Croatia

After 2015, Croatia witnessed an economic recovery; however, the COVID-19 pandemic stopped it in its tracks. GDP contracted by 8.4% in 2020, due largely to the pandemic’s devastating impact on the tourism sector, but also because the country was rocked by two earthquakes in March and December. EU aid will likely mitigate the earthquakes’ adverse effects on Croatia’s economic recovery, which is why we expect solid growth of 4.5% in 2021.

map Croatia
        FORECAST*
Main Economic Indicators201820192020202120222023
Population, 1000 persons409140674000...
GDP, real change in %2.82.9-8.04.54.63.7
GDP per capita (EUR at PPP)193502030019040...
Gross industrial production, real change in %-1.00.6-2.7...
Unemployment rate - LFS, in %, average8.56.67.57.07.07.0
Average gross monthly wages, EUR113911821223...
Consumer prices, % p.a.1.60.80.01.01.41.5
Fiscal balance in % of GDP0.20.3-7.4...
Public debt in % of GDP74.372.888.7...
Current account in % of GDP1.82.7-1.10.21.01.5
FDI inflow, EUR m105712761277...
Gross external debt in % of GDP82.275.482.4...


Basic data are continuously updated.

* Forecasts are changed beginning of April, July and November.
See Press Conferences.

publication_icon

CROATIA: EU funds will support recovery

Bernd Christoph Ströhm
in: Darkest before the dawn?
wiiw Forecast Report No. Spring 2021, April 2021 , pp. 60-63
Details and Buy

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Monthly Report No. 5/2020

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Richard Grieveson, Doris Hanzl-Weiss, Gabor Hunya, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Leon Podkaminer, Sandor Richter, Bernd Christoph Ströhm and Hermine Vidovic
wiiw Monthly Report No. 5, May 2020
96 pages including 27 Tables and 39 Figures

Details


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