Croatia’s economy expanded by 3.7% year-on-year in the fourth quarter of 2024, slowing from 3.9% in the previous quarter, as household consumption and investment drove growth, the Croatian Bureau of Statistics (DZS) said on Thursday.
For the full year, gross domestic product (GDP) rose by 3.8% in real terms, marking the 16th consecutive quarter of expansion.
Household consumption, the largest component of GDP, grew by 6.3% year-on-year in the fourth quarter, accelerating from 5.5% in the previous three months. Gross fixed capital investment increased by 9.5%, up from 9.2% in the prior quarter, while government spending rose 7.1% after a 5.3% gain in Q3.
Imports of goods and services jumped 9.9% year-on-year, compared with 4.1% in the third quarter. Goods imports increased 8.8%, while services imports surged 14.9%.
Exports of goods and services grew 4.7% in Q4, accelerating from 1.5% in the previous quarter. Goods exports climbed 9.2%, while services exports edged up 0.1%.
According to DZS’s first estimate, Croatia’s GDP grew 3.8% for the whole of 2024.
Seasonally adjusted data showed Croatia’s economy expanded 3.6% year-on-year in Q4 and 1.4% from the previous quarter, significantly outpacing the EU average.
Eurostat data indicated the EU economy grew just 0.2% quarter-on-quarter and 1.1% year-on-year in Q4, while the eurozone economy expanded 0.1% and 0.9%, respectively. /BV
