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World > Europe > Croatia > Economy (Facts)

Croatia - Economy (Facts)
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 - real growth rate: 4.6% (2006 est.)
GDP (purchasing power parity): $60.26 billion (2006 est.)
GDP (official exchange rate): $37.42 billion (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.)
Population below poverty line: 11% (2003)
Household income or consumption by percentage share: lowest 10%: 3.4%
highest 10%: 24.5% (2003 est.)
Inflation rate (consumer prices): 3.4% (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.)
Budget: revenues: $17.78 billion
expenditures: $19.06 billion; including capital expenditures of NA (2006 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: 5% (2006 est.)
Electricity - production: 12.95 billion kWh (2004)
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 - exports: 0 cu m (2004 est.)
Natural gas - imports: 1.11 billion cu m (2004 est.)
Agriculture - products: wheat, corn, sugar beets, sunflower seed, barley, alfalfa, clover, olives, citrus, grapes, soybeans, potatoes; livestock, dairy products
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)
Debt - external: $33.09 billion (30 June 2006 est.)
Economic aid - recipient: ODA, $166.5 million (2002)
Currency: Croatian Kuna (HRK)

Current Croatian Kuna Exchange Rates
Historical Croatian Kuna Exchange Rates
Chart Croatian Kuna Exchange Rates
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


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - Croatian Kuna Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
Croatian Kuna Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Foreign Relations
Relations with U.S.





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