Croatia - Economic Forecasts - 2018-2020 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 Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.90 0.6 0.6 0.6 0.6 0.5 percent
Unemployment Rate 12.20 11.9 11 10.3 11.5 8.7 percent
Inflation Rate 1.20 1.7 1.6 1.9 2.2 2.4 percent
Interest Rate 2.50 2.5 2.5 2.5 3 3.5 percent
Balance of Trade -2248.67 -3222 -3210 -3226 -3259 -3485 HRK Million
Government Debt to GDP 84.20 80.5 80.5 80.5 80.5 75.4 percent
MARKETS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 6.03
6.22 6.35 6.48 6.61 7.17
Stock Market 1823.49
points
1825 1771 1719 1669 1316
Government Bond 10Y 2.09
percent
2.18 2.28 2.38 2.49 2.96
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Growth Rate 0.90
percent
0.6 0.6 0.6 0.6 0.5
GDP Annual Growth Rate 3.30
percent
2.8 2.9 2.7 2.9 2.6
GDP 50.43
USD Billion
46.22 47.75 49.27 59.21 66.64
GDP Constant Prices 96298.00
HRK Million
78218 84195 95008 89464 88734
Gross Fixed Capital Formation 19091.00
HRK Million
17401 18524 18850 18396 18293
GDP per capita 14372.07
USD
14640 14640 14640 14640 14960
GDP per capita PPP 21408.55
USD
21008 21226 21444 21663 21690
GDP From Agriculture 2866.00
HRK Million
2294 2476 2830 3186 3073
GDP From Construction 3798.00
HRK Million
3710 3729 3739 3732 3721
GDP From Manufacturing 10831.00
HRK Million
10411 10746 10659 10939 10579
GDP From Public Administration 11454.00
HRK Million
11265 11250 11293 11300 11226
GDP From Services 21971.00
HRK Million
11640 16203 21544 14695 15576
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 12.20
percent
11.9 11 10.3 11.5 8.7
Employed Persons 1683.00
Thousand
1593 1622 1623 1592 1562
Unemployed Persons 187363.00
180560 184933 192446 197451 240128
Long Term Unemployment Rate 3.90
percent
4.33 4.33 4.47 4.79 6.61
Youth Unemployment Rate 24.50
percent
24.14 24.15 24.46 25.01 34.09
Labour Costs 80.20
Index Points
95.57 95.25 83.08 84.9 85.46
Productivity 100.90
Index Points
101 102 102 102 102
Wages 6190.00
HRK/Month
6145 6144 6143 6141 6121
Wages in Manufacturing 5711.00
HRK/Month
5560 5538 5519 5505 5369
Minimum Wages 462.34
EUR/Month
462 462 475 475 550
Population 4.15
Million
4.13 4.13 4.16 4.13 4.09
Retirement Age Women 61.90
62 62 62 62 63
Retirement Age Men 65.00
65 65 65 65 65
Part Time Employment 85.70
Thousand
79.85 83.46 88.05 87 93.82
Labor Force Participation Rate 52.20
percent
51.67 51.81 51.75 51.66 51.56
Full Time Employment 1570.80
Thousand
1502 1535 1535 1505 1482
Employment Change 1.40
percent
0.62 0.82 0.31 0.23 0.12
Employment Rate 61.00
percent
57.52 59.4 59.59 57.79 56.95
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 1.20
percent
1.7 1.6 1.9 2.2 2.4
Inflation Rate Mom -0.30
percent
0.25 0.06 0.13 0.7 0.5
Consumer Price Index CPI 100.60
Index Points
100 100 100 100 100
Core Consumer Prices 101.50
Index Points
101 101 101 101 101
Core Inflation Rate 1.40
percent
1.47 1.53 1.58 1.62 1.8
Producer Prices 104.50
Index Points
110 112 105 122 134
Producer Prices Change 1.70
percent
3 2.9 1.26 2.5 2.2
Harmonised Consumer Prices 100.95
Index Points
101 101 100 100 100
Food Inflation 2.20
percent
2 2.08 2.18 2.26 2.47
CPI Transportation 100.20
Index Points
98.99 97.81 97.35 97.35 97.52
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 2.50
percent
2.5 2.5 2.5 3 3.5
Interbank Rate 0.26
percent
0.31 0.55 0.78 1 3
Money Supply M0 25562.10
HRK Million
25893 25750 25727 25683 25192
Money Supply M1 99436.30
HRK Million
99819 99548 99493 99396 98315
Foreign Exchange Reserves 15706.16
EUR Million
15664 15638 15628 15614 15452
Banks Balance Sheet 401545.90
HRK Million
399246 398778 398492 398242 395378
Loans to Private Sector 29114.10
HRK Million
29408 29759 30106 30447 34047
Deposit Interest Rate 0.00
percent
0 0 0.01 0.02 0.07
