Croatia | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Croatia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Croatia economy.


Overview Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.60 0.5 0.6 0.7 0.6 0.5 percent [+]
Unemployment Rate 14.40 14.7 13.5 12.4 12.2 11.1 percent [+]
Inflation Rate 1.10 2.1 2.6 3 2.8 2.4 percent [+]
Interest Rate 2.50 2.25 2.25 2 2 1.5 percent [+]
Balance of Trade -3822.78 -4130 -4109 -4111 -4111 -4111 HRK Million [+]
Government Debt to GDP 84.20 82.8 82.8 82.8 80.5 75.4 percent [+]
MARKETS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Currency 6.83 7.01 7.08 7.29 7.22 8.33 [+]
Stock Market 1938.92 2020 2000 1940 1960 1630 points [+]
Government Bond 10Y 3.04 3.07 3.1 3.13 3.16 3.65 percent [+]
GDP Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
GDP Growth Rate 0.60 0.5 0.6 0.7 0.6 0.5 percent [+]
GDP Annual Growth Rate 3.40 2.6 2.3 2.2 2.3 2.6 percent [+]
GDP 48.73 54.14 47.43 56.69 44.95 66.64 USD Billion [+]
GDP Constant Prices 82959.00 78270 78007 78062 78051 78053 HRK Million [+]
Gross Fixed Capital Formation 16983.00 18721 18351 17477 16663 17985 HRK Million [+]
GDP per capita 13875.70 13768 13855 13941 13938 14108 USD [+]
GDP per capita PPP 20663.93 20504 20633 20761 20757 21009 USD [+]
GDP From Agriculture 3190.00 2846 2845 2845 2845 2845 HRK Million [+]
GDP From Construction 3615.00 3719 3707 3733 3616 3876 HRK Million [+]
GDP From Manufacturing 11074.00 10918 10676 11235 10514 11180 HRK Million [+]
GDP From Public Administration 11060.00 11221 11166 11120 11179 11192 HRK Million [+]
GDP From Services 13420.00 14720 14730 14731 14731 14731 HRK Million [+]
LABOUR Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Unemployment Rate 14.40 14.7 13.5 12.4 12.2 11.1 percent [+]
Employed Persons 1579.00 1613 1613 1579 1584 1592 Thousand [+]
Unemployed Persons 224068.00 194219 203040 220423 216313 211544 [+]
Long Term Unemployment Rate 5.40 6.02 6.47 5.95 5.95 5.59 percent [+]
Youth Unemployment Rate 28.80 27.3 26.74 26.28 25.91 24.37 percent [+]
Productivity 101.60 103 103 103 103 103 Index Points [+]
Labour Costs 88.70 93.95 83.46 87.33 95.04 86.21 Index Points [+]
Job Vacancies 8676.00 11050 11050 11050 11050 11050 [+]
Wages 5894.00 5888 5888 5888 5888 5888 HRK/Month [+]
Wages in Manufacturing 5270.00 5247 5225 5240 5235 5236 HRK/Month [+]
Minimum Wages 433.35 410 434 414 438 423 EUR/Month [+]
Population 4.19 4.2 4.19 4.18 4.18 4.16 Million [+]
Retirement Age Women 61.90 61.9 61.9 61.9 62.15 62.54 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change -0.10 -0.1 -0.09 0 -0.01 -0.04 percent [+]
Employment Rate 58.40 58.12 58.49 57.11 57.09 57.78 percent [+]
Full Time Employment 1481.40 1494 1506 1485 1476 1488 Thousand [+]
Labor Force Participation Rate 51.30 51.37 51.27 51.26 51.27 51.28 percent [+]
Part Time Employment 76.40 90.27 85.24 80.06 85.44 84.71 Thousand [+]
PRICES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Inflation Rate 1.10 2.1 2.6 3 2.8 2.4 percent [+]
Inflation Rate Mom 0.30 0.4 0.05 0.5 0.04 0.5 percent [+]
Consumer Price Index CPI 99.90 99.91 100 100 100 101 Index Points [+]
Core Consumer Prices 100.80 101 101 101 102 103 Index Points [+]
Core Inflation Rate 1.20 1.14 1.23 1.27 1.3 1.32 percent [+]
Producer Prices 102.60 105 106 108 110 134 Index Points [+]
Food Inflation 3.50 3.92 4.22 4.36 4.43 4.49 percent [+]
Cpi Transportation 99.20 98.42 98.94 98.91 98.9 98.95 Index Points [+]
Harmonised Consumer Prices 99.92 100 100 101 101 103 Index Points [+]
Producer Prices Change 1.20 1.8 2.5 3.2 3 2.2 percent [+]
MONEY Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Interest Rate 2.50 2.25 2.25 2 2 1.5 percent [+]
Interbank Rate 0.34 0.31 0.31 0.31 0.31 0.31 percent [+]
Money Supply M0 22127.50 22288 22274 22258 22261 22263 HRK Million [+]
Money Supply M1 82607.40 82653 82595 82613 82612 82612 HRK Million [+]
Foreign Exchange Reserves 14130.28 14135 14016 14092 14042 14062 EUR Million [+]
Banks Balance Sheet 393044.00 395798 398451 401080 403689 431047 HRK Million [+]
