Croatia GDP Annual Growth Rate

Last Release

Dec 31, 2024

Actual

3.7

Units In

3.9

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	2.4 %	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 expanded by 3.7% year-on-year in the last quarter of 2024, slightly down from the 3.9% growth observed in the preceding period. Net external demand had a negative impact on GDP, as exports (4.7% vs 1.5% in Q3) increased less than imports (9.9% vs 4.1%). Meanwhile, both household consumption (6.3% vs 5.5%) and government spending (7.1% vs 5.3%) saw a notable rise. Gross fixed capital formation also picked up (9.5% vs 9.2%). On a seasonally adjusted quarterly basis, GDP rose by 1.4% in the December quarter, following a 0.4% growth in the previous quarter.