QUARTERLY GROSS DOMESTIC PRODUCT, REVISED DATA BY QUARTERS, 2023

To achieve consistency among national accounts data, this calculation of the quarterly gross domestic product (GDP) includes the following:

- revision of paid subsidies on products and subsidies on production – due to methodological changes in the monitoring of subsidies related to renewable energy sources and the revision of measures due to the increase in energy prices

- revision of tax revenues – adjustments of quarterly and annual calculations were performed with regard to data sources in 2023 and the revision of incentive fees for promoting electricity production from renewable energy sources and high-efficiency cogeneration

- revision of the government final consumption expenditure – due to the inclusion of final annual data.

According to the revision policy of national accounts and government finance statistics / excessive deficit procedure statistics, if significant changes occur in the calculation of data within the April notification, the Croatian Bureau of Statistics is obliged to ensure consistency between data and publish the revised GDP data, thus also ensuring consistency in quarterly sector accounts.

The revised data refer to the period from the first quarter of 1995 to the fourth quarter of 2023. The largest changes occurred in 2023; therefore, the revised quarters for 2023 are published.

Detailed data can be downloaded on the link Statistics in Line.

The first estimate shows that GDP in real terms increased by 3.1% in 2023, as compared to 2022.

The real growth rates of quarterly GDP by expenditure categories based on non-seasonally adjusted data are presented in table 2. In relation to the first estimate of the quarterly GDP for the fourth quarter of 2023, published on 27 February 2024, changes in the final consumption, government consumption and total GDP are visible.

Table 3 shows the real growth rates of the quarterly gross value added (GVA) according to the NKD 2007 activity sections based on non-seasonally adjusted data, which have not changed compared to the first estimate of GDP for the fourth quarter of 2023, published on 27 February 2024.

The publishing date of the first estimate of GDP for the first quarter of 2024 is 28 May 2024.

Published by the Croatian Bureau of Statistics, Zagreb, Ilica 3, P. O. B. 80
Phone: (+385 1) 48 06 111
Press corner: press@dzs.hr

Persons responsible:
Suzana Šamec, Director of Macroeconomic Statistics Directorate
Lidija Brković, Director General

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

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