Croatia

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Introduction - Croatia:
Location - Croatia:
People - Croatia:
Government - Croatia:
Economy - Croatia:

Economy overview

Once one of the wealthiest of the Yugoslav republics, Croatias economy suffered badly during the 1991-95 war as output collapsed and the country missed the early waves of investment in Central and Eastern Europe that followed the fall of the Berlin Wall. Since 2000, however, Croatias economic fortunes have begun to improve slowly, with moderate but steady GDP growth between 4% and 5% led by a rebound in tourism and credit-driven consumer spending. Inflation over the same period has remained tame and the currency, the kuna, stable. Nevertheless, difficult problems still remain, including a stubbornly high unemployment rate, a growing trade deficit and uneven regional development. The state retains a large role in the economy, as privatization efforts often meet stiff public and political resistance. 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. The EU accession process should accelerate fiscal and structural reform.

Gdp purchasing power parity

$60.26 billion (2006 est.)

Gdp official exchange rate

$37.42 billion (2006 est.)

Gdp real growth rate

4.6% (2006 est.)

Gdp per capita ppp

$13,400 (2006 est.)

Gdp composition by sector

agriculture: 6.8%
industry: 30.9%
services: 62.3% (2006 est.)

Labor force

1.72 million (2006 est.)

Labor force by occupation

agriculture: 2.7%
industry: 32.8%
services: 64.5% (2004)

Unemployment rate

17.2% official rate; labor force surveys indicate unemployment around 14% (2006 est.)

Population below poverty line

11% (2003)

Household income or consumption by percentage share

lowest 10%: 3.4%
highest 10%: 24.5% (2003 est.)

Distribution of family income gini index

29 (2001)

Inflation rate consumer prices

3.4% (2006 est.)

Investment gross fixed

28.5% of GDP (2006 est.)

Budget

revenues: $17.78 billion
expenditures: $19.06 billion; including capital expenditures of $NA (2006 est.)

Public debt

56.2% of GDP (2006 est.)

Agriculture products

wheat, corn, sugar beets, sunflower seed, barley, alfalfa, clover, olives, citrus, grapes, soybeans, potatoes; livestock, dairy products

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

Industrial production growth rate

5% (2006 est.)

Electricity production

12.95 billion kWh (2004)

Electricity consumption

16.53 billion kWh (2004)

Electricity exports

600 million kWh (2004)

Electricity imports

5.086 billion kWh (2004)

Oil production

20,500 bbl/day (2005 est.)

Oil consumption

93,000 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

75.28 million bbl (1 January 2005)

Natural gas production

1.64 billion cu m (2004 est.)

Natural gas consumption

2.75 billion cu m (2004 est.)

Natural gas exports

0 cu m (2004 est.)

Natural gas imports

1.11 billion cu m (2004 est.)

Natural gas proved reserves

24.64 billion cu m (1 January 2005 est.)

Current account balance

-$2.892 billion (2006 est.)

Exports

$11.17 billion f.o.b. (2006 est.)

Exports commodities

transport equipment, textiles, chemicals, foodstuffs, fuels

Exports partners

Italy 22%, Bosnia and Herzegovina 13.8%, Germany 9.7%, Slovenia 9%, Austria 7.4% (2006)

Imports

$21.79 billion f.o.b. (2006 est.)

Imports commodities

machinery, transport and electrical equipment; chemicals, fuels and lubricants; foodstuffs

Imports partners

Italy 16.7%, Germany 15.1%, Russia 8.9%, Austria 6.2%, Slovenia 5%, China 4.7% (2006)

Reserves of foreign exchange and gold

$11.07 billion (2006 est.)

Debt external

$33.09 billion (30 June 2006 est.)

Economic aid recipient

ODA, $166.5 million (2002)

Currency code

kuna (HRK)

Exchange rates

kuna per US dollar - 5.8625 (2006), 5.9473 (2005), 6.0358 (2004), 6.7035 (2003), 7.8687 (2002)

Communications - Croatia:
Transportation - Croatia:
Military - Croatia:
This page was last updated on 16 September, 2007
Source: CIA >>>


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