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Croatia Tops EU in GDP Growth in Third Quarter

Written by  Nov 29, 2023

In a statement on Tuesday, Prime Minister Andrej Plenković announced that Croatia is currently leading the European Union (EU) in GDP growth for the third quarter, affirming the government's sound decisions in times of crises.

According to the initial assessment from the State Bureau of Statistics, Croatia's GDP has experienced a real growth of 2.8% in the third quarter of this year compared to the same quarter in 2022. The government's press release highlighted that this marks the 11th consecutive quarter with a positive GDP growth rate.

"The strength of the economic recovery post-pandemic is evident from the fact that the GDP in the third quarter of this year is realistically 13% higher than in the pre-pandemic third quarter of 2019," emphasized the government. They added that the most significant contributors to GDP growth were the continued rise in household consumption by three percent and the accelerating growth of investments in fixed capital, reaching 6.1%.

According to seasonally adjusted data from the State Bureau of Statistics, the Croatian economy grew by 3% on an annual basis and 0.3% on a quarterly basis in the third quarter. Eurostat has already released data on the movement of seasonally adjusted GDP growth rates in the third quarter for 23 EU member states, with Croatia leading with a growth rate of three percent. Cyprus follows, with its economy growing by 2.2% in the third quarter compared to the same quarter last year, and then Romania with 2.1%.

"Compared to current data for 23 EU member states, Croatia records the highest growth rate in the EU in the third quarter of this year. Croatian entrepreneurs and workers, along with the government's strong interventions in the face of numerous crises aimed at preserving social cohesion, have contributed to this," stated Prime Minister Andrej Plenković.


The Voice of Dubrovnik


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