Croatia GDP


Croatia: GDP drops at slower pace in Q1

June 10, 2013

In the first quarter, GDP contracted 1.5% over the same quarter last year, according to detailed figures released by the Croatian Bureau of Statistics on 10 June. The result, which was in line with the 29 May flash estimate, marks an improvement over the 2.3% contraction tallied in the previous quarter but represents, nonetheless, a sixth consecutive quarter of declining economic activity.

Domestic demand drove the improvement witnessed in the first quarter, whereas the external sector deteriorated compared to the previous quarter. Private consumption fell 3.0% over the same quarter the year before, up from the 4.2% decline observed in the previous quarter, while government spending expanded 0.3% (Q4 2012: -2.0% year-on-year). Moreover, gross fixed capital formation fell 2.3%, which marks an improvement compared to the 4.9% drop seen in Q4.

On the external side of the economy, exports of goods and services fell 4.9% in the first quarter, contrasting the 3.2% rise seen in Q4, while imports contracted 5.6% (Q4: -1.6% yoy). As a result, the external sector's net contribution to overall economic growth fell from 1.6 percentage points in the fourth quarter to 0.8 percentage points in the first.

FocusEconomics Consensus Forecast panellists anticipate inflation will end 2013 at 2.9%, which is up 0.3 percentage points from last month's forecast. In 2014, the panel sees inflation at 2.5%.

Author:, Head of Data Solutions

Sample Report

Looking for forecasts related to GDP in Croatia? Download a sample report now.


Croatia GDP Chart

Croatia GDP Q1 2013

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

Croatia Economic News

  • Croatia: Stronger fixed investment and solid household spending underpin growth in Q3

    December 1, 2017

    The economy gained traction in the third quarter of 2017, supported by a surge in fixed investment and solid household spending, despite the uncertainty still surrounding the restructuring of Croatia’s largest private company, food giant Agrokor.

    Read more

  • Croatia: Industrial production growth slows in October

    November 29, 2017

    Industrial output in October increased 4.3% in working-day adjusted terms from the same month last year, following September’s softer 3.0% expansion. October’s result was pushed-up by a remarkable expansion in manufacturing sector: Manufacture of wood and wood products, as well as of refined petroleum products and of food products recorded particularly high growth rates.

    Read more

  • Croatia: Inflation stable in October

    November 16, 2017

    In October, consumer prices increased 0.4% from the previous month, following September’s over five-year high of 1.5% increase.

    Read more

  • Croatia: Industrial production growth slows in September

    October 30, 2017

    Industrial output in September increased 3.0% in working-day adjusted terms from the same month last year, following August’s slightly stronger 3.2% expansion. September’s result was pushed-up by a faster expansion in the electricity, gas, steam, and air conditioning supply sub-sector, and by a turnaround in the mining and quarrying sub-sector, while growth in the manufacturing sector slowed considerably from August, weighing on the final result. On a month-on-month basis, industrial production in September expanded 1.4% in seasonally- and working-day adjusted terms, following August’s much softer 0.3% uptick.

    Read more

  • Croatia: Inflation continues to climb in September

    October 23, 2017

    In September, consumer prices increased 1.5% from the previous month, following August’s flat result and marking the highest reading since May 2012.

    Read more

More news

Search form