| Economy | Croatia |
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Economy - overview:
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Once one of the wealthiest of the Yugoslav republics, Croatia's 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. Between 2000 and 2007, however, Croatia's economic fortunes began to improve slowly, with moderate but steady GDP growth between 4% and 6% 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, although the failure to implement such reforms should no longer affect Croatia's accession timeline. Croatia will face significant pressure as a result of the global financial crisis, due to reduced exports and capital inflows. The World Bank expects Croatia to enter a recession in 2012 and has urged the new government to cut spending, particularly on social programs. Croatia's high foreign debt, anemic export sector, strained state budget, and over-reliance on tourism revenue will result in higher risk to economic stability over the medium term. |
GDP (purchasing power parity):
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$80.89 billion (2011 est.)
$80.27 billion (2010 est.)
$81.19 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$18,300 (2011 est.)
$18,200 (2010 est.)
$18,300 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$64.2 billion (2011 est.) |
GDP - real growth rate:
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0.8% (2011 est.)
-1.2% (2010 est.)
-6% (2009 est.) |
GDP - composition by sector:
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agriculture: 5.5%
industry: 24.4%
services: 70.1% (2011 est.) |
Investment (gross fixed):
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21.4% of GDP (2011 est.) |
Population below poverty line:
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17% (2008) |
Household income or consumption by percentage share:
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lowest 10%: 3.3%
highest 10%: 27.5% (2008 est.) |
Distribution of family income - Gini index:
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33.7 (2008)
29 (1998) |
Inflation rate (consumer prices):
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3.2% (2011 est.)
1.1% (2010 est.) |
Central bank discount rate:
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9% (31 December 2010 est.)
9% (31 December 2009 est.) |
Commercial bank prime lending rate:
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9.5% (31 December 2011 est.)
10.38% (31 December 2010 est.) |
Stock of money:
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$9.27 billion (31 December 2009)
$10.71 billion (31 December 2008) |
Stock of money - per capita:
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2,068 USD per capita |
Stock of quasi money:
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$34.57 billion (31 December 2009)
$33.17 billion (31 December 2008) |
Stock of quasi money - per capita:
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7,710 USD per capita |
Stock of domestic credit:
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$54.97 billion (31 December 2011 est.)
$49.69 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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12,260 USD per capita |
Stock of narrow money:
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$9.616 billion (31 December 2011 est.)
$8.906 billion (31 December 2010 est.) |
Stock of broad money:
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$45.84 billion (31 December 2011 est.)
$42.36 billion (31 December 2010 est.) |
Labor force:
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1.721 million (2011 est.) |
Labor force participation rate:
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38.38 % of population |
Labor force - by occupation:
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agriculture: 5%
industry: 31.3%
services: 63.6% (2008) |
Unemployment rate:
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17.9% (2011 est.)
17.6% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 21.9%
male: 18.5%
female: 27.2% (2008) |
Budget:
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revenues: $22.86 billion
expenditures: $27.02 billion (2011 est.) |
Budget revenues per capita:
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5,099 USD per capita |
Taxes and other revenues:
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35.6% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-5.1% of GDP (2011 est.) |
Public debt:
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60.5% of GDP (2011 est.)
58.2% of GDP (2010 est.) |
Industries:
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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:
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-3.1% (2011 est.) |
Electricity - production:
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11.66 billion kWh (2008 est.) |
Electricity - production per capita:
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2,601 kWh per capita |
Electricity - consumption:
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16.06 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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3,582 kWh per capita |
Electricity - exports:
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2.578 billion kWh (2009 est.) |
Electricity - imports:
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5.073 billion kWh (2009 est.) |
Oil - production:
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23,230 bbl/day (2010 est.) |
Oil - production per capita:
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5,181 bbl/day per capita |
Oil - consumption:
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98,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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7.98 bbl/year per capita |
Oil - exports:
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45,140 bbl/day (2009 est.) |
Oil - imports:
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103,000 bbl/day (2009 est.) |
Oil - proved reserves:
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71 million bbl (1 January 2011 est.) |
Natural gas - production:
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1.98 billion cu m (2009 est.) |
Natural gas - production per capita:
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442 cu m per capita |
Natural gas - consumption:
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2.853 billion cu m (2009 est.) |
Natural gas - consumption - per capita:
|
637 cu m per capita |
Natural gas - exports:
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212 million cu m (2009 est.) |
Natural gas - imports:
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1.085 billion cu m (2009 est.) |
Natural gas - proved reserves:
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24.92 billion cu m (1 January 2011 est.) |
Agriculture - products:
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wheat, corn, sugar beets, sunflower seed, barley, alfalfa, clover, olives, citrus, grapes, soybeans, potatoes; livestock, dairy products |
Current account balance:
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-$1.027 billion (2011 est.)
-$900.7 million (2010 est.) |
Current account balance - per capita:
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-229 USD per capita |
Exports:
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$13.3 billion (2011 est.)
$12.07 billion (2010 est.) |
Exports per capita:
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2,967 USD per capita |
Exports - commodities:
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transport equipment, machinery, textiles, chemicals, foodstuffs, fuels |
Exports - partners:
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Italy 18.9%, Bosnia and Herzegovina 11.9%, Germany 10.6%, Slovenia 8%, Austria 5.4% (2010) |
Imports:
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$21.1 billion (2011 est.)
$19.94 billion (2010 est.) |
Imports per capita:
|
4,706 USD per capita |
Imports - commodities:
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machinery, transport and electrical equipment; chemicals, fuels and lubricants; foodstuffs |
Imports - partners:
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Italy 15.2%, Germany 12.5%, Russia 9%, China 7.2%, Slovenia 5.9%, Austria 4.8% (2010) |
Reserves of foreign exchange and gold:
|
$16.29 billion (31 December 2011 est.)
$14.13 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
3,634 USD per capita |
Debt - external:
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$66.3 billion (31 December 2011 est.)
$60.7 billion (31 December 2010 est.) |
Debt - external - per capita:
|
14,787 USD per capita |
Stock of direct foreign investment - at home:
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$33.44 billion (31 December 2011 est.)
$32.5 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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7,458 USD per capita |
Stock of direct foreign investment - abroad:
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$5.942 billion (31 December 2011 est.)
$5.642 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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1,326 USD per capita |
Market value of publicly traded shares:
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$24.91 billion (31 December 2010)
$25.64 billion (31 December 2009)
$26.79 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
|
5,556 USD per capita |
Currency (code):
|
kuna (HRK) |
Exchange rates:
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kuna (HRK) per US dollar -
5.25 (2011 est.)
5.4779 (2010 est.)
5.2692 (2009)
4.98 (2008)
5.3735 (2007) |
Fiscal year:
|
calendar year |
|
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