Croatia

map Croatia
The Croatian economy has made a full recovery from the COVID-19 pandemic, with GDP increasing by 10.4% year on year in 2021. However, Russia’s invasion of Ukraine has generated much uncertainty regarding Croatia’s growth prospects for 2022. The surging energy costs, which are serving to boost inflation, will put pressure on government spending plans and will slow private consumption in 2022. The spill-over effects of the war will also adversely affect Croatia’s summer tourist season, which is why we have adjusted the forecast for this year’s GDP growth downward to 3.5%.
        FORECAST*
Main Economic Indicators201920202021202220232024
Population, 1000 persons406740473899...
GDP, real change in %3.5-8.110.23.54.03.1
GDP per capita (EUR at PPP)207701923022540...
Gross industrial production, real change in %0.6-2.76.3...
Unemployment rate - LFS, in %, average6.67.57.77.16.46.5
Average gross monthly wages, EUR118212231275...
Consumer prices, % p.a.0.80.02.76.52.92.3
Fiscal balance in % of GDP0.2-7.3-2.9-3.5-2.7-2.5
Public debt in % of GDP71.187.379.8...
Current account in % of GDP3.0-0.13.21.11.81.5
FDI inflow, EUR m347810463436...
Gross external debt in % of GDP72.579.878.0...


Basic data are continuously updated.

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

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Executive summary

Vasily Astrov
in: Overshadowed by War and Sanctions
wiiw Forecast Report No. Spring 2022, April 2022 , pp. I-VII
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Monthly Report No. 1/2022

Vasily Astrov, Alexandra Bykova, Rumen Dobrinsky, Selena Duraković, Richard Grieveson, Doris Hanzl-Weiss, Marcus How, Gabor Hunya, Branimir Jovanović, Niko Korpar, Sebastian Leitner, Isilda Mara, Olga Pindyuk, Sandor Richter, Bernd Christoph Ströhm, Maryna Tverdostup, Nina Vujanović, Zuzana Zavarská and Adam Żurawski
wiiw Monthly Report No. 1, January 2022
58 pages including 4 Tables and 21 Figures

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