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Croatia records highest quarterly GDP growth since 1996

Christian Fernsby |
Croatia's gross domestic product (GDP) increased by 16.1 percent in the second quarter of 2021, as compared to the same period last year, the Croatian Bureau of Statistics announced on Friday.

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The biggest increase since 1996 was caused by the major drop of the country's GDP in the second quarter of 2020 (14.4 percent), and the increase in consumption and in exports of goods and services.

Households consumption in the second quarter was 18.4 percent higher than in the same period last year, and export of goods and services was 40.9 percent higher.

Croatian Prime Minister Andrej Plenkovic said on Friday that the GDP growth shows that the economy is recovering faster than expected.

According to the government, Croatia has recorded 7.7 percent GDP growth in the first half this year compared to the same period in 2020, when the economy contracted by 8 percent.

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