The Croatian economy emerged from recession after six years of downturn. In accordance with the National Bureau of Statistics (DZS), Croatia's Gross Domestic Product (GDP) in the first quarter of 2015 went up 0.5% in comparison with the same quarter in 2014. This is the second quarter in a row that GDP has grown, after increasing by 0.3% in the final quarter of 2014.
The DZS report confirmed GDP growth was fuelled by domestic demand and retail sales that had been growing for eight months in a row. The growth was also influenced by a rise in net foreign demand. In the first quarter of 2015, Croatia's exports totalled HRK 19.3 billion, a rise of 7.5% compared to Q1 2014. The rise was on the back of the accelerated growth of the economy in the European Union, Croatia's biggest trading partner. Relatedly, Croatia's industrial production increased 0.3% in Q1 2015.
Contact:
Jelena Bilusic
Relationship Manager Global Securities Services Croatia
jelena.bilusic@unicreditgroup.zaba.hr