Lending Rate 4.47 4.44 4.4 4.39 4.39 4.39 percent [+]
Consumer Confidence -17.00 -17.74 -16.4 -17.66 -17.7 -13.9 [+]
Gasoline Prices 1.48 1.5 1.49 1.48 1.48 1.48 USD/Liter [+]
Households Debt To Income 57.06 55.97 55.36 55.09 54.82 54.47 percent [+]
HOUSING Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Home Ownership Rate 90.10 89.47 89.46 89.67 89.87 90.22 percent [+]
Housing Index 100.85 101 100 100 100 100 Index Points [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 18.00 20 20 18.5 18 18 percent [+]
Personal Income Tax Rate 47.20 47.16 47.16 47.15 47.14 47.08 percent [+]
Sales Tax Rate 25.00 25 25 25 25 25 percent [+]
Social Security Rate 37.20 35.7 35.2 35.2 35.2 37.2 percent [+]
Social Security Rate For Companies 17.20 15.7 15.2 15.2 15.2 17.2 percent [+]
Social Security Rate For Employees 20.00 20 20 20 20 20 percent [+]