In the period from 22 Feb 2021 till 9 Jan 2022 the value of taxable invoices increased by 25.7% YoY amounting to HRK 187.9bn. The spending amount is 5.2% higher than spending in a comparable period in 2019, yet again indicating positive sentiment. The value of last week’s taxable invoices is up 21.4% YoY while compared to the week before it was down 7.7%.
By looking at the latest announcements from the Tax Administration of the Republic of Croatia, in the period from 22 Feb 2021 till 9 Jan 2022, the value of taxable invoices increased by 25.7% YoY amounting to 187.9 bn. This growth in taxable invoices represents positive sentiment in consumption, especially taking into consideration that consumption is yet again, 5.2% higher in the 2019 comparable period (25 Feb 2019 – 12 Dec 2020). Taxable invoices in wholesale and retail trade in the period from 22 Feb 2021 till 9 Jan 2022 grew by HRK 17.7bn YoY (an increase of 16.5%) and it is also 7% above the value of spending level in this segment in the same period in 2019.
The value of taxable invoices in all segments in the week from 3 Jan to 9 Jan 2022 witnessed double-digit growth of 21.4% YoY. Compared to the same week in 2020 consumption growth also witnessed a double-digit increase of 10.5% beating pre-pandemic spending. In the last week (3 Jan to 9 Jan) the spending in wholesale and retail trade picked up 10.4% YoY. Meanwhile, it is important to note that the value of taxable invoices in accommodation and food in a given week increased fourfold – an increase of HRK 209.2m (amounting to HRK 255.5m) when compared to the same week in 2021. Compared to the same week in 2020, taxable invoices in accommodation and food reported an increase of 4.3%.
The value of taxable invoices in all segments in the week from 3 Jan to 9 Jan 2022, compared to the week before (27 Dec 2021 to 2 Jan 2022) was down 7.7%, mostly driven by the value in wholesale and retail in the same period which decreased 7.6%. When looking at the value of taxable invoices in accommodation and food service, it decreased by 18% compared to the week before.
