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 Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.20 0.6 0.6 0.2 0.4 0.5 percent
Unemployment Rate 9.20 8.9 8.7 8.6 8.5 8.3 percent
Inflation Rate 1.90 1.5 1.4 1.3 1.3 1 percent
Interest Rate 2.50 2.5 3 3 3 3.5 percent
Balance of Trade -5661.65 -5750 -3860 -5770 -5450 -4110 HRK Million
Government Debt to GDP 78.00 80.5 80.5 78.6 78.6 75.4 percent
MARKETS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Currency 6.31
6.47 6.59 6.72 6.84 7.38
Stock Market 1802.96
points
1760 1724 1688 1653 1520
Government Bond 10Y 2.18
percent
2.29 2.41 2.53 2.66 3.24
GDP Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
GDP Growth Rate 0.20
percent
0.6 0.6 0.2 0.4 0.5
GDP Annual Growth Rate 2.50
percent
2.7 2.9 2.6 2.6 2.6
GDP 54.85
USD Billion
56 56 57 57 58
GDP Constant Prices 79593.00
HRK Million
97598 88341 81662 86574 93085
Gross Fixed Capital Formation 17676.00
HRK Million
19349 18343 18136 20009 19328
GDP per capita 15219.88
USD
14640 14640 14780 14780 14960
GDP per capita PPP 22669.80
USD
23500 23500 23750 23750 24000
GDP From Agriculture 1936.00
HRK Million
2905 3292 1986 2569 3469
GDP From Construction 3686.00
HRK Million
3849 3943 3782 3849 4155
GDP From Manufacturing 10136.00
HRK Million
10977 11612 10400 11291 12236
GDP From Public Administration 11542.00
HRK Million
11609 11734 11842 11578 12364
GDP From Services 12153.00
HRK Million
22268 14775 12469 16564 15569
LABOUR Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 9.20
percent
8.9 8.7 8.6 8.5 8.3
Employed Persons 1616.00
Thousand
1674 1642 1635 1661 1648
Unemployed Persons 141896.00
134696 161799 160288 144970 150970
Long Term Unemployment Rate 3.60
percent
2.54 2.44 2.37 2.16 1.65
Youth Unemployment Rate 23.60
percent
21.35 20.52 19.84 19.28 17.07
Labour Costs 97.60
Index Points
91.84 91.77 91.76 91.76 91.76
Productivity 100.80
Index Points
101 101 101 101 101
Wages 6220.00
HRK/Month
6150 6170 6320 6216 6600
Wages in Manufacturing 5617.00
HRK/Month
5700 5650 6000 5588 6500
Minimum Wages 462.34
EUR/Month
475 475 500 480 550
Population 4.11
Million
4.11 4.11 4.08 4.08 4.05
Retirement Age Women 62.00
62 62 62.25 62 62.5
Retirement Age Men 65.00
65 65 65 65 65
Part Time Employment 83.80
Thousand
83.33 80.64 78.52 80.36 80.16
Labor Force Participation Rate 51.00
percent
51.67 51.5 51.2 51.39 51.39
Full Time Employment 1530.20
Thousand
1573 1541 1531 1561 1549
Employment Change 1.00
percent
0.92 0.98 1.04 0.97 0.99
Employment Rate 59.00
percent
62.33 61.02 60.71 62.36 62.69
PRICES Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Inflation Rate 1.90
percent
1.5 1.4 1.3 1.3 1
Inflation Rate Mom 0.40
percent
0.2 0.7 0.13 0.13 0.5
Consumer Price Index CPI 102.10
Index Points
102 102 102 103 104
Core Consumer Prices 102.20
Index Points
102 102 102 103 103
Core Inflation Rate 0.70
percent
0.55 0.51 0.5 0.48 0.47
Producer Prices 100.00
Index Points
99.95 101 101 102 106
Producer Prices Change 3.50
percent
2.2 2 2 2.2 2.2
Harmonised Consumer Prices 102.27
Index Points
103 102 102 104 105
Food Inflation 1.60
percent
1.55 1.58 1.59 1.6 1.6
Cpi Housing Utilities 97.00
Index Points
97.2 97.34 97.48 97.61 98.83
CPI Transportation 102.30
Index Points
100 102 100 101 104
MONEY Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Interest Rate 2.50
percent
2.5 3 3 3 3.5
Interbank Rate 0.25
percent
0.25 0.75 0.75 0.75 1.25
Money Supply M0 26719.60
HRK Million
26480 26151 26265 26314 26288
Money Supply M1 106502.00
HRK Million
109947 113209 116253 119297 147685
Foreign Exchange Reserves 16612.38
EUR Million
16510 16450 16472 16466 16467
Banks Balance Sheet 397711.40
HRK Million
400977 403047 405096 407126 426450
