Croatia GDP


Croatia: Pace of GDP contraction moderates in Q3

November 28, 2014

In the third quarter, GDP shrank 0.5% in annual terms, according to the preliminary estimate released by the Croatian Bureau of Statistics on 28 November. The print marked an improvement compared to Q2’s 0.8% drop and represented the softest pace of contraction since Q2 of last year. Imports mainly drove the contraction, whereas exports contributed positively to GDP growth. On the production side, manufacturing made the largest positive contribution to the result while a decrease was recorded in construction.

The Statistical Office will publish more detailed GDP data on 10 December.

The Central Bank expects the economy to contract 0.6% in 2014. FocusEconomics panelists expect GDP to contract 0.7% in 2014, which is unchanged from last month’s estimate. In 2015, the panel expects economic growth to expand 0.3%, which is down 0.1 percentage points over the previous month’s estimate.

Author: Teresa Kersting, Economist

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Croatia GDP Chart

Croatia GDP Q3 2014

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

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