Croatia’s GDP up 2.5% y/y in 4Q19 first release shows

Croatia’s GDP up 2.5% y/y in 4Q19 first release shows
Croatia’s quarterly GDP increased by 2.5% year-on-year in 4Q19 and 2.9% for the full year / bne IntelliNews
By bne IntelliNews March 3, 2020

Croatia’s quarterly GDP increased by 2.5% year-on-year in the final quarter of 2019, according to a first release from the Croatian Bureau of Statistics (DZS). For the full year, GDP in real terms increased by 2.9% in 2019.

This is close to the European Commission’s earlier estimate that Croatia’s economy grew by 3.0% y/y in 2019 as it rebounded from a weak 2018, driven particularly by domestic demand.

Seasonally adjusted quarterly GDP increased by 0.3% compared to the previous quarter in 4Q19, and by 2.7% in real terms compared to the same quarter of 2018, the DZS said.

According to the statistics office, the largest positive contribution to the GDP volume change in the fourth quarter of 2019 came from an increase in the final consumption expenditure of households and in exports of goods and services.

Meanwhile, quarterly gross value added (GVA) rose by 2.5% y/y in real terms in the fourth quarter of 2019, based on non-seasonally adjusted data, the first release showed.

 

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