Croatia GDP Annual Growth Rate

Last Release

Sep 30, 2024

Actual

3.9

Units In

3.3

Frequency

Quarterly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
16.5 Jun 2021	-14.4 Jun 2020	2.38 %	1996-2024	Croatian Bureau of Statistics

Croatia joined the European Union in 2013, following a decade-long application process. Croatia's main industries are tourism, ICT, automotive, food, pharmaceutical, logistics, metal and textile. On the expenditure side, household consumption is the main component of GDP and accounts for 60 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (19 percent). Exports of goods and services account for 46 percent of GDP while imports account for 44 percent, adding 2 percent of total GDP.

Latest Updates

Croatia's economy grew by 3.9% year-on-year in Q3 2024, up from a revised 3.5% expansion in Q2, according to preliminary estimates. Government spending accelerated (5.3% vs. 3.8% in Q2), and net external demand supported GDP growth as exports of goods and services rebounded (1.5% vs. -1.3%) while imports increased at a slower pace (4.1% vs. 5.2%). However, household consumption (5.5% vs. 6%) and gross fixed capital formation (9.2% vs. 11.7%) grew at a slower rate. On a seasonally adjusted quarterly basis, GDP rose by 0.8% in Q3, following a 1% increase in the previous quarter.