Croatia's gross domestic product advanced 2.8 percent year-on-year in the third quarter of 2018, slowing from a 2.9 percent gain in the previous period, preliminary figures showed. Output increased less for household consumption (2.7 percent vs 3.6 percent in Q2); and net trade contributed negatively to growth, as exports rose at a softer 3.7 percent (from 5.6 percent in the prior quarter) while imports surged 5.1 percent (from 4.7 percent). Contrarily, output went up faster for fixed investment (3.7 percent vs 3.1 percent) and government spending (3.9 percent vs 2.5 percent). On a seasonally adjusted quarterly basis, the economy edged up 0.6 percent, after a downwardly revised 1.0 percent increase in the previous quarter. GDP Annual Growth Rate in Croatia averaged 1.88 percent from 1998 until 2018, reaching an all time high of 6.60 percent in the second quarter of 2003 and a record low of -8.60 percent in the first quarter of 2009.
GDP Annual Growth Rate in Croatia is expected to be 2.90 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 2.90 in 12 months time. In the long-term, the Croatia GDP Annual Growth Rate is projected to trend around 2.60 percent in 2020, according to our econometric models.