Croatia’s gross domestic product grew 0.4 percent year-on-year in the first quarter of 2020, slowing from a 2.5 percent expansion in the previous period. It was the weakest growth rate since the third quarter of 2014, amid the coronavirus pandemic. Household spending rose 0.7 percent, easing from a 4 percent increase in the prior quarter; and fixed capital formation went up 3.1 percent, less than a 4 percent rise. Meanwhile, government expenditure expanded 4.8 percent, faster than a 3.5 percent increase in the last quarter of 2019 and net trade contributed negatively to growth as export dropped 3 percent (vs 5.6 percent in Q4 2019) and imports declined at a faster 5.8 percent (vs 0.1 percent in Q4 2019). On a seasonally adjusted quarterly basis, the GDP contracted 1.2 percent, after growing 0.4 percent in the prior period.
GDP Annual Growth Rate in Croatia averaged 2.25 percent from 1996 until 2020, reaching an all time high of 7.50 percent in the second quarter of 1997 and a record low of -8.80 percent in the first quarter of 2009. This page provides - Croatia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Croatia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
GDP Annual Growth Rate in Croatia is expected to be -13.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Croatia to stand at 19.00 in 12 months time. In the long-term, the Croatia GDP Annual Growth Rate is projected to trend around 9.80 percent in 2021 and 2.00 percent in 2022, according to our econometric models.