Croatia’s GDP Growth Slows Down Dramatically

ZAGREB, February 28, 2018 – A preliminary report by the national statistical office shows that in the fourth quarter of 2017 Croatia’s GDP grew by 2% from the same period of 2016, which is a significantly lower rate than in the previous quarter and lower than expected.

The fourth quarter of last year was the 14th consecutive quarter to see GDP grow, even though the growth rate was lower than in Q3, when the economy grew by 3.3%.

Eight economic analysts polled by Hina had predicted an average annual GDP growth rate of 2.7%, with their estimates ranging from 2.1% to 3.2%.

The biggest positive contribution to GDP growth in Q4 2017 was made by growing household consumption spending. The contribution of domestic demand was positive while the contribution of foreign demand was negative.

According to seasonally adjusted data, GDP in Q4 grew 0.1% from the previous quarter, while compared to Q4 2016 it grew 2.2%.

In 2017 the national economy grew by 2.8%, less than in 2016, when the growth rate was 3.2%.

 

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