Croatian GDP increased 5,8% in Q1-2021

Croatian GDP increased 5,8% in Q1-2021

Eurostat's latest publication shows that Croatia had the second highest growth of GDP (5,8%) in the Q1 of 2021. Ireland took the first place with 7,8% increase.

Greatest decline was recorded in Portugal (-3,3%) and Slovakia (-2%). Looking at the entire EU-27 in first quarter of 2021, GDP fell by -0,1% after it had strongly recovered by 11,7% in the last quarter of 2020.

Such statistics for Croatia were expected as the Government supported the economy during pandemics, keeping the trading balance in surplus. Even the export of industrial commodities ended the 2020 well enough, while the import balance had been reduced.

Following the kick start of summer season, cheap loans and inflation expectations, we can easily conclude that 2021 will end as a good year for the coastal property market.

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