Economy of Croatia

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 slowly 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. Difficult problems still remain, including a stubbornly high unemployment rate, a growing trade deficit, uneven regional development, and a challenging investment climate. The new government has announced a more flexible approach to privatization, including the sale in the coming years of state-owned businesses that are not of strategic importance. While macroeconomic stabilization has largely been achieved, structural reforms lag. Croatia will face significant pressure as a result of the global financial crisis, due to reduced exports and capital inflows. The World Bank expects Croatia to enter a recession in 2012 and has urged the new government to cut spending, particularly on social programs. Croatia''s high foreign debt, anemic export sector, strained state budget, and over-reliance on tourism revenue will result in higher risk to economic progress over the medium term.

$81.36 billion (2011 est.)

$82.38 billion (2009 est.)

data are in 2011 US dollars

$63.84 billion (2011 est.)

0% (2011 est.)

-6% (2009 est.)

$18,400 (2011 est.)

$18,600 (2009 est.)

data are in 2011 US dollars

5.4%

25.5%

69.1% (2011 est.)

1.717 million (2011 est.)

125

5%

31.3%

63.6% (2008)

17.7% (2011 est.)

17.6% (2010 est.)

18% (2009)

3.3%

27.5% (2008 est.)

27 (2009)

29 (1998)

20.1% of GDP (2011 est.)

93

$30.13 billion

$26.31 billion (2011 est.)

47.2% of GDP (2011 est.)

25

6% of GDP (2011 est.)

16

43.9% of GDP (2011 est.)

58.2% of GDP (2010 est.)

2.3% (2011 est.)

1.1% (2010 est.)

7% (31 December 2011 est.)

9% (31 December 2010 est.)

9.68% (31 December 2011 est.)

10.38% (31 December 2010 est.)

$9.282 billion (31 December 2011 est.)

$8.827 billion (31 December 2010 est.)

$41.83 billion (31 December 2011 est.)

$42.36 billion (31 December 2010 est.)

$51.81 billion (31 December 2011 est.)

$49.39 billion (31 December 2010 est.)

$21.8 billion (31 December 2011)

$25.64 billion (31 December 2009)

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

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

0.3% (2011 est.)

146

14.67 billion kWh (2010 est.)

81

18.87 billion kWh (2010 est.)

69

1.916 billion kWh (2010 est.)

6.6 billion kWh (2010 est.)

13,780 bbl/day (2010 est.)

81

68,510 bbl/day (2010 est.)

87

36,080 bbl/day (2010 est.)

82

67,660 bbl/day (2010 est.)

79

66 million bbl (1 January 2011 est.)

77

2.507 billion cu m (2010 est.)

55

2.974 billion cu m (2010 est.)

75

439 million cu m (2010 est.)

41

971.2 million cu m (2010 est.)

59

31.58 billion cu m (1 January 2011 est.)

71

-$2.4 billion (2011 est.)

-$947.3 million (2010 est.)

$12.28 billion (2011 est.)

$12.07 billion (2010 est.)

transport equipment, machinery, textiles, chemicals, foodstuffs, fuels

Italy 16.6%, Bosnia and Herzegovina 12.7%, Germany 10.4%, Slovenia 8.2%, Austria 5.8%, Luxembourg 4.5% (2011)

$20.4 billion (2011 est.)

$19.96 billion (2010 est.)

machinery, transport and electrical equipment; chemicals, fuels and lubricants; foodstuffs

Italy 16.2%, Germany 12.8%, China 7.2%, Russia 7.2%, Slovenia 6.4%, Austria 4.4% (2011)

$14.48 billion (31 December 2011 est.)

$14.13 billion (31 December 2010 est.)

$66.3 billion (31 December 2011 est.)

$61.62 billion (31 December 2010 est.)

$33.97 billion (31 December 2011 est.)

$32.88 billion (31 December 2010 est.)

$5.741 billion (31 December 2011 est.)

$5.641 billion (31 December 2010 est.)

5.3735 (2007)

calendar year