Croatia Economic Outlook
January 14, 2020The economy gained ground in the third quarter, driven by an improving external sector and resilient household spending. Exports of goods and services accelerated on stronger merchandise shipments, while a tighter labor market and solid wage gains lifted private consumption. Turning to Q4, economic momentum likely held up. The tourism sector started off on a stronger footing with arrivals rising robustly in October. That said, industrial production fell in October-November. On the political front, Zoran Milanovic from the Social Democrat party won Croatia’s presidential election on 5 January, ousting center-right incumbent Kolinda Grabar-Kitarovic. While the president typically has a limited role in matters of foreign policy and security, Milanovic will have a higher profile since Croatia took over the rotating presidency of the EU on 1 January.
Croatia Economic GrowthEconomic growth is forecast to cool this year, particularly as the push from fixed investment weakens and the tourism sector faces stronger competition. Even so, growth should remain sturdy, buttressed by solid private consumption amid income tax cuts and public-sector wage hikes, and ongoing EU structural-funds absorption. A weaker Euro area remains a risk to the outlook. FocusEconomics panelists expect growth of 2.5% in 2020, which is up 0.1 percentage points from last month’s forecast, and 2.3% in 2021.
Croatia Economy Data
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|Bond Yield||0.67||0.0 %||Dec 31|
|Exchange Rate||6.64||-0.54 %||Jan 01|
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Croatia Economic News
January 16, 2020
Consumer prices dipped 0.1% over the prior month in December, following November’s 0.2% drop.
December 30, 2019
Industrial production fell 0.4% in working-day adjusted terms over the same month last year in November, contrasting October’s 0.3% year-on-year rise.
December 16, 2019
Consumer prices fell 0.2% over the prior month in November, following October’s 0.4% increase.
November 29, 2019
The economy gained traction in the third quarter, according to detailed GDP data released by Croatia’s Statistical Institute (CBS) on 29 November.
November 29, 2019
In October, industrial production rose a meagre 0.3% in working-day adjusted terms over the same month last year, marking a deceleration from September’s 2.0% year-on-year upturn.