Economy of Croatia
| Economy - overview: | 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. Since 2000, however, Croatia's 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 - production by source: | fossil fuel: 33.6% hydro: 66% nuclear: 0% other: 0.4% (2001) |
| 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) |
| Currency code: | HRK |
| Exchange rates: | kuna per US dollar - 5.8625 (2006), 5.9473 (2005), 6.0358 (2004), 6.7035 (2003), 7.8687 (2002) |
| Fiscal year: | calendar year |