Croatia Economy Loses Steam in Q3

Figures

Photo by Dziewul / Shutterstock.com

Croatia's economy expanded by 5.2% year-on-year in real terms in the third quarter, following annual growth of 8.7% in the second quarter and a 16.7% increase in the third quarter of last year, the Zagreb-based Croatian Bureau of Statistics (Crostat) said on Friday, quoting non-adjusted data.

This marks the weakest expansion since the first quarter of 2021, amid a slowdown in household consumption (5.6% vs 7.8% in Q2).

Additionally, the contribution of net external was slightly negative, as imports jumped 30.5% (vs 26.5% in Q2) while exports advanced at a slower 23.3% (vs 40.3% in Q2).

On the other hand, fixed investment picked up (8% vs 3.9%) and government spending rebounded (1.3% vs -2.2%).

On a seasonally adjusted quarterly basis, the country's gross domestic product (GDP) shrank by 0.4% in the third quarter, the first contraction since the second quarter of 2020, after a downwardly revised 1.5% rise in the prior quarter.

ADVERTISEMENT

Loan Officers Survey Indicates Increased Caution Banking

Loan Officers Survey Indicates Increased Caution

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021 Government

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021

Corvex Winds up Virtual Bank Card Project Fintech

Corvex Winds up Virtual Bank Card Project

European Capital of Culture Program Set to Boost Economy - N... Art

European Capital of Culture Program Set to Boost Economy - N...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.