Croatia Economic Outlook
November 3, 2020Following the historic GDP plunge in Q2, recent data points to a recovery in activity in Q3. The decline in industrial production continued to ease in September, recording the softest contraction in almost a year, while the unemployment rate continued to fall steadily from its over one-year high logged in May. Moreover, retail sales dropped at a markedly softer pace in Q3 than in the previous quarter, while economic sentiment showed signs of improvement overall. However, it deteriorated slightly in October amid increased pessimism in the industrial and retail trade sectors. This, together with soaring Covid-19 infections in the same month—which prompted the government to introduce tighter restrictions—could weigh on the crucial tourism industry and hinder the overall recovery in Q4.
Croatia Economic GrowthGDP is seen dropping at the sharpest pace in more than 25 years this year before rebounding solidly in 2021, on the back of reviving foreign demand and strengthening domestic activity. That said, the uncertain trajectory of the pandemic and its impact on the tourism industry, which also faces stronger competition from other destinations, poses a key risk to the outlook. FocusEconomics panelists forecast the economy to grow 5.0% in 2021, which down 0.1 percentage points from last month’s estimate, and 3.8% in 2022.
Croatia Economy Data
5 years of Croatia economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Bond Yield||0.67||0.0 %||Dec 31|
|Exchange Rate||6.64||-0.54 %||Jan 01|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Croatia Economic News
November 17, 2020
Consumer prices rose 0.39% over the previous month in October, below September's 0.88% increase.
October 29, 2020
Industrial output fell at a marginally softer pace of 1.1% year-on-year in working-day adjusted terms in September, following August’s 1.2% drop and marking the best reading in almost a year.
October 16, 2020
Consumer prices rose 0.88% from the previous month in September, swinging from August's 0.10% drop and marking the sharpest increase in prices since March 2019.
September 30, 2020
Industrial output fell at a softer pace of 1.2% year-on-year in working-day adjusted terms in August (July: -1.6% yoy).
September 16, 2020
Consumer prices dropped 0.10% over the previous month in August, a weaker decline than July’s 0.49% drop.