In the period from 22 Feb 2021 till 27 Mar 2022 the value of taxable invoices increased by 24.6% YoY amounting to HRK 227.5bn. The spending amount is 7.7% higher than spending in a comparable period in 2019/2020, yet again indicating positive sentiment. The value of last week’s taxable invoices is up 22.3% YoY, while compared to the same week in 2020, a strong increase of more than 2x is reported. Last week’s Value of Taxable Invoices compared to the week before was down 5.6%.
By looking at the latest announcements from the Tax Administration of the Republic of Croatia, in the period from 22 Feb 2021 till 27 Mar 2022, the value of taxable invoices increased by 24.6% YoY amounting to 227.5bn. This growth in taxable invoices represents positive sentiment in consumption, especially taking into consideration that consumption is yet again, 7.7% higher than in the 2019/2020 comparable period (25 Feb 2019 – 29 Mar 2020). Taxable invoices in wholesale and retail trade in the period from 22 Feb 2021 till 27 Mar 2022 grew by HRK 20.3bn YoY (an increase of 15.3%) and it is also 8.7% above the value of spending level in this segment in the same period in 2019/2020.
The value of taxable invoices in all segments in the week from 21 Mar to 27 Mar 2022 witnessed double-digit growth of 22.3% YoY. Compared to the same week in 2020 consumption more than doubled, clearly beating pandemic spending. This growth, which amounted to HRK 2bn, was driven by an increase in spending in wholesale and retail trade, which reported an increase of HRK 1.1bn and amounted to HRK 2.6bn (84.4% YoY). Meanwhile, it is important to note that the value of taxable invoices in accommodation and food in a given week also reported a strong growth – an increase from HRK 20m to HRK 308m, when compared to the same week in 2021 – a clear sign of a more positive market outlook. Compared to the same week in 2020, which is considered a pre-pandemic period, taxable invoices in accommodation and food also reported a slight increase of 6.1%.
The value of taxable invoices in all segments in the week from 21 Mar to 27 Mar 2022, compared to the week before (14 Mar 2022 to 20 Mar 2022) was down 5.6%, mostly driven by the value in wholesale and retail in the same period which decreased by HRK 193.3m and amounted to 68% of the value of all taxable invoices. When looking at the value of taxable invoices in accommodation and food service, it increased slightly by 6.1% compared to the week before.
