POST Online Media Lite Edition


Croatia's GDP fell by a record 15.1 percent

Christian Fernsby |
Croatian economy fell 15.1 percent in the second quarter compared to the same period last year, its biggest drop since the data was taken, as a result of the coronavirus crisis.

Article continues below

Topics: CROATIA   

The Central Bureau of Statistics (CBS) released the first estimate that gross domestic product (GDP) fell 15.1 percent year-on-year in the past quarter, its first drop since mid-2014.

This is the biggest drop since 1995. The biggest drop of 8.8 percent so far was recorded in the first quarter of 2009, at the beginning of the global financial crisis.

According to CBS data released, household consumption sank 14 percent last quarter from a year earlier.

Gross fixed capital formation fell 14.7 percent year-on-year.

In the second quarter, only government spending rose 0.7 percent year-on-year.

What to read next

IMF expects Croatia's GDP to shrink 9 percent in 2020
Euro area international trade in goods surplus €21.2 bn
Croatia expects up to 40 percent revenue drop over coronavirus