In the period from 22 Feb 2021 till 20 Feb 2022 the value of taxable invoices increased by 24.9% YoY amounting to HRK 208.4bn. The spending amount is 6% 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 23.3% YoY, while compared to the week before it was also up 2.7%.
By looking at the latest announcements from the Tax Administration of the Republic of Croatia, in the period from 22 Feb 2021 till 20 Feb 2022, the value of taxable invoices increased by 24.9% YoY amounting to 208.4bn. This growth in taxable invoices represents positive sentiment in consumption, especially taking into consideration that consumption is yet again, 6% higher than in the 2019/2020 comparable period (25 Feb 2019 – 23 Feb 2020). Taxable invoices in wholesale and retail trade in the period from 22 Feb 2021 till 20 Feb 2022 grew by HRK 19bn YoY (an increase of 15.7%) and it is also 7.5% 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 14 Feb to 20 Feb 2022 witnessed double-digit growth of 23.3% YoY. Compared to the same week in 2020 consumption witnessed an increase of 21.6% beating pre-pandemic spending. In the last week (14 Feb to 20 Feb) the spending in wholesale and retail trade picked up 14.1% YoY. Meanwhile, it is important to note that the value of taxable invoices in accommodation and food in a given week increased threefold – an increase of HRK 198.1m (amounting to HRK 286m) when compared to the same week in 2021. Compared to the same week in 2020, which is considered a pre-pandemic period, taxable invoices in accommodation and food reversed a negative trend and reported a slight increase of 2.5%.
The value of taxable invoices in all segments in the week from 14 Feb to 20 Feb 2022, compared to the week before (7 Feb 2022 to 13 Feb 2022) was up 2.7%, mostly driven by the value in wholesale and retail in the same period which increased by HRK 59.1m and amounted to 60% of the value of all taxable invoices. When looking at the value of taxable invoices in accommodation and food service, it increased slightly by 5.3% compared to the week before.