Croatia’s gross domestic product advanced by 7 percent year-on-year in the first quarter of 2022, following a 9.7 percent expansion in the previous period. It was the fourth consecutive quarter of growth following a pandemic-induced recession. Both household consumption (6.3 percent vs 7.7 percent in Q4) and government spending (5.9 percent vs 14.4 percent) slowed while fixed investment picked up (7.9 percent vs 0.8 percent). Meanwhile, net external demand contributed positively to the GDP as exports jumped 29.4 percent (vs 31.7 percent in Q4) while imports grew at a softer 25 percent (vs 16.4 percent in Q4). Croatia's government expects the country's real GDP to grow by 3 percent in 2022. source: Croatian Bureau of Statistics

GDP Annual Growth Rate in Croatia averaged 2.21 percent from 1996 until 2022, reaching an all time high of 16.40 percent in the second quarter of 2021 and a record low of -14.50 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 June of 2022.

GDP Annual Growth Rate in Croatia is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Croatia GDP Annual Growth Rate is projected to trend around 4.50 percent in 2023 and 3.60 percent in 2024, according to our econometric models.

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Croatia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-02-25 10:00 AM Q4 9.7% 15.8% 16%
2022-05-27 09:00 AM Q1 7% 9.7% 3%
2022-08-26 09:00 AM Q2 7% 3.5%


Related Last Previous Unit Reference
GDP Growth Rate -0.10 1.40 percent Dec 2021
GDP Annual Growth Rate 7.00 9.70 percent Mar 2022
GDP Constant Prices 93823.00 98319.00 HRK Million Mar 2022
Gross Fixed Capital Formation 21401.00 20322.00 HRK Million Mar 2022
GDP From Services 16333.00 17575.00 HRK Million Mar 2022
GDP From Public Administration 13451.00 13085.00 HRK Million Mar 2022
GDP From Manufacturing 12056.00 13094.00 HRK Million Mar 2022
GDP From Construction 4987.00 4741.00 HRK Million Mar 2022
GDP From Agriculture 2526.00 3852.00 HRK Million Mar 2022

Croatia GDP Annual Growth Rate
Croatia joined the European Union in 2013, following a decade-long application process. Croatia's main industries are tourism, ICT, automotive, food, pharmaceutical, logistics, metal and textile. 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.
Actual Previous Highest Lowest Dates Unit Frequency
7.00 9.70 16.40 -14.50 1996 - 2022 percent Quarterly
NSA

News Stream
Croatia GDP Growth Continues to Slow
Croatia’s gross domestic product advanced by 7 percent year-on-year in the first quarter of 2022, following a 9.7 percent expansion in the previous period. It was the fourth consecutive quarter of growth following a pandemic-induced recession. Both household consumption (6.3 percent vs 7.7 percent in Q4) and government spending (5.9 percent vs 14.4 percent) slowed while fixed investment picked up (7.9 percent vs 0.8 percent). Meanwhile, net external demand contributed positively to the GDP as exports jumped 29.4 percent (vs 31.7 percent in Q4) while imports grew at a softer 25 percent (vs 16.4 percent in Q4). Croatia's government expects the country's real GDP to grow by 3 percent in 2022.
2022-05-27
Croatia GDP Grows 9.7% YoY in Q4
Croatia’s gross domestic product advanced by 9.7 percent year-on-year in the fourth quarter of 2021, easing from a 15.8 percent expansion in the previous period. It was the third consecutive quarter of growth following a pandemic-induced recession. Both household consumption (7.7 percent vs 16 percent in Q3) and fixed investment (0.8 percent vs 7.6 percent) slowed while government expenditure rebounded (14 percent vs -4.5 percent. Meanwhile, net external demand contributed positively to the GDP as exports jumped 31.7 percent (vs 48.8 percent in Q3) while imports grew at a softer 16.4 percent (vs 13.9 percent in Q3). On a seasonally adjusted quarterly basis, Croatia’s GDP contracted 0.1 percent, after a 1.4 percent growth in Q3.
2022-02-28
Croatia GDP Grows 15.8% YoY in Q3
Croatia's economy expanded by 15.8 percent year-on-year in the third quarter of 2021, following an upwardly revised record 16.5 percent rise in the previous period. It was the second consecutive quarter of growth following a pandemic-induced recession. Household consumption grew 16 percent and fixed investment increased by 7.6 percent. In addition, net external demand contributed positively to the GDP as exports jumped 48.8 percent while imports advanced at a slower 13.9 percent. On the other hand, public spending declined 4.5 percent. On a seasonally adjusted quarterly basis, Croatia's GDP rose 2.7 percent.
2021-11-26