FIRST QUARTERLY GROSS DOMESTIC PRODUCT ESTIMATE,
FOURTH QUARTER OF 2023

The estimation of the gross domestic product (GDP) for the fourth quarter of 2023 is presented by major categories of expenditure and according to the NKD 2007 activity sections.

The quarterly GDP data focus on short-term movements of the economy, while the main purpose of the quarterly GDP estimate is the calculation of real growth rates.

The estimate shows that the quarterly GDP in real terms increased by 4.3% in the fourth quarter of 2023, as compared to the same quarter of 2022.

Seasonally adjusted quarterly GDP increased by 1.3% compared to the previous quarter and by 4.3% in real terms compared to the same quarter of 2022.

The real growth rates of quarterly GDP by expenditure categories based on non-adjusted data are presented in table 2.

A real growth is visible in most of the GDP categories on the expenditure side, except in categories NPISH and imports and exports of goods.

Table 3 shows the real growth rates of the quarterly gross value added (GVA) according to the NKD 2007 activity sections based on non-adjusted data.

The first estimate shows that the quarterly GVA increased in real terms by 2.8% in the fourth quarter of 2023, as compared to the same quarter of 2022, based on non-adjusted data.

The increase in GVA was mainly influenced by the increase in real value added of Wholesale and retail trade, transportation, storage, accommodation and food service activities, and Construction.

In addition to the first estimate of GDP for the last quarter of 2023, the preliminary estimate of GDP for 2023 was also calculated, which shows a growth of 2.8%.

According to the first estimate, the annual GVA in 2023 was 2.3% higher in real terms than in 2022.

In Statistics in Line, the data by major categories of expenditure and according to the NKD 2007 activity sections at current prices, constant prices of the previous year, constant prices of the reference year (2015 = 100) and real growth rates are presented.

Detailed data expressed in kuna and euro can be downloaded on the link Statistics in Line.

Published by the Croatian Bureau of Statistics, Zagreb, Ilica 3, P. O. B. 80
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Persons responsible:
Suzana Šamec, Director of Macroeconomic Statistics Directorate
Lidija Brković, Director General

Prepared by:
Ingrid Pejković, Suzana Čajkušić, Jasna Medek, Patrik Pipp and Sanja Šmigoc

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