Economy of Croatia
Overview
Before the dissolution of Yugoslavia, the Republic of Croatia, after Slovenia, was the most prosperous and industrialized area with a per capita output perhaps one-third above the Yugoslav average. The economy emerged from a mild recession in 2000 with tourism, banking, and public investments leading the way. Unemployment remains high, at about 17%, with structural factors slowing its decline. While macroeconomic stabilization has largely been achieved, structural reforms lag because of deep resistance on the part of the public and lack of strong support from politicians. Growth, while impressive at about 3% to 4% for the last several years, has been stimulated, in part, through high fiscal deficits and rapid credit growth. The EU accession process should accelerate fiscal and structural reform.
GDP
Real Growth Rate
4%
Per Capita
USD 13,200
From Agriculture
7%
From Industry
31%
From Services
62%
Labour Force
Available for Work
1
Working in Agriculture
3%
Working in Industry
33%
Working in Services
65%
Unemployment Rate
17%
Population Below Poverty Line
11%
Inflation Rate
3%
Investment as Percent of GDP
29%
Budget
Revenues
USD 17,780 (m)
Expenditures
USD 19,060 (m)
Public Debt
US$ 20990.00 (m)
Agricultural Products
Wheat, corn, sugar beets, sunflower seed, barley, alfalfa, clover, olives, citrus, grapes, soybeans, potatoes; livestock, dairy products.
Core Industries
Chemicals and plastics, machine tools, fabricated metal, electronics, pig iron and rolled steel products, aluminum, paper, wood products, construction materials, textiles, shipbuilding, petroleum and petroleum refining, food and beverages, tourism.
Exports
Value
USD 11,170 (m)
Commodities
Transport equipment, textiles, chemicals, foodstuffs, fuels.
Partners
Italy 21.8%, Bosnia and Herzegovina 14.7%, Germany 10.7%, Slovenia 8.1%, Austria 7.3% (2005).
Imports
Value
USD 21,790 (m)
Commodities
Machinery, transport and electrical equipment; chemicals, fuels and lubricants; foodstuffs.
Partners
Italy 15.9%, Germany 14.9%, Russia 9.1%, Slovenia 6.8%, Austria 5.8%, China 4.7%, France 4.2% (2005).
External Debt
USD 33,090 (m)
Fiscal Year
calendar year
