In the fourth quarter, GDP contracted 0.2% over the same quarter the previous year, based on a preliminary flash estimate released by the Croatian Bureau of Statistics on 29 February. The print contrasted Q3's 0.7% expansion and broke the positive trend seen in the previous two quarters. The economy expanded 0.2% in the full year 2011, however, after contracting in the previous two years. Full details of the national accounts data set will be published on 20 March. Other indicators show that overall economic activity deteriorated across the board, in particular merchandise exports, which contracted 12.3% in EUR terms in the last quarter (Q3: +3.8% year-on-year). Moreover, retail sales moderated to 4.0% growth in the fourth quarter from 4.6% in the third. Although tourist arrivals provided a positive note (Q3: +7.0% yoy; Q4: +7.7% yoy), industrial production remained flat (Q3: -2.4% yoy).
Economy contracts in fourth quarter
February 29, 2012
Looking for forecasts related to GDP in Croatia? Download a sample report now.
Croatia Economic News
October 17, 2016
In September, consumer prices increased 1.0% from the previous month, which contrasted August’s 0.2% drop and marked the highest reading in four years.
September 29, 2016
After months of political conflict had led the government to collapse in June, snap elections were held in Croatia on 11 September.
September 29, 2016
In August, industrial output rose 2.5% over the same month of last year in seasonally and working-day adjusted terms, which represented an acceleration over July’s weaker 1.2% increase.
September 15, 2016
In August, consumer prices declined 0.2% over the previous month, which was a softer drop than July’s 0.7% decrease.
September 2, 2016
In July, industrial output rose 1.2% over the same month of last year in working-day adjusted terms, which represented a significant slowdown from June’s 4.1% increase and the lowest result in seven months.