Croatia's Gross Domestic Product in this year's third quarter declined by 5.7 per cent in real terms in relation to the same period of 2008, mainly due to a decelerated decline in personal spending, the Central Bureau of Statistics (DZS) said on Monday.
Last month the DZS projected the Q3 GDP decline at 5.8 per cent. The GDPdropped by 6.7 per cent in real terms in Q1 and 6.3 per cent in Q2.
Household expenses, which made up the largest share of the GDP, went down by6.9 per cent over the third quarter of 2008. By comparison, household expensesfell by 9.9 per cent in Q1 and by 9.4 per cent in Q2.
Gross fixed-capital investments also saw a decline from 12.4 per cent in Q1and 12.7 per cent in Q2 to 10.5 per cent in Q3.
Exports dropped by 17.6 per cent in Q3, compared to a fall of 14.2 per centin Q1 and 19.8 per cent in Q2, while imports fell by 23.5 per cent, as against20.9 per cent in Q1 and 24.7 in Q2.
Government expenditure saw a drop of 0.6 per cent in Q3, the first declinesince the end of 2003. By comparison, it was up 3.9 per cent in Q1 and 1.2 percent in Q2.
