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.

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Croatia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.40 2.50 7.50 -8.80 1996 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-08-28 09:00 AM YoY Q2 2.4% 3.9% 3%
2019-11-27 10:15 AM YoY Q3 2.9% 2.4% 2.2%
2020-02-28 10:00 AM YoY Q4 2.5% 2.9% 2.7%
2020-05-29 09:00 AM YoY Q1 0.4% 2.5% 3%
2020-08-28 09:00 AM YoY Q2 0.4% -19%
2020-11-27 10:15 AM YoY Q3 -13.5%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Croatia Q1 GDP Growth Slows to 5-1/2-Year Low
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.
2020-05-29
Croatia GDP Growth Slows to 2.5% YoY in Q4
Croatia’s gross domestic product grew 2.5 percent year-on-year in the last quarter of 2019, easing from a 2.9 percent expansion in the previous period. Gross fixed capital formation slowed (4.0 percent vs 5.0 percent in Q3) while net trade contributed negatively to growth, with export rising 5.6 percent (vs 5.1 percent in Q3) and imports increasing 0.1 percent (vs 4.3 percent in Q3). Meantime, both household (4.0 percent vs 3.1 percent) and government spending (3.5 percent vs 2.9 percent) advanced faster. On a seasonally adjusted quarterly basis, the GDP expanded 032 percent, following a 0.8 percent growth in the previous quarter. For the whole 2019, the GDP advanced 2.9 percent.
2020-02-28
Croatia GDP Growth Picks Up to 2.9% YoY in Q3
Croatia’s GDP expanded 2.9 percent year-on-year in the third quarter of 2019, accelerating from a 2.4 percent advance in the previous period. Household consumption rose faster (3.3 percent vs 2.7 percent in Q2) while gross fixed capital formation (5.0 percent vs 8.2 percent) and government expenditure (2.9 percent vs 3.9 percent) slowed. Also, net foreign demand contributed positively to growth, as exports climbed 4.7 percent (vs 3.3 percent in Q2) and imports went up at a softer 1.1 percent (vs 8.3 percent in Q2). On a seasonally adjusted quarterly basis, the GDP grew 0.8 percent, above a 0.5 percent gain in Q2.
2019-11-27
Croatia GDP Growth Slows to 2.4% YoY in Q2
Croatia’s gross domestic product grew 2.4 percent year-on-year in the second quarter of 2019, easing from a 3.9 percent expansion in the previous period. Household consumption (2.7 percent from 4.4 percent in Q1) and gross fixed capital formation (8.2 percent from 1.5 percent) slowed while government expenditure advanced faster (3.9 percent from 3.1 percent). Also, net foreign demand contributed negatively to GDP growth, as exports rose 1.3 percent (from 4.6 percent in Q1) and imports jumped at a faster 6.7 percent (from 7.7 percent in Q1). On a seasonally adjusted quarterly basis, the GDP expanded 0.2 percent, much softer than a downwardly revised 1.5 percent growth in the first quarter.
2019-08-28

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.