Page last updated on February 14, 2013
Economy - overview:
Though still one of the wealthiest of the former Yugoslav republics, Croatia's economy suffered badly during the 1991-95 war. The country's output during that time collapsed and Croatia 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 remained tame and the currency, the kuna, stable. Croatia experienced an abrupt slowdown in the economy in 2008 and has yet to recover. Difficult problems still remain, including a stubbornly high unemployment rate, a growing trade deficit, uneven regional development, and a challenging investment climate. The new government has announced a more flexible approach to privatization, including the sale in the coming years of state-owned businesses that are not of strategic importance. While macroeconomic stabilization has largely been achieved, structural reforms lag. Croatia will face significant pressure as a result of the global financial crisis, due to reduced exports and capital inflows. Croatia reentered a recession in 2012 and Zagreb cut spending, particularly on social programs. Croatia's high foreign debt, anemic export sector, strained state budget, and over-reliance on tourism revenue will hinder economic progress over the medium term.
GDP (purchasing power parity):
$79.67 billion (2012 est.)
country comparison to the world: 81
$80.59 billion (2011 est.)
$80.6 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$57.49 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
-1.1% (2012 est.)
country comparison to the world: 200
0% (2011 est.)
-1.4% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$18,100 (2012 est.)
country comparison to the world: 68
$18,300 (2011 est.)
$18,200 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 5.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
24.9%
services:
70% (2012 est.)
Labor force:
1.745 million (2012 est.)
country comparison to the world: 125
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
31.3%
services:
63.6% (2008)
Unemployment rate:
19% (2012 est.)
country comparison to the world: 158
17.8% (2011 est.)
[see also:
Unemployment rate country ranks ]
Population below poverty line:
20.6% (2010)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 3.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
27.5% (2008 est.)
Distribution of family income - Gini index:
32 (2010)
country comparison to the world: 105
29 (1998)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
18.4% of GDP (2012 est.)
country comparison to the world: 115
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $19.9 billion
[see also: Budget revenues country ranks ]
expenditures:
$22.51 billion (2012 est.)
Taxes and other revenues:
34.6% of GDP (2012 est.)
country comparison to the world: 72
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-4.5% of GDP (2012 est.)
country comparison to the world: 144
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
66.1% of GDP (2012 est.)
country comparison to the world: 41
64% of GDP (2011 est.)
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
2.9% (2012 est.)
country comparison to the world: 74
2.3% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
7% (31 December 2011 est.)
country comparison to the world: 30
9% (31 December 2010 est.)
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
8.6% (31 December 2012 est.)
country comparison to the world: 94
9.68% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$9.178 billion (31 December 2012 est.)
country comparison to the world: 79
$9.073 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$42.47 billion (31 December 2012 est.)
country comparison to the world: 70
$41.38 billion (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$51.86 billion (31 December 2012 est.)
country comparison to the world: 63
$51.78 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$21.8 billion (31 December 2011)
country comparison to the world: 61
$24.91 billion (31 December 2010)
$25.64 billion (31 December 2009)
[see also:
Market value of publicly traded shares country ranks ]
Agriculture - products:
arable crops (wheat, corn, barley, sugar beet, sunflower, rapeseed, alfalfa, clover); vegetables (potatoes, cabbage, onion, tomato, pepper); fruits (apples, plum, mandarins, olives), grapes for wine; livestock (cattle, cows, pigs); 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:
0.3% (2011 est.)
country comparison to the world: 146
[see also: Industrial production growth rate country ranks ]
Current account balance:
-$232.7 million (2012 est.)
country comparison to the world: 82
