Croatia’s economy continues on its path of recovery, with GDP up by an estimated 2.5% in 2016. Growth is backed by a rise in domestic demand, both household consumption and investments. Investments fuelled by EU-funding and continued private consumption recovery should help to stimulate more robust GDP growth over the biennium 2017-2018. Fiscal consolidation coupled with high public debt will remain the main challenges to sustainable growth.
|Main Economic Indicators||2014||2015||2016||2017||2018||2019|
|Population, 1000 persons.||4236||4208||4190||.||.||.|
|GDP, real change in %||-0.5||1.6||2.8||2.7||2.8||.|
|GDP per capita (EUR at PPP)||16100||16700||17400||.||.||.|
|Gross industrial production, real change in %||1.2||2.7||5.4||.||.||.|
|Unemployment rate - LFS, in %, average||17.3||16.3||12.8||14.0||13.0||.|
|Average gross monthly wages, EUR||1042||1058||1035||.||.||.|
|Consumer prices, % p.a.||0.2||-0.3||-0.6||1.0||1.0||.|
|Fiscal balance in % of GDP||-5.4||-3.3||-2.5||.||.||.|
|Public debt in % of GDP||86.6||86.7||85.0||.||.||.|
|Current account in % of GDP||2.1||5.1||3.7||1.9||1.5||.|
|FDI inflow, EUR mn||2281||187||1200||.||.||.|
|Gross external debt in % of GDP||108.0||103.5||93.8||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
CROATIA: Economy back on a more stable growth path
in: Labour Shortages Driving Economic Growth?
wiiw Forecast Report No. Autumn 2016, November 2016 , pp. 58-61 Details and Buy
Monthly Report No. 7-8/2016
Vasily Astrov, Serkan Çiçek, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Simona Jokubauskaite, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July-August 2016
25 pages including 1 Table and 1 Figure