The Gross Domestic Product (GDP) in Croatia contracted 14.90 percent in the second quarter of 2020 over the previous quarter.

GDP Growth Rate in Croatia averaged 0.36 percent from 1996 until 2020, reaching an all time high of 3.60 percent in the second quarter of 2005 and a record low of -14.90 percent in the second quarter of 2020. This page provides - Croatia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Croatia GDP Growth Rate - values, historical data and charts - was last updated on October of 2020.

GDP Growth Rate in Croatia is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Croatia to stand at 3.00 in 12 months time. In the long-term, the Croatia GDP Growth Rate is projected to trend around 0.50 percent in 2021 and 1.00 percent in 2022, according to our econometric models.

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Croatia GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-14.90 -1.30 3.60 -14.90 1996 - 2020 percent Quarterly

Croatia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -14.90 -1.30 3.60 -14.90 percent [+]
GDP Annual Growth Rate -15.10 0.40 7.50 -15.10 percent [+]
GDP 60.42 60.99 70.29 10.28 USD Billion [+]
GDP Constant Prices 81591.00 86023.00 107336.00 62113.00 HRK Million [+]
Gross Fixed Capital Formation 18777.00 20315.00 26263.00 9612.00 HRK Million [+]
GDP per capita 16454.50 15905.60 16454.50 8568.40 USD [+]
GDP per capita PPP 28508.50 27557.50 28508.50 14845.40 USD [+]
GDP From Agriculture 2452.00 2218.00 4222.00 1964.00 HRK Million [+]
GDP From Construction 4263.00 4320.00 6811.00 2660.00 HRK Million [+]
GDP From Manufacturing 11036.00 11201.00 13779.00 9421.00 HRK Million [+]
GDP From Public Administration 11936.00 11836.00 11936.00 9974.00 HRK Million [+]
GDP From Services 12750.00 13688.00 25861.00 7851.00 HRK Million [+]

Croatia GDP Growth Rate
The most important sector of Croatian economy is services with tourism accounting for 20 percent of GDP. The industry, although declining in recent years, is led by shipbuilding, food processing, pharmaceuticals and information technology. On the expenditure side, household consumption is the main component of GDP and accounts for 60 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (19 percent). Exports of goods and services account for 46 percent of GDP while imports account for 44 percent, adding 2 percent of total GDP.