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Croatia Economy 2015

SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES











Croatia Economy 2015
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 22, 2014

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 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; economic growth was stagnant or negative in each year since 2009. Difficult problems still remain, including a stubbornly high unemployment rate, uneven regional development, and a challenging investment climate. Croatia continues to face reduced foreign investment. On 1 July 2013 Croatia joined the EU, following a decade-long application process. Croatia will be a member of the European Exchange Rate Mechanism until it meets the criteria for joining the Economic and Monetary Union and adopts the euro as its currency. EU accession has increased pressure on the government to reduce Croatia�?"s relatively high public debt, which triggered the EU�?"s excessive deficit procedure for fiscal consolidation. Zagreb has cut spending since 2012, and the government also raised additional revenues through more stringent tax collection and by raising the Value Added Tax. The government has also sought to accelerate privatization of non-strategic assets, with mixed success.

GDP (purchasing power parity):
$78.9 billion (2013 est.)
country comparison to the world: 84

$79.7 billion (2012 est.)
$81.3 billion (2012 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$59.14 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-1% (2013 est.)
country comparison to the world: 205

-1.9% (2012 est.)
-0.2% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$17,800 (2013 est.)
country comparison to the world: 78

$17,900 (2012 est.)
$18,200 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
19.9% of GDP (2013 est.)
country comparison to the world: 79

19.3% of GDP (2012 est.)
19.5% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 59.2%
government consumption: 20%
investment in fixed capital: 18.5%
investment in inventories: 1.7%
exports of goods and services: 44.4%
imports of goods and services: -43.8%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 5%
industry: 25.8%
services: 69.2% (2013 est.)

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:
-1.8% (2013 est.)
country comparison to the world: 181
[see also: Industrial production growth rate country ranks ]

Labor force:
1.715 million (2013 est.)
country comparison to the world: 124
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.1%
industry: 29%
services: 69% (2012)

Unemployment rate:
21.6% (2013 est.)
country comparison to the world: 166

19.1% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
21.1% (2011)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.3%
highest 10%: 27.5% (2008 est.)

Distribution of family income - Gini index:
32 (2010)
country comparison to the world: 108

29 (1998)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $17.87 billion
expenditures: $20.43 billion (2013 est.)

Taxes and other revenues:
36.9% of GDP (2013 est.)
country comparison to the world: 58
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.4% of GDP (2013 est.)
country comparison to the world: 158
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
66.2% of GDP (2013 est.)
country comparison to the world: 43

55.6% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.2% (2013 est.)
country comparison to the world: 82

3.4% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7% (31 December 2013 est.)
country comparison to the world: 42

7% (31 December 2012 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
9% (31 December 2013 est.)
country comparison to the world: 91

9.48% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$10.38 billion (31 January 2014 est.)
country comparison to the world: 76

$10.64 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$49.3 billion (31 December 2013 est.)
country comparison to the world: 70

$493.7 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$46.65 billion (31 December 2013 est.)
country comparison to the world: 61

$46.23 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$21.63 billion (31 December 2013 est.)
country comparison to the world: 57

$23.24 billion (31 December 2012)
$23.75 billion (31 December 2011 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$102.3 million (2013 est.)
country comparison to the world: 76

-$17.59 million (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$12.36 billion (2013 est.)
country comparison to the world: 89

$13.16 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
transport equipment, machinery, textiles, chemicals, foodstuffs, fuels

Exports - partners:
Italy 14.1%, Bosnia Herzegovina 13.1%, Germany 11.1%, Slovenia 10.1%, Austria 6.3% (2012 est.)

Imports:
$21.74 billion (2013 est.)
country comparison to the world: 76

$22.16 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery, transport and electrical equipment; chemicals, fuels and lubricants; foodstuffs

Imports - partners:
Germany 13.7%, Italy 12.5%, Slovenia 11.5%, Austria 9.1%, Hungary 6.2%, Russia 5.4% (2012 est.)

Reserves of foreign exchange and gold:
$11.46 billion (31 December 2013 est.)
country comparison to the world: 72

$11.95 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$60.47 billion (31 December 2013 est.)
country comparison to the world: 57

$61.39 billion (2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$37.5 billion (31 December 2013 est.)
country comparison to the world: 58

$36.08 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$6.081 billion (31 December 2013 est.)
country comparison to the world: 62

$5.581 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
kuna (HRK) per US dollar -

5.775 (2013 est.)
5.8503 (2012 est.)
5.498 (2010 est.)
5.2692 (2009)
4.98 (2008)


NOTE: 1) The information regarding Croatia on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Croatia Economy 2015 information contained here. All suggestions for corrections of any errors about Croatia Economy 2015 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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