GDP in Croatia
Croatia - GDP
GDP growth speeds up slightly in Q3
GDP in Croatia expanded 2.9% in Q3 over the same quarter last year, according to more detailed figures released by the Croatian Bureau of Statistics on 7 December. The reading was slightly up from the 2.8% growth in Q2, represented the highest result since Q2 2008 and matched the preliminary estimates.
The acceleration in Q3 came on the back of faster growth in private consumption and a positive contribution from the external sector, while government consumption and fixed investment, in particular, decelerated.
Private consumption increased 3.4% over the same quarter last year, which was up from Q2’s 3.1% growth as well as the highest rate since Q1 2008. Government consumption expanded 2.1% annually, which represented a slowdown compared to Q2’s 2.5% growth. Fixed investment decelerated substantially, rising 2.9% and so deteriorating from Q2’s 6.5% annual increase. The reading represented the lowest result in one year.
On the external side of the economy, exports of goods and services grew 6.3% in Q3, speeding up from the 4.0% expansion recorded in Q2, while imports decelerated and rose 6.0% (Q2: +7.3% year-on-year). As imports decelerated while exports grew more rapidly, the external sector’s net contribution to overall economic growth improved in Q3, swinging from minus 1.7 percentage points in Q2 to plus 1.4 percentage points in Q3, marking the best result in one year.
FocusEconomics panelists expect GDP to rise 1.9% in 2016, which is up 0.1 percentage points from last month’s estimate. In 2017, the panel expects economic growth to accelerate to 2.0%.
Croatia - GDP Data
|Economic Growth (GDP, annual variation in %)||-0.3||-2.2||-1.1||-0.4||1.6|
5 years of economic forecasts for more than 30 economic indicators.
Croatia GDP Chart
Source: Central Bureau of Statistics and FocusEconomics calculations.
|Bond Yield||2.76||-0.79 %||Feb 16|
|Exchange Rate||6.97||-0.90 %||Feb 16|
|Stock Market||2,181||0.65 %||Feb 16|
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February 1, 2017
In December, Croatian consumer prices dropped 0.2% from the previous month, contrasting November’s 0.1% increase and marking the lowest reading in four months.
January 30, 2017
In December, industrial output rose an impressive 14.9% from the same month last year in seasonally and working-day adjusted terms, which came in well above November’s robust 7.2% increase and marked a multi-year high.
December 29, 2016
In November, industrial output in Croatia rose a strong 7.1% from the same month last year in seasonally and working-day adjusted terms, which came in well above October’s 1.7% increase and marked the highest result in ten months.
December 16, 2016
In November, consumer prices in Croatia rose 0.1% from the previous month, which followed October’s stronger 0.4% increase and marked the lowest reading in three months.
December 9, 2016
GDP in Croatia expanded 2.9% in Q3 over the same quarter last year, according to more detailed figures released by the Croatian Bureau of Statistics on 7 December.