May 29 (SeeNews) - Croatia's economic output increased by a real 2.8% year-on-year in the first quarter of 2023, after growing by an annual 3.5% in the fourth quarter of last year, the statistical office said on Monday, quoting non-adjusted data.
In seasonally adjusted terms, gross domestic product (GDP) grew by 1.4% in the first three months of 2023 compared to the previous quarter and by 2.6% compared to the first quarter of 2022, the statistical office said in a first estimate of Croatia's economic performance in the January-March period.
The first estimate shows that the quarterly gross value added increased in real terms by 2.8% in the first quarter of 2023, as compared to the same period in 2022, based on non-adjusted data, on the back of a significant increase in real value added of service activities.
Croatia's economic output expanded by a real 6.3% last year, according to data released earlier by the statistical office.