August 29 (SeeNews) - Croatia's annual gross domestic product (GDP) growth picked up to a real 2.9% in the second quarter from 2.5% in the preceding quarter, a flash estimate of the country's statistical office showed on Wednesday.
On a seasonally adjusted basis, Croatia's economy expanded by 2.8% year-on-year and by 1.1% quarter-on-quarter, following a 2.6% yearly growth rate and a 0.8% quarter-on-quarter growth in the first quarter of 2018, the Croatian Bureau of Statistics said in a statement.
The largest positive contribution to GDP expansion in the second quarter of 2018 came from an increase in the export of goods and services, the statistical office said in a statement.
Exports of goods and services rose 5.6% in the second quarter, after narrowing 0.5% in the quarter earlier. Exports of goods alone increased 7.1% from April to June, after contracting 1.5% in January to March, while services expanded 4.3% from 2.1% growth in the previous quarter.
Gross domestic product, according to the expenditure approach, real growth rates:
|
Q2'18 |
Q1'18 |
Q2'17 |
Final consumption expenditure |
3.3 |
3.6 |
3.4 |
- Households |
3.6 |
3.9 |
3.8 |
- Non-profit institutions serving households |
2.7 |
4.3 |
3.1 |
- General govt |
2.5 |
2.8 |
2.3 |
Gross fixed capital formation |
3.1 |
3.6 |
3.7 |
Exports of goods and services |
5.6 |
-0.5 |
7.0 |
- Goods |
7.1 |
-1.5 |
5.5 |
- Services |
4.3 |
2.1 |
9.2 |
Imports of goods and services |
4.7 |
5.5 |
6.1 |
- Goods |
2.9 |
4.5 |
5.5 |
- Services |
13.9 |
11.2 |
9.6 |
Real GDP |
2.9 |
2.5 |
3.2 |
The statistics office said it will publish detailed first-quarter GDP data on August 31.