Croatia's gross domestic product in this year's first quarter was 2.5 per cent lower on the year in real terms, the Central Bureau of Statistics said on Wednesday.
That was the fifth consecutive quarterly GDP decline, but at a slower rate, given that it was the lowest decline since the beginning of 2009, when the Croatian economy started recording negative rates.
GDP decline in real terms in the first quarter of 2009 was 6.7 per cent on the year, in the second quarter it was 6.3 per cent, in the third 5.7 per cent, and in the last quarter it was 4.5 per cent.
Croatia's GDP in 2009 declined 5.8 per cent on the year in real terms, which was mainly due to a fall in personal consumption and gross investment in fixed capital. These two categories had the greatest impact on GDP decline in this year's first quarter as well.
