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Nov 29, 2017 12:35 EEST
November 29 (SeeNews) - Croatia's annual gross domestic product (GDP) growth picked up to 3.3% in the third quarter from a revised increase of 3.0% 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 3.2% year-on-year and by 0.9% quarter-on-quarter, following a yearly growth rate of 3.6% and an identical quarter-on-quarter growth in the second quarter of 2017, the Croatian Bureau of Statistics said in a statement.
The largest contribution to GDP growth in the third quarter of 2017 came from exports of goods and services which rose by a real 5.7% on the year in Q3 2017, slowing down from a 6.5% increase in the second quarter.
The growth of household consumption remained unchanged from the previous quarter at 3.7%, while the growth of general government expenditure edged up to 2.3% from 1.7%.
Final consumption expenditure rose by 3.3% in the third quarter, slightly up from 3.2% in the second quarter of 2017, while the growth of gross fixed capital formation edged up to 3.4% from 3.3%.
By industry, wholesale and retail trade achieved the highest growth rate in the third quarter, of 5.2%, up from 5.0% in the second quarter of 2017.
Gross domestic product, according to expenditure approach, real growth rates:
Detailed Q3 GDP data will be released on December 1, the statistical office added.
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