Croatia Economy
Economy - overviewBefore 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. The economy emerged from a mild recession in 2000 with tourism, banking, and public investments leading the way. Unemployment remains high, at over 13 percent, with structural factors slowing its decline. 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. Growth, while impressively over 4% for the last several years, has been achieved through high fiscal and current account deficits. The government is gradually reducing a heavy back log of civil cases, many involving land tenure. The EU accession process should accelerate fiscal and structural reform.
GDP
purchasing power parity - $47.05 billion (2003 est.)
GDP - real growth rate
4.3% (2003 est.)
GDP - per capita
purchasing power parity - $10,600 (2003 est.)
GDP - composition by sector
agriculture: 7.9%
industry: 30%
services: 62.1% (2003 est.)
Investment
27.7% of GDP (2003)
Population below poverty line
NA
Household income or consumption by percentage share
lowest 10%: 3.7%
highest 10%: 23.3% (1998)
Distribution of family income - Gini index
29 (1998)
Inflation rate
1.8% (2003 est.)
Labor force
1.69 million (2003)
Labor force - by occupation
agriculture 13.2%, industry 25.4%, services 46.4% (2002)
Unemployment rate
19.5% (2003)
Budget
revenues: $12.76 billion
expenditures: $14.31 billion, including capital expenditures of NA (2003 est.)
Public debt
69.1% of GDP (2003)
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
3.9% (2003 est.)
Electricity - production
12.12 billion kWh (2001)
Electricity - consumption
14.27 billion kWh (2001)
Electricity - exports
386 million kWh (2001)
Electricity - imports
3.386 billion kWh (2001)
Oil - production
29,000 bbl/day (2001 est.)
Oil - consumption
89,000 bbl/day (2001 est.)
Oil - exports
NA (2001)
Oil - imports
NA (2001)
Oil - proved reserves
93.6 million bbl (1 January 2002)
Natural gas - production
1.76 billion cu m (2001 est.)
Natural gas - consumption
2.84 billion cu m (2001 est.)
Natural gas - exports
0 cu m (2001 est.)
Natural gas - imports
1.08 billion cu m (2001 est.)
Natural gas - proved reserves
34.36 billion cu m (1 January 2002)
Current account balance
$-2.039 billion (2003)
Exports
$6.355 billion f.o.b. (2003 est.)
Exports - commodities
transport equipment, textiles, chemicals, foodstuffs, fuels
Exports - partners
Italy 26.1%, Bosnia and Herzegovina 14.6%, Germany 12%, Slovenia 8.3%, Austria 7.9% (2003)
Imports
$12.86 billion f.o.b. (2003 est.)
Imports - commodities
machinery, transport and electrical equipment, chemicals, fuels and lubricants, foodstuffs
Imports - partners
Italy 17.9%, Germany 15.7%, Slovenia 7.4%, Austria 6.6%, France 5.3%, Russia 4.7% (2003)
Reserves of foreign exchange & gold
$8.191 billion (2003)
Debt - external
$23.56 billion (2003 est.)
Currency
kuna (HRK)
Currency code
HRK
Exchange rates
kuna per US dollar - 6.7035 (2003), 7.8687 (2002), 8.34 (2001), 8.2766 (2000), 7.1124 (1999)
