ZAGREB, March 7, 2018 – Croatia and Greece recorded the lowest GDP growths in the European Union during the fourth quarter of 2017, compared with the previous quarter, Eurostat said on Wednesday.
Croatia’s GDP in Q4 2017 increased 0.1% from Q3, which saw a quarterly increase of 0.7%. Greece also recorded a 0.1% quarterly increase in Q4, followed by Italy and Latvia (both +0.3%). Estonia (+2.2%), Slovenia (+2.0%) and Lithuania (+1.4%) recorded the highest growth compared with Q3 2017.
Compared with the same quarter of the previous year, the strongest increases in Q4 2017 were recorded by Romania (+7%), Slovenia (+6.2%), Estonia (+5.3%), the Czech Republic (+5.2%) and Hungary (+4.9%). The lowest were recorded by Denmark (+1.2%) and the UK (+1.4%).
Seasonally adjusted GDP rose by 0.6% in the EU28 during the fourth quarter of 2017, compared with the previous quarter. In the third quarter of 2017, GDP grew by 0.7%.
All GDP components had a positive contribution to GDP growth except inventories. During the fourth quarter of 2017, exports rose by 1.7% in the EU28 (and +1.3%). Imports increased by 1.3% (after +0.6%). Household final consumption expenditure rose by 0.3% (after +0.4% in the previous quarter).
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.6% in the EU28 in the fourth quarter of 2017, after +2.7% in the previous quarter.
Over the whole year 2017, GDP rose by 2.4% in the EU28, compared with 2.0% in 2016.
