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Croatia Economy




Croatia    Economy Top of Page
Economy - overview: Before the dissolution of Yugoslavia, the Republic of Croatia, after Slovenia, was the most prosperous and industrialized area, with a per capita output perhaps one-third above the Yugoslav average. Croatia faces considerable economic problems stemming from: the legacy of longtime communist mismanagement of the economy; damage during the internecine fighting to bridges, factories, power lines, buildings, and houses; the large refugee and displaced population, both Croatian and Bosnian; and the disruption of economic ties. Stepped-up Western aid and investment, especially in the tourist and oil industries, would help bolster the economy. The economy emerged from its mild recession in 2000 with tourism the main factor. Massive unemployment remains a key negative element. The government's failure to press the economic reforms needed to spur growth is largely the result of coalition politics and public resistance, particularly from the trade unions, to measures that would cut jobs, wages, or social benefits.
GDP: purchasing power parity - $24.9 billion (2000 est.)
GDP - real growth rate: 3.2% (2000 est.)
GDP - per capita: purchasing power parity - $5,800 (2000 est.)
GDP - composition by sector: agriculture:  10%

industry:  19%

services:  71% (1999 est.)
Population below poverty line: 4% (1999 est.)
Household income or consumption by percentage share: lowest 10%:  NA%

highest 10%:  NA%
Inflation rate (consumer prices): 6% (2000 est.)
Labor force: 1.68 million (October 2000)
Labor force - by occupation: agriculture NA%, industry NA%, services NA%
Unemployment rate: 22% (October 2000)
Budget: revenues:  $6 billion

expenditures:  $4.7 billion, including capital expenditures of $NA (1999 est.)
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: 1.7% (2000)
Electricity - production: 10.96 billion kWh (1999)
Electricity - production by source: fossil fuel:  40.89%

hydro:  59%

nuclear:  0%

other:  0.11% (1999)
Electricity - consumption: 13.643 billion kWh (1999)
Electricity - exports: 1 billion kWh (1999)
Electricity - imports: 4.45 billion kWh (1999)
Agriculture - products: wheat, corn, sugar beets, sunflower seed, alfalfa, clover, olives, citrus, grapes, soy beans, potatoes; livestock, dairy products
Exports: $4.3 billion (f.o.b., 1999)
Exports - commodities: transport equipment, textiles, chemicals, foodstuffs, fuels
Exports - partners: Italy 18%, Germany 15.7%, Bosnia and Herzegovina 12.8%, Slovenia 10.6%, Austria 6.2% (1999)
Imports: $7.8 billion (c.i.f., 1999)
Imports - commodities: machinery, transport and electrical equipment, chemicals, fuels and lubricants, foodstuffs
Imports - partners: Germany 18.5%, Italy 15.9%, Russia 8.6%, Slovenia 7.9%, Austria 7.1% (1999)
Debt - external: $9.9 billion (December 1999)
Economic aid - recipient: $NA
Currency: kuna (HRK)
Currency code: HRK
Exchange rates: kuna per US dollar - 8.089 (January 2001), 8.277 (2000), 7.112 (1999), 6.362 (1998), 6.101 (1997), 5.434 (1996)
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook








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