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. source: Croatian Bureau of Statistics

GDP Annual Growth Rate in Croatia averaged 2.17 percent from 1996 until 2021, reaching an all time high of 16.50 percent in the second quarter of 2021 and a record low of -14.40 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 May of 2022.

GDP Annual Growth Rate in Croatia is expected to be 8.80 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 4.00 percent in 2023 and 2.00 percent in 2024, according to our econometric models.

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Croatia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-11-26 10:00 AM Q3 15.8% 16.5% 11.6%
2022-02-25 10:00 AM Q4 9.7% 15.8% 16%
2022-05-27 09:00 AM Q1 9.7% 7%


Related Last Previous Unit Reference
GDP Growth Rate -0.10 1.40 percent Dec 2021
GDP Annual Growth Rate 9.70 15.80 percent Dec 2021
GDP Constant Prices 98363.00 96068.00 HRK Million Dec 2021
Gross Fixed Capital Formation 20322.00 22698.00 HRK Million Dec 2021
GDP From Services 17575.00 27932.00 HRK Million Dec 2021
GDP From Public Administration 13085.00 13009.00 HRK Million Dec 2021
GDP From Manufacturing 13094.00 12622.00 HRK Million Dec 2021
GDP From Construction 4741.00 4817.00 HRK Million Dec 2021
GDP From Agriculture 3852.00 3570.00 HRK Million Dec 2021

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
9.70 15.80 16.50 -14.40 1996 - 2021 percent Quarterly
NSA

News Stream
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
Croatia Economy Expands at Record Pace
Croatia's gross domestic product expanded by a record 16.1 percent year-on-year in the second quarter of 2021, the first period of growth in over a year, reflecting a low base year triggered by the coronavirus crisis and the ongoing economic recovery. Household consumption jumped 18.4 percent and fixed investment surged by 18.3 percent. In addition, public spending advanced by 4.0 percent and net external demand contributed positively to the GDP as exports rose more than imports. On a seasonally adjusted quarterly basis, Croatia's GDP fell slightly by 0.2 percent.
2021-08-27