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 Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 0.10 0.6 0.6 0.6 0.5 0.5 percent
Unemployment Rate 11.50 11.3 11.4 11.5 11 8.7 percent
Inflation Rate 1.30 1.6 1.9 2.2 2.3 2.4 percent
Interest Rate 2.50 2.5 2.5 3 3 3.5 percent
Balance of Trade -6750.99 -5210 -5750 -3860 -5770 -4110 HRK Million
Government Debt to GDP 78.00 80.5 80.5 80.5 78.6 75.4 percent
MARKETS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Currency 6.32
6.18 6.31 6.44 6.58 7.15
Stock Market 1851.38
points
1761 1718 1676 1635 1480
Government Bond 10Y 2.19
percent
2.35 2.47 2.6 2.74 3.34
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Growth Rate 0.10
percent
0.6 0.6 0.6 0.5 0.5
GDP Annual Growth Rate 2.00
percent
2.9 2.7 2.9 2.9 2.6
GDP 50.43
USD Billion
49.8 50.9 59.21 62.14 66.64
GDP Constant Prices 85851.00
HRK Million
85604 97598 88341 79178 93085
Gross Fixed Capital Formation 17826.00
HRK Million
19785 19349 18343 17322 19328
GDP per capita 14372.07
USD
14640 14640 14640 14780 14960
GDP per capita PPP 21408.55
USD
21226 21444 21663 21792 21690
GDP From Agriculture 3199.00
HRK Million
2540 2905 3292 2164 3469
GDP From Construction 3832.00
HRK Million
3805 3849 3943 3667 4155
GDP From Manufacturing 11285.00
HRK Million
11165 10977 11612 10227 12236
GDP From Public Administration 11403.00
HRK Million
11449 11609 11734 11435 12364
GDP From Services 14359.00
HRK Million
16378 22268 14775 12218 15569
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployment Rate 11.50
percent
11.3 11.4 11.5 11 8.7
Employed Persons 1639.00
Thousand
1630 1630 1604 1596 1566
Unemployed Persons 177973.00
171789 174732 182504 181247 178913
Long Term Unemployment Rate 3.60
percent
4.5 4.5 4.5 4.5 4.5
Youth Unemployment Rate 23.30
percent
24.99 25.87 26.69 27.09 26.29
Labour Costs 87.10
Index Points
86.82 86.15 86.66 86.27 86.45
Productivity 101.30
Index Points
103 103 103 103 103
Wages 6128.00
HRK/Month
6200 6150 6170 6320 6600
Wages in Manufacturing 5513.00
HRK/Month
5800 5700 5650 6000 6500
Minimum Wages 462.34
EUR/Month
462 475 475 500 550
Population 4.15
Million
4.13 4.15 4.13 4.15 4.09
Retirement Age Women 62.00
62 62 62 62.25 62.5
Retirement Age Men 65.00
65 65 65 65 65
Part Time Employment 83.80
Thousand
78.25 78.25 78.25 78.25 78.25
Labor Force Participation Rate 52.00
percent
52 52.01 52 52.01 52.01
Full Time Employment 1530.20
Thousand
1556 1556 1556 1556 1556
Employment Change 0.70
percent
1.19 1.2 1.2 1.2 1.2
Employment Rate 59.60
percent
60.1 60.1 60.1 60.1 60.1
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Inflation Rate 1.30
percent
1.6 1.9 2.2 2.3 2.4
Inflation Rate Mom 0.70
percent
-0.13 0.22 0.7 0.12 0.5
Consumer Price Index CPI 101.70
Index Points
101 102 103 103 108
Core Consumer Prices 101.50
Index Points
103 103 103 102 106
Core Inflation Rate 0.70
percent
1.49 1.51 1.5 1.49 1.5
Producer Prices 99.30
Index Points
98.21 97.89 102 99.77 107
Producer Prices Change 1.10
percent
1.1 1.2 2 2 2.2
Harmonised Consumer Prices 102.00
Index Points
102 103 103 103 108
Food Inflation 1.30
percent
0.96 0.91 0.86 0.85 0.83
Cpi Housing Utilities 96.80
Index Points
96.88 97.01 97.13 97.25 98.44
CPI Transportation 100.40
Index Points
99.32 100 102 101 107
MONEY Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Interest Rate 2.50
percent
2.5 2.5 3 3 3.5
Interbank Rate 0.25
percent
0.3 0.3 0.8 0.8 1.3
Money Supply M0 25269.40
HRK Million
24974 25020 24974 24969 24976
Money Supply M1 101348.10
HRK Million
102468 104836 107275 109662 133907
Foreign Exchange Reserves 16479.83
EUR Million
16122 16142 16135 16137 16137
Banks Balance Sheet 396868.80
HRK Million
387441 386799 386470 386206 383501
Loans to Private Sector 29067.30
HRK Million
