February 26 (SeeNews) - Croatia's economic output declined by a real 8.4% last year, compared with 2019, the country's statistical office said on Friday.
The Adriatic country's gross domestic product (GDP) dropped by a real 7% year-on-year in the fourth quarter of 2020, after decreasing by an annual 10% in the previous quarter, the statistical office said in its first estimate of Croatia's economic performance in the fourth quarter of 2020.
In quarterly terms, Croatia's gross domestic product (GDP) grew by 2.7% in October-December period, after rising by 8.2% in July-September.
Household consumption fell by a real 4.5% on the year in the fourth quarter of 2020.
Exports dropped by 9.8% and imports fell by 7.6%.
Gross fixed capital formation increased by 4.2% year-on-year in the fourth quarter, while government expenditure rose by 1.6%.