May 31 (SeeNews) - Croatia's economic output shrank by a real 0.7% year-on-year in the first quarter of 2021, the statistical office said.
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.