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Croatia Economy 2017
http://www.theodora.com/wfbcurrent/croatia/croatia_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Croatia Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

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):
$94.24 billion (2016 est.) $92.48 billion (2015 est.) $90.98 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 85
[see also: GDP country ranks ]

GDP (official exchange rate):
$49.86 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.9% (2016 est.) 1.6% (2015 est.) -0.4% (2014 est.)
country comparison to the world: 140
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$22,400 (2016 est.) $21,900 (2015 est.) $21,500 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 82
[see also: GDP - per capita country ranks ]

Gross national saving:
21.8% of GDP (2016 est.) 23.5% of GDP (2015 est.) 19% of GDP (2014 est.)
country comparison to the world: 70
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 59.1%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.3%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 19.1%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -0.4%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 50.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -47.9% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 4.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 26.6%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 69.2% (2016 est.)
[see also: GDP - composition, by sector of origin - services 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:
3.5% (2016 est.)
country comparison to the world: 65
[see also: Industrial production growth rate country ranks ]

Labor force:
1.61 million (2016 est.)
country comparison to the world: 130
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.9%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 27.6%
[see also: Labor force - by occupation - industry country ranks ]
services: 70.4% (2014)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
15.8% (2016 est.) 17.1% (2015 est.)
country comparison to the world: 157
[see also: Unemployment rate country ranks ]

Population below poverty line:
19.5% (2014 est.)
[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.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
32 (2010) 29 (1998)
country comparison to the world: 111
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $21.47 billion
[see also: Budget revenues country ranks ]
expenditures: $22.72 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
43.1% of GDP (2016 est.)
country comparison to the world: 27
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.5% of GDP (2016 est.)
country comparison to the world: 81
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
88.3% of GDP (2016 est.) 86.7% of GDP (2015 est.)
country comparison to the world: 25
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-1% (2016 est.) -0.5% (2015 est.)
country comparison to the world: 5
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7% (31 December 2013) 7% (31 December 2012)
country comparison to the world: 45
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
4.8% (31 December 2016 est.) 5.83% (31 December 2015 est.)
country comparison to the world: 145
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$10.85 billion (31 December 2016 est.) $10.11 billion (31 December 2015 est.)
country comparison to the world: 80
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$42.36 billion (31 December 2016 est.) $41.1 billion (31 December 2015 est.)
country comparison to the world: 72
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$40.07 billion (31 December 2016 est.) $42.41 billion (31 December 2015 est.)
country comparison to the world: 70
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$36.29 billion (31 December 2014 est.) $33.75 billion (31 December 2013 est.) $33.44 billion (31 December 2012 est.)
country comparison to the world: 60
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$1.514 billion (2016 est.) $2.551 billion (2015 est.)
country comparison to the world: 31
[see also: Current account balance country ranks ]

Exports:
$12.41 billion (2016 est.) $11.91 billion (2015 est.)
country comparison to the world: 77
[see also: Exports country ranks ]

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

Exports - partners:
Italy 13.4%, Slovenia 12.5%, Germany 11.4%, Bosnia and Herzegovina 9.9%, Austria 6.6%, Serbia 4.9% (2015)

Imports:
$19.98 billion (2016 est.) $19.28 billion (2015 est.)
country comparison to the world: 71
[see also: Imports country ranks ]

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

Imports - partners:
Germany 15.5%, Italy 13.1%, Slovenia 10.7%, Austria 9.2%, Hungary 7.8% (2015)

Reserves of foreign exchange and gold:
$14.46 billion (31 December 2016 est.) $14.97 billion (31 December 2015 est.)
country comparison to the world: 68
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$48.11 billion (31 December 2016 est.) $50.88 billion (31 December 2015 est.)
country comparison to the world: 64
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$41.17 billion (31 December 2016 est.) $39.74 billion (31 December 2015 est.)
country comparison to the world: 61
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$8.484 billion (31 December 2016 est.) $8.05 billion (31 December 2015 est.)
country comparison to the world: 63
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
kuna (HRK) per US dollar - 6.971 (2016 est.) 6.8583 (2015 est.) 6.8583 (2014 est.) 5.7482 (2013 est.) 5.85 (2012 est.)


NOTE: The information regarding Croatia on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Croatia Economy 2017 information contained here. All suggestions for corrections of any errors about Croatia Economy 2017 should be addressed to the CIA.




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