Loans to Private Sector 29561.50
HRK Million
29168 28913 28686 28484 27367
Deposit Interest Rate 0.00
percent
0 0.5 0.5 0.5 1
Cash Reserve Ratio 12.00
percent
11.99 11.98 11.98 11.98 11.95
Central Bank Balance Sheet 121377.80
HRK Million
122025 122040 122055 122051 122051
TRADE Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Balance of Trade -5661.65
HRK Million
-5750 -3860 -5770 -5450 -4110
Exports 9087.28
HRK Million
9150 8940 9950 9050 9590
Imports 14748.93
HRK Million
14900 12800 15720 14500 13700
Current Account -1901.90
EUR Million
-54.04 -34.29 -36.23 -36.04 -36.05
Current Account to GDP 3.90
percent
3.4 3.2 3 3 2.8
External Debt 50076.05
EUR Million
49893 49846 49819 49808 49804
Capital Flows -1154.30
EUR Million
2429 -379 -1054 1048 -322
Remittances 696.10
EUR Million
650 715 681 728 818
Tourist Arrivals 1442983.00
1243400 869400 1152200 1196100 1119800
Terrorism Index 0.03
0.22 0.18 0.2 0.23 0.16
Foreign Direct Investment 548.90
EUR Million
445 426 415 413 404
Crude Oil Production 13.00
BBL/D/1K
13.12 13.13 13.13 13.14 13.14
GOVERNMENT Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Government Debt to GDP 78.00
percent
80.5 80.5 78.6 78.6 75.4
Government Budget 0.80
percent of GDP
-0.2 -0.2 -0.46 -0.93 0.4
Government Budget Value 2438.80
HRK Million
-917 -918 -916 -919 -920
Government Spending 16775.00
HRK Million
17300 18281 17211 17450 19263
Government Spending to GDP 45.30
percent
46.17 46.01 46.24 46.47 48.57
Government Revenues 8241.20
HRK Million
9602 9616 9618 9618 9618
Government Debt 281889.33
HRK Million
282164 282024 281887 281756 280667
Fiscal Expenditure 10956.00
HRK Million
10519 10533 10534 10538 10538
Military Expenditure 745.05
USD Million
754 771 782 794 891
Asylum Applications 110.00
persons
92.16 105 96.26 101 99.7
BUSINESS Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Industrial Production -0.70
percent
-0.52 3.2 -0.48 -0.56 1.8
Industrial Production Mom 1.80
percent
-0.39 0.3 0.18 0.15 0.11
Manufacturing Production 0.10
percent
0.01 0.13 0.15 0.07 0.08
Changes in Inventories 7290.55
HRK Million
-7152 945 7088 2819 225
Car Registrations 8762.00
4011 4642 5357 4902 4974
Internet Speed 8591.78
KBps
10619 10951 11277 11598 14393
IP Addresses 1286714.00
IP
1219662 1211598 1203578 1194952 1125002
Steel Production 10.00
Thousand Tonnes
0 2.5 8.79 8.78 0
Mining Production -10.30
percent
-9.21 -9.35 -9.35 -9.32 -9.31
Business Confidence 12.10
Index Points
11.08 -4 10.95 10.93 -5
Competitiveness Index 4.19
Points
4.14 4.14 4.11 4.1 4.11
Competitiveness Rank 74.00
73 73 74 74 73
Ease of Doing Business 51.00
49 51 51 51 51
Electricity Production 1195.00
Gigawatt-hour
1097 1081 1075 1073 1071
Corruption Index 49.00
Points
48 48 48 48 49
Corruption Rank 57.00
56 55 55 56 56
CONSUMER Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Retail Sales MoM 4.80
percent
-0.4 0.9 0.81 0.78 1.1
Retail Sales YoY 7.90
percent
3.3 3.6 4 4.2 3.2
Consumer Spending 47526.00
HRK Million
47599 52960 48762 50257 55804
Consumer Credit 61223.50
HRK Million
54493 52440 51801 52786 56094
Bank Lending Rate 3.91
percent
3.91 4.41 4.41 4.41 4.91
Households Debt To Income 57.06
percent
55.97 55.36 55.09 54.82 55.31
Gasoline Prices 1.61
USD/Liter
1.52 1.44 1.36 1.28 0.75
Consumer Confidence -10.50
Index Points
-10.95 -14.5 -10.42 -10.4 -13.9
HOUSING Actual Q3/18 Q4/18 Q1/19 Q2/19 2020
Home Ownership Rate 90.00
percent
89.43 89.44 89.66 89.88 90.15
Housing Index 109.44
Index Points
112 113 114 115 117
TAXES Actual Q3/18 Q4/18 Q1/19 Q2/19 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 37 37
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 Q3/18 Q4/18 Q1/19 Q2/19 2020
Temperature 23.56
celsius
20.01 6.85 3.08 16.55 11.62