Croatia's GDP grew by 2.6% in 2023 - think tank

GDP in the fourth quarter of 2023, compared to the same quarter in 2022, rose by 3.2%, which is the highest annual GDP growth rate recorded in any quarter of 2023, EIZ added. When observing seasonally adjusted data, according to its estimates, GDP in the fourth quarter of 2023 stagnated compared to the previous quarter.

The EIZ' estimate is based on the EIZ Coincident Economic Index (CEIZ), which in December 2023 increased by 1.34 index points compared to the same month in 2022. Compared to November 2023, the index value decreased by 0.16 points.

When observing individual index components, three index components recorded a higher value in December 2023 compared to December 2022: number of tourist arrivals, state budget income from value added tax (VAT), and real retail trade, while industrial production recorded a lower value.

Compared to November 2023, the seasonally adjusted value of industrial production and state budget income from VAT decreased in December, while the remaining two index components recorded higher monthly seasonally adjusted values.

Croatia’s statistical office will release GDP growth estimate for the fourth quarter of 2023 on February 27.

Croatia's economic output grew by a real 6.3 % year-on-year in 2022.