Last Weeks Value of Taxable Invoices Up by 25.5 %YoY

In the period from 22 Feb 2021 till 16 Jan 2022 the value of taxable invoices increased by 25.5% YoY amounting to HRK 191.3bn. The spending amount is 5.3% higher than spending in a comparable period in 2019, yet again indicating positive sentiment. The value of last week’s taxable invoices is up 17% YoY while compared to the week before it was up 8.2%.

By looking at the latest announcements from the Tax Administration of the Republic of Croatia, in the period from 22 Feb 2021 till 16 Jan 2022, the value of taxable invoices increased by 25.5% YoY amounting to 191.3 bn. This growth in taxable invoices represents positive sentiment in consumption, especially taking into consideration that consumption is yet again, 5.3% higher in the 2019 comparable period (25 Feb 2019 – 19 Jan 2020). Taxable invoices in wholesale and retail trade in the period from 22 Feb 2021 till 16 Jan 2022 grew by HRK 17.9bn YoY (an increase of 16.3%) and it is also 7.1% 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 10 Jan to 16 Jan 2022 witnessed double-digit growth of 17% YoY. Compared to the same week in 2020 consumption witnessed an increase of 9% beating pre-pandemic spending. In the last week (10 Jan to 16 Jan) the spending in wholesale and retail trade picked up 8.7% 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 148.7m (amounting to HRK 219.4m) when compared to the same week in 2021. Compared to the same week in 2020, taxable invoices in accommodation and food reported a decrease of 4.8%.

The value of taxable invoices in all segments in the week from 10 Jan to 16 Jan 2022, compared to the week before (3 Jan 2022 to 9 Jan 2022) was up 8.2%, mostly driven by the value in wholesale and retail in the same period which increased 8.7%. When looking at the value of taxable invoices in accommodation and food service, it decreased by 14.1% compared to the week before.