Thanks to the growth in consumption and investments, the Croatian economy has grown in the third quarter of this year for the 11th consecutive quarter, by 2.8 percent on an annual basis, faster than in the previous quarter.
The State Bureau of Statistics (DZS) released on Tuesday the first estimate according to which the gross domestic product (GDP) in the third quarter has actually increased by 2.8 percent compared to the same period last year.
This is faster growth than in the second quarter of this year when the GDP increased by 2.6 percent. It is already the 11th consecutive quarter of economic growth.
Faster growth than the EU average
According to seasonally adjusted DZS data, the economy grew by 3 percent on an annual basis in the third quarter, and 0.3 percent on a quarterly basis.
Thus, the growth of the domestic economy is faster compared to the EU average.
Eurostat recently announced that in the past quarter, the economy of the EU, according to seasonally adjusted data, stagnated compared to the previous quarter, while it increased by 0.1 percent on an annual basis.
The economy of the Eurozone, on the other hand, fell by 0.1 percent on a quarterly basis in the third quarter and increased by 0.1 percent on an annual basis.
