Croatia's Q1 GDP falls 0.7% y/y, up 5.8% q/q - first estimate

Compared with the fourth quarter of last year, Croatia's gross domestic product (GDP) increased by 5.8% in the period January-March, the statistical office said in its first estimate of the country's economic performance in the first quarter of 2021 on Friday.

Household consumption was down by a real 0.4% on the year in the first quarter of 2021. Exports edged down by 0.9% and imports declined by 2.1%,

Gross fixed capital formation increased by an annual 4.6%, while government expenditure edged up 0.2% in January-March.

In October-December, Croatia's GDP shrank by a real 7.2% year-on-year. In quarterly comparison terms, economic output grew by 4.1%.

Croatia's economic output declined by a real 8.4% in 2020.