Croatia’s GDP contracted 7.0 percent year-on-year in the final quarter of 2020, following a 10.0 percent drop in the previous period, amid the ongoing coronavirus crisis. A rebound gross fixed capital formation kept the economy out of a steeper drop (4.2 percent vs -3.0 percent in Q3), while government spending inched up (1.6 percent vs 1.5 percent), and household spending shrank less (-4.5 percent vs -7.5 percent). In contrast, net trade contributed negatively to the GDP as exports fell 9.8 percent (vs -32.3 percent) and imports declined slower at 7.6 percent (vs -14.1 percent). On a seasonally adjusted quarterly basis, the economy grew 2.7 percent, following an upwardly revised 8.2 percent record growth in the previous period. Considering full 2020, the economy contracted 8.4 percent, after advancing 2.9 percent in the prior year. For this year, Croatia expects a growth of around 5.0 percent, while analysts are a bit more cautious, predicting growth of around 4.4 percent. source: Croatian Bureau of Statistics
GDP Annual Growth Rate in Croatia averaged 1.83 percent from 1996 until 2020, reaching an all time high of 7.20 percent in the second quarter of 1997 and a record low of -15.40 percent in the second quarter of 2020. 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 April of 2021.
GDP Annual Growth Rate in Croatia is expected to be -6.00 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 6.00 in 12 months time. In the long-term, the Croatia GDP Annual Growth Rate is projected to trend around 1.80 percent in 2022 and 2.00 percent in 2023, according to our econometric models.