Cash Reserve Ratio 12.00
percent
12.08 12.18 12.28 12.38 13.4
Central Bank Balance Sheet 126593.70
HRK Million
122951 122801 122731 122636 121546
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade -2248.67
HRK Million
-3222 -3210 -3226 -3259 -3485
Exports 8424.26
HRK Million
9201 9094 9062 9018 8589
Imports 11463.64
HRK Million
12539 12404 12287 12206 11325
Current Account 3868.20
EUR Million
-1552 132 3716 -709 -725
Current Account to GDP 2.60
percent
3.4 3.4 3.4 3.2 2.8
External Debt 46536.04
EUR Million
46351 46290 46218 46142 45248
Capital Flows 2932.40
EUR Million
-1030 627 2505 -4.91 -9.66
Remittances 564.10
EUR Million
579 611 582 602 583
Tourist Arrivals 197334.00
356100 342900 339500 339800 339900
Terrorism Index 0.03
0.57 0.57 0.57 0.56 0.62
Foreign Direct Investment 610.30
EUR Million
419 400 423 405 404
Crude Oil Production 14.00
BBL/D/1K
14.23 14.29 14.35 14.41 14.87
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 84.20
percent
80.5 80.5 80.5 80.5 75.4
Government Budget -0.80
percent of GDP
-0.2 -0.2 -0.2 -0.2 0.4
Government Budget Value 1687.30
HRK Million
-439 -543 -561 -565 -566
Government Spending 17070.00
HRK Million
16516 16867 16596 17118 16838
Government Spending to GDP 48.40
percent
47.86 47.81 47.76 47.71 46.84
Government Revenues 10997.80
HRK Million
9790 9510 9314 9181 8913
Government Debt 291629.30
HRK Million
292424 292281 292078 291860 289202
Fiscal Expenditure 9054.40
HRK Million
9305 9312 9323 9333 9377
Military Expenditure 686.60
USD Million
774 758 743 727 865
Asylum Applications 95.00
persons
88.58 90.41 88.35 85.22 83.76
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Industrial Production -2.50
percent
-0.6 0.02 0.41 3.2 1.8
Industrial Production Mom 1.60
percent
0.63 0.08 0.01 0.08 0.12
Manufacturing Production -4.20
percent
-1.15 -0.18 0.36 0.68 1.16
Changes in Inventories -7377.08
HRK Million
5878 2474 -6855 346 -312
Car Registrations 3730.00
3976 3014 3059 3113 3097
Internet Speed 8591.78
KBps
8780 8835 8777 8699 7637
IP Addresses 1286714.00
IP
1267237 1264460 1261481 1258666 1228154
Steel Production 0.01
Thousand Tonnes
0 0 0 2.5 0
Mining Production -3.00
percent
-1.77 -1.45 -1.31 -1.23 -1.1
Business Confidence 15.90
Index Points
13.8 13.16 11.79 -4 -5
Competitiveness Index 4.19
Points
4.14 4.14 4.14 4.14 4.11
Competitiveness Rank 74.00
72 72 72 72 68
Ease of Doing Business 51.00
55 57 58 59 69
Electricity Production 1134.00
Gigawatt-hour
1124 1036 1027 1050 1049
Corruption Index 49.00
Points
50 49 48 47 44
Corruption Rank 55.00
58 60 61 62 62
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Retail Sales MoM -0.50
percent
0 0.01 0.01 0.9 1.1
Retail Sales YoY 1.40
percent
6.2 5.6 5.2 4.2 3.2
Consumer Spending 46965.00
HRK Million
46432 48889 46658 49324 48645
Consumer Credit 57431.10
HRK Million
57660 57835 58004 58169 59873
Bank Lending Rate 3.80
percent
3.76 3.86 3.97 4.08 5.32
Households Debt To Income 57.06
percent
57.17 56.57 55.97 55.36 55.31
Gasoline Prices 1.57
USD/Liter
1.59 1.57 1.56 1.56 1.49
Consumer Confidence -12.40
Index Points
-13.94 -15.25 -16.36 -14.5 -13.9
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Home Ownership Rate 90.00
percent
89.15 89.2 89.25 89.31 89.34
Housing Index 105.13
Index Points
107 108 108 108 104
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 18.00
percent
18 18 18 18 19
Personal Income Tax Rate 36.00
percent
37 37 37 37 41
Sales Tax Rate 25.00
percent
25 25 25 25 24
Social Security Rate 37.20
percent
37 37 37 37 37
Social Security Rate For Companies 17.20
percent
17.47 17.47 17.47 17.47 16.78
Social Security Rate For Employees 20.00
percent
20 20 20 20 20
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Temperature 23.56
celsius
3.07 15.54 20.01 6.85 11.62