At the end of the third quarter of 2022, the total financial assets of households amounted to 81 billion euros, which is 1.3 percent higher than at the end of the previous quarter, while in the period of one year, the financial assets of households increased by 3.9 billion euros, according to the new Statistical Release from HNB on the statistics of financial accounts for the third quarter of 2022.
The largest contribution to the growth of financial assets comes from the increase in cash and deposits, which account for 50.3 percent of total financial assets of households. Financial liabilities of households increased to 22 billion euros, representing a rise of 0.9 percent compared to June 2022. These developments resulted in an increase in the financial net worth of the household sector to 59 billion euros, which is 1.4 percent higher than at the end of June 2022 (or 2.8 billion euros or five percent higher compared to the end of the same quarter of the previous year), thus the net worth of this sector, which has shown a trend of accelerated growth since the second quarter of 2020, rose again after a one-time decrease in the first quarter of 2022.
At the end of the third quarter of 2022, the financial assets of the Croatian economy amounted to 388 billion euros, which is an increase of 9.4 billion euros in that quarter and an increase of 24.2 billion euros over the year. At the same time, the financial liabilities of the Croatian economy amounted to 404 billion euros, having increased by 5.1 billion euros in the quarter and 20.4 billion euros over the year.
In relation to GDP, the financial assets of the Croatian economy at the end of the third quarter of 2022 amounted to 597 percent of annual GDP, which is a decrease of 9.4 percentage points in that quarter and a decrease of 48.7 percentage points over the year.
At the same time, the financial liabilities of the Croatian economy decreased by 17.3 percentage points in the quarter and by 59.3 percentage points over the year, reaching a level of 622 percent of annual GDP at the end of the third quarter of 2022. This continues the reduction of the asset and liability status of the Croatian economy in relation to GDP, which began in the second quarter of 2021 due to slower growth in their value compared to the growth of quarterly GDP, according to the HNB statement.
At the end of the third quarter of 2022, the total financial assets of non-financial enterprises amounted to 113 billion euros, which is 2.2 percent higher than at the end of the previous quarter. The financial liabilities of non-financial enterprises amounted to 166 billion euros, representing an increase of 0.5 percent compared to the end of the previous quarter. The result of such movements was an increase in the financial net worth of the non-financial enterprise sector to -53 billion euros, which is 3.1 percent higher than at the end of the previous quarter.