28098 27704 27351 27035 25150
Deposit Interest Rate 0.00
percent
0 0 0.5 0.5 1
Cash Reserve Ratio 12.00
percent
12 12 12 12 12
Central Bank Balance Sheet 122877.90
HRK Million
123396 123326 123229 123137 122125
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Balance of Trade -6750.99
HRK Million
-5210 -5750 -3860 -5770 -4110
Exports 7725.71
HRK Million
8890 9150 8940 9950 9590
Imports 13194.32
HRK Million
14100 14900 12800 15720 13700
Current Account -674.20
EUR Million
159 173 171 171 171
Current Account to GDP 3.90
percent
3.4 3.4 3.2 3 2.8
External Debt 49700.21
EUR Million
47921 47971 47997 48008 48013
Capital Flows -586.10
EUR Million
907 2398 -485 -849 -351
Remittances 696.10
EUR Million
694 650 715 681 818
Tourist Arrivals 321555.00
1306500 1453700 1502100 1517900 1525700
Terrorism Index 0.03
0.57 0.57 0.56 0.64 0.62
Foreign Direct Investment 548.90
EUR Million
421 445 426 415 404
Crude Oil Production 14.00
BBL/D/1K
14.16 14.21 14.22 14.24 14.24
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt to GDP 78.00
percent
80.5 80.5 80.5 78.6 75.4
Government Budget 0.80
percent of GDP
-0.2 -0.2 -0.2 -0.09 0.4
Government Budget Value -2791.70
HRK Million
-154 -351 -592 -573 -752
Government Spending 17766.00
HRK Million
17255 17300 18281 16088 19263
Government Spending to GDP 45.30
percent
48.1 47.58 47.05 47.24 47.75
Government Revenues 9758.10
HRK Million
9510 9314 9181 9092 8913
Government Debt 283528.90
HRK Million
293932 289444 290228 299260 300019
Fiscal Expenditure 11205.90
HRK Million
9665 9665 9665 9665 9665
Military Expenditure 745.05
USD Million
758 743 727 736 865
Asylum Applications 60.00
persons
79.17 75.55 79.53 78.55 79.46
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Industrial Production -1.70
percent
0.59 2.36 3.2 1.91 1.8
Industrial Production Mom -4.30
percent
-0.42 0.04 0.22 0.27 0.22
Manufacturing Production -3.70
percent
1.65 2.62 2.23 2.22 2.24
Changes in Inventories 1196.40
HRK Million
1149 -6795 1101 -6748 829
Car Registrations 7068.00
5275 3451 4599 4521 4382
Internet Speed 8591.78
KBps
10318 10619 10951 11277 14393
IP Addresses 1286714.00
IP
1231143 1219662 1211598 1203578 1125002
Steel Production 5.00
Thousand Tonnes
0 0 2.5 2.61 0
Mining Production -9.50
percent
-4.36 -4.8 -5.07 -5.07 -5.03
Business Confidence 9.50
Index Points
9.94 12.52 -4 12.32 -5
Competitiveness Index 4.19
Points
4.14 4.14 4.14 4.1 4.11
Competitiveness Rank 74.00
74 74 74 74 74
Ease of Doing Business 51.00
51 51 51 51 51
Electricity Production 1378.00
Gigawatt-hour
989 970 1066 1086 1057
Corruption Index 49.00
Points
49 49 49 49 49
Corruption Rank 57.00
62 63 65 66 65
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Retail Sales MoM 2.50
percent
0.4 0.33 0.9 0.28 1.1
Retail Sales YoY 2.10
percent
5.6 5.2 4.2 3.76 3.2
Consumer Spending 51467.00
HRK Million
49693 47599 52960 47023 55804
Consumer Credit 59298.70
HRK Million
56894 54493 52440 51801 56094
Bank Lending Rate 3.97
percent
3.8 3.8 4.3 4.3 4.8
Households Debt To Income 57.06
percent
56.57 55.97 55.36 55.09 55.31
Gasoline Prices 1.57
USD/Liter
1.47 1.39 1.31 1.23 0.86
Consumer Confidence -11.00
Index Points
-14.03 -15.16 -14.5 -17.2 -13.9
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Home Ownership Rate 90.00
percent
89.43 89.43 89.44 89.66 90.15
Housing Index 108.45
Index Points
105 105 105 105 105
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Corporate Tax Rate 18.00
percent
18 18 18 19 19
Personal Income Tax Rate 36.00
percent
36 36 36 38 41
Sales Tax Rate 25.00
percent
25 25 25 25 24
Social Security Rate 37.20
percent
37.2 37.2 37.2 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 Q2/18 Q3/18 Q4/18 Q1/19 2020
Temperature 23.56
celsius
15.54 20.01 6.85 3.08 11.62