Thanks mostly to growth in personal consumption and investment, the Croatian economy grew by 3,4 percent annually in the second quarter, faster than in the previous quarter, it writes. N1.
The Central Bureau of Statistics (CBS) published the first estimate on Wednesday, according to which the gross domestic product (GDP) in the second quarter grew by 3,4 percent in real terms compared to the same period last year.
This is the 18th consecutive quarter that the economy has grown, and faster than in the previous quarter, when growth was 2,9 percent.
Consumption and investment growth
According to CBS data, household consumption, which is the largest component of GDP, grew by 4,0 percent annually in the past quarter, significantly faster than in the previous quarter, when growth was 1,7 percent.
Gross investments in fixed capital increased by 5,2 percent, faster than 4,5 percent in the previous quarter.
Government spending rose by 2,4 percent, after rising 5,8 percent in the previous quarter.
The import of goods and services increased by 3,3 percent, significantly less than the 8,8 percent in the previous quarter.
Imports of goods increased by 0,9 percent, and imports of services by 16,4 percent.
Exports of goods and services, however, grew by 1,6 percent year-on-year in the past quarter, significantly slower than the 6 percent growth in the previous quarter.
Exports of goods increased by 3,7 percent, while exports of services fell by 0,3 percent.
Source: N1
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