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Croatia GDP Q4 2021

Croatia: Economy records slowest increase since Q1 2021 in the fourth quarter

GDP growth moderated to 9.7% year-on-year in the fourth quarter, from 15.8% in the third quarter. Q4’s reading marked the softest expansion since Q1.

The downturn was driven by weakening private consumption, fixed investment and exports. Private consumption growth fell to 7.7% in Q4, marking the weakest expansion since Q1 2021 (Q3: +16.0% yoy). Meanwhile, fixed investment growth fell to 0.8% in Q4, marking the worst result since Q4 2020 (Q3: +7.6% yoy). Public consumption grew at the fastest pace on record, expanding 14.0% (Q3: -4.5% yoy).

Exports of goods and services increased 31.7% on an annual basis in the fourth quarter, which was below the third quarter’s 48.8% expansion. Conversely, imports of goods and services growth sped up to 16.4% in Q4 (Q3: +13.9% yoy).

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