In the period from 22 Feb till 12 Dec 2021 the value of taxable invoices increased by 25.3% YoY amounting to HRK 173.2 bn. The spending amount is 4.6% higher than spending in a comparable period in 2019, yet again indicating positive sentiment. The value of last week’s taxable invoices is up 20.5% YoY and compared to the week before it was up 4.8%.

By looking at the latest announcements from the Tax Administration of the Republic of Croatia, in the period from 22 Feb till 12 Dec 2021, the value of taxable invoices increased by 25.3% YoY amounting to 173.2 bn. This growth in taxable invoices represents positive sentiment in consumption, especially taking into consideration that consumption is 4.6% higher in the comparable period in 2019 (25 Feb – 15 Dec). Taxable invoices in wholesale and retail trade in the period from 22 Feb till 12 Dec grew by HRK 16 bn YoY (an increase of 16.3%) and it is also 6.6% 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 6 Dec to 12 Dec witnessed double-digit growth of 20.5% YoY. Compared to the same week in 2019 consumption growth witnessed an increase of 7.5% beating pre-pandemic spending. In the last week (6 Dec to 12 Dec) the spending in wholesale and retail trade picked up 10.1% YoY. Meanwhile, it is important to note that the value of taxable invoices in accommodation and food in a given week reported a 4x increase – increase of HRK 190.5 bn (amounting to HRK 251.1 bn) when compared to the same week in 2020. Compared to the same week in 2019, taxable invoices in accommodation and food reported a decrease of 6.4%.

The value of taxable invoices in all segments in the week from 6 Dec to 12 Dec 2021, compared to the week before (29 Nov to 5 Dec) was up 2.2%, while the value in wholesale and retail in the same period was up c. 1%. When looking at the value of taxable invoices in accommodation and food service, it increased by 6.2% compared to the week before.