This is a slightly higher rate of growth than in the previous quarter, when growth stood at 2.4 percent.
According to the first estimates from the State Statistics Bureau, Croatia's GDP in the third quarter of this year grew by 2.9% annually. Consumer spending and the export of goods and services continue to be the strongest driving force behind the growth. This marks the 21st consecutive quarter in which Croatia registered GDP growth.
Deputy Prime Minister and Finance Minister Zdravko Marić said that the factors driving the growth are solid and well grounded: "A continued strong contribution from domestic demand, consumer spending and investment. At 5% investment in the third quarter was slightly slower than the 8% in the second quarter, but still quite strong growth. What is nice to see is growth in the export of goods and services, especially the export of goods."
According to seasonally adjusted data, GDP strengthened by 0.8% in the third quarter compared to the previous quarter, while it grew by 2.8% year-on-year.
This is higher growth than the EU average. Recently, Eurostat announced that the EU economy grew 1.3% year-on-year in the third quarter. On a quarterly basis, the EU economy saw growth of 0.3%.
- Government cabinet proposes law on National Bank in preparation for Euro
- Marin Čilić advances to final 16 of Australian Open
- US official warns Croatia to be wary of whom it sources equipment from for 5G network
- Meeting of EU justice ministers held in Zagreb
- Minister of health has no intention of resigning over asset card affair
- Grabar Kitarović emphasizes the importance of The Three Seas Initiative