Loans to Private Sector 30945.50 29995 29375 28820 28324 25346 HRK Million [+]
Deposit Interest Rate 0.00 0 0 0 0 0 percent [+]
Cash Reserve Ratio 12.00 11.86 11.83 11.81 11.79 11.63 percent [+]
Central Bank Balance Sheet 112247.87 111338 110807 111069 110941 110983 HRK Million [+]
TRADE Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Balance of Trade -3822.78 -4130 -4109 -4111 -4111 -4111 HRK Million [+]
Exports 7947.68 8069 8055 8064 8062 8062 HRK Million [+]
Imports 11770.46 12036 11994 12023 12025 12028 HRK Million [+]
Current Account -696.50 66.22 78.84 77.32 77.5 77.48 EUR Million [+]
Current Account to GDP 4.20 3.9 2.44 2.9 2.95 2.96 percent [+]
External Debt 43924.72 41913 41990 41603 41862 41583 EUR Million [+]
Capital Flows -162.90 749 2095 -64.11 -818 126 EUR Million [+]
Remittances 471.30 622 532 623 557 667 EUR Million [+]
Tourist Arrivals 125158.00 1353075 989936 868990 1016254 982140 [+]
Gold Reserves 13.13 13.13 13.13 13.13 13.13 13.13 Tonnes [+]
Crude Oil Production 13.00 13.19 13.2 13.2 13.2 13.2 BBL/D/1K [+]
Foreign Direct Investment 589.20 231 233 251 246 244 EUR Million [+]
Terrorism Index 0.06 0.46 0.43 0.4 0.42 0.28 [+]
GOVERNMENT Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Government Debt to GDP 84.20 82.8 82.8 82.8 80.5 75.4 percent [+]
Government Budget -0.80 -0.4 -0.4 -0.4 -0.2 0.4 percent of GDP [+]
Government Budget Value -2042.30 -449 -579 -603 -607 -607 HRK Million [+]
Government Spending 16883.00 16865 16198 16871 16186 16840 HRK Million [+]
Government Spending to GDP 48.40 48.1 47.58 47.05 47.24 48.4 percent [+]
Government Revenues 7835.80 9236 9232 9226 9225 9225 HRK Million [+]
Government Debt 289110.90 291610 292300 292967 293610 299372 HRK Million [+]
Fiscal Expenditure 9924.90 9867 9830 9853 9856 9858 HRK Million [+]
Asylum Applications 175.00 270 449 345 472 531 persons [+]
Military Expenditure 904.40 913 917 921 930 1086 USD Million [+]
BUSINESS Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Industrial Production 2.30 4.8 3.6 3.9 4.43 1.8 percent [+]
Industrial Production Mom -1.50 -0.55 -0.05 0.27 0.39 0.29 percent [+]
Manufacturing Production 1.60 4.76 3.07 3.74 3.75 3.73 percent [+]
Changes in Inventories 1028.80 595 595 595 595 595 HRK Million [+]
Car Registrations 5355.00 3445 2349 2925 3028 2912 Cars [+]
Business Confidence 12.80 4.3 14.86 -2 15.48 -5 [+]
Competitiveness Index 4.15 4.13 4.13 4.13 4.12 4.14 Points [+]
Competitiveness Rank 74.00 70 70 70 80 78 [+]
Ease of Doing Business 43.00 49 49 50 40 7 [+]
Electricity Production 1250.00 1015 1022 1062 1070 1059 Gigawatt-hour [+]
Corruption Index 49.00 51 50 49 50 54 Points [+]
Corruption Rank 55.00 53 56 58 57 56 [+]
Steel Production 0.01 2.74 3.82 4.54 5.02 5.97 Thousand Tonnes [+]
Mining Production -10.10 -7.52 -7.92 -8.03 -7.98 -7.95 percent [+]
CONSUMER Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Retail Sales MoM 3.60 0.3 0.6 1.2 0.36 1.1 percent [+]
Retail Sales YoY 5.70 3 4.85 2.4 4.87 1.5 percent [+]
Consumer Spending 49841.00 49101 46129 49358 46347 49271 HRK Million [+]
Personal Savings 11.49 11.66 15.46 10.89 12.1 11.74 percent [+]
Consumer Credit 50034.90 50096 50097 50097 50097 50097 HRK Million [+]
Bank Lending Rate 4.74 4.8 4.8 4.8 4.79 4.79 percent [+]
Consumer Confidence -14.70 -19.8 -14.98 -16.4 -15 -13.9 [+]
Gasoline Prices 1.34 1.3 1.31 1.31 1.31 1.31 USD/Liter [+]
Households Debt To Income 60.29 59.96 60.05 60.15 60.12 60.42 percent [+]
HOUSING Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Home Ownership Rate 90.50 88.51 87.52 86.53 88.16 87.66 percent [+]
Housing Index 91.20 91.49 91.42 91.6 91.43 91.56 Index Points [+]
TAXES Actual Q2/17 Q3/17 Q4/17 Q1/18 2020
Corporate Tax Rate 18.00 20 20 20 18 18 percent [+]
Personal Income Tax Rate 47.20 47.16 47.16 47.16 47.15 47.08 percent [+]
Sales Tax Rate 25.00 25 25 25 25 25 percent [+]
Social Security Rate 37.20 36.2 35.7 35.2 35.2 37.2 percent [+]
Social Security Rate For Companies 17.20 16.2 15.7 15.2 15.2 17.2 percent [+]
Social Security Rate For Employees 20.00 20 20 20 20 20 percent [+]