In the period from 24 Feb till 8 Nov 2021 the value of taxable invoices increased by 26% YoY amounting to HRK 154.8bn. The value of last week’s taxable invoices is up 11% YoY, but compared to the week before it was down 15%.
By looking at the latest announcement from the Tax Administration of the Republic of Croatia, in the period from 24 Feb till 8 Nov 2021 the value of taxable invoices increased by 26% YoY amounting HRK 154.8bn. This growth in taxable invoices should be encouraging, even though it is still 17% below spending in comparable period in 2019 (25 Feb – 10 Nov 2019).Taxable invoices in wholesale and retail trade in the period from 24 Feb till 8 Nov 2021 grew by HRK 14.8bn (17% YoY), and it is 4% above value of spending level in this segment in the same period in 2019.
The value of taxable invoices in all segments in the 1st week of November 2021 witnessed double-digit growth of 11% YoY. Compared to the same period in 2019 growth was also 11%, beating pre-pandemic spending. In the last week (1 Nov – 7 Nov) the spending in wholesale and retail trade picked up 11% YoY. Meanwhile, it is important to note that the value of taxable invoices in wholesale and retail trade increased 4% (HRK 6.64bn), when compared to the same period in 2019. This means that spending in Croatia, in a given period breached pre-pandemic spending, representing positive consumer expectations. In the last week in November taxable invoices in accommodation and food services decreased by 2% compared to the same week in the last year 2020.
The value of taxable invoices in all segments in the 1st week of November 2021, compared to the week before (25 Oct – 31 Oct 2021), was down 15% , while in wholesale and retail trade it was down 13%. When looking at the value of taxable invoices in accommodation and food services, it decreased by 25% compared to the week before (25 Oct – 31 Oct 2021). It can be connected with the increase in number of daily new confirmed cases of infections with coronavirus and changes in restriction of movement and public gatherings that came to force on 6 Nov 2021. The new set of measures will be in force until 30 Nov 2021. Namely, on 26 Oct Croatia had 622 daily new confirmed COVID-19 cases (per 1M), while on 1 Nov it had 891 confirmed cases in 1 million of citizens. On the day when new measures came into force on 6 Nov, Croatia had 1,055 new confirmed cases per 1 million of citizen and it was 4th country with the highest incidence number, coming after Slovenia (1,338), Estonia (1,300) and Georgia (1,180).
