The drop, caused mainly by restrictive measures to combat the COVID-19 outbreak, is the largest one since the time series started in 1995. The biggest decline was recorded in tourism, which shrank by 67.4%.
Household consumption dropped by 14%, exports of goods and services decreased by 40%, and imports of goods and services shrank by 28.1%.
In the first quarter, Croatia managed to avoid an economic downturn, with its GDP shrinking by 0.4%.
On a seasonally adjusted quarterly basis, the GDP contracted by a record 14.9%, following an upwardly revised 1.3% decline in Q1.
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