Croatia GDP Q4 2015


Croatia: GDP growth slows in Q4

March 4, 2016

GDP expanded 1.9% in Q4 over the same quarter of last year, according to preliminary figures released by the Croatian Bureau of Statistics on 4 March. The reading was down from the 2.8% growth tallied in Q3, yet it represented the fifth consecutive expansion in annual terms.

The slowdown in Q4 reflected a deterioration in the contribution from the external sector, while the domestic sector improved compared to the previous quarter. Private consumption increased 2.4% over the same quarter of the previous year (Q3: +1.4% year-on-year) and government spending grew 0.8% (Q3: +0.6% yoy). Fixed investment rose 3.7%, which was above Q3’s 2.2% annual increase.

On the external side of the economy, exports of goods and services grew 11.6% in Q4, which was above the 8.0% growth recorded in Q3, while imports grew 13.6% (Q3: +8.1% yoy). As imports grew at a faster pace than exports, the external sector’s net contribution to overall economic growth swung from plus 1.6 percentage points in Q3 to minus 1.0 percentage points in Q4.

FocusEconomics panelists expect GDP to rise 1.5% in 2016, which is up 0.1 percentage points from last month’s estimate. In 2017, the panel expects economic growth to accelerate to 1.7%.

Author: Massimo Bassetti, Senior Economist

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Croatia GDP Chart

Croatia GDP Q4 2015

Note: Year-on-year changes of GDP in %.
Source: Croatian Bureau of Statistics (CBS) and FocusEconomics Consensus Forecast.

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