Croatia GDP Grows 4.3% y.o.y. in Q4 2023
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Croatia's gross domestic product (GDP) expanded by 4.3% year-on-year in the fourth quarter of 2023, following a 2.8% advance in the previous quarter, figures from the Zagreb-based Croatian Bureau of Statistics (Crostat) on Tuesday show.
This marks the highest GDP growth since the third quarter of 2022, mainly due to an acceleration in household consumption (5.3% vs 3% in Q3). Conversely, government consumption increased at a slower pace (0.2% vs 2.1%), as well as gross fixed capital formation (6% vs 6.1%).
On the external demand, imports declined 7.1% (vs -12.1%) while exports fell at a softer 4.4% (vs -8.5%).
On a seasonally adjusted quarterly basis, the country's GDP expanded 1.3%, following an upwardly revised 0.5% rise in the previous quarter.
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