Croatia GDP Growth Slows Down in Q1

Analysis

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Croatia's gross domestic product (GDP) expanded by 3.9% year-on-year in the first quarter of 2024, following an upwardly revised 4.4% growth in the previous three-month period, the Zagreb-based Croatian Bureau of Statistics (Crostat) said in a statement.

The economic slowdown was mainly attributed to the slower growth of government consumption (1% vs 4.6% in Q4 2023).

Conversely, both household consumption (6% vs 5.3%) and gross fixed capital formation (10.8% vs 6%) increased at a faster pace.

On the external demand, imports grew by 2.2% (vs -7.1), while exports fell by 2% (vs -4.4%).

On a seasonally adjusted quarterly basis, Croatia's GDP advanced by 1%, following an upwardly revised 2% rise in the previous quarter.

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