Economic Growth in Croatia
The economy expanded 4.0% annually in Q4, down from Q3’s 5.2% amid slower growth in private consumption and exports. Looking at Q1 2023, the overall economic picture is relatively positive. Compared with the preceding quarter, consumer confidence improved and inflation ebbed, while in January–February, the unemployment rate dropped and real wages rose year on year; this data bodes well for private spending in the first quarter. Moreover, business sentiment was firmly in positive territory through March. Less positively, industrial production continued to decline in annual terms in January–February. In other news, in April, Fitch Ratings confirmed Croatia’s sovereign rating at ‘BBB+’. Underpinning the rating were eurozone membership and high GDP per capita, set against elevated public debt and weak structural reform progress.
Croatia Economic Growth Chart
This chart displays Economic Growth (Nominal GDP, ann. var. %) for Croatia from 2013 to 2022.
Croatia Economic Growth Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Economic Growth (Nominal GDP, ann. var. %) | 4.6 | 4.9 | 5.5 | -7.9 | 15.4 |