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Economy overview
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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. The economy emerged from its mild recession in 2000 with tourism the main factor, but massive structural 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. Opponents fear reforms would cut jobs, wages, and social benefits. The government has a heavy back log of civil cases, many involving tenure land. The country is likely to experience only moderate growth without disciplined fiscal and structural reform.
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GDP
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purchasing power parity - $47.05 billion (2004 est.)
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GDP - real growth rate
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4.3% (2004 est.)
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GDP - per capita
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purchasing power parity - $10,600 (2004 est.)
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GDP - composition by sector
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agriculture: 7.9%
industry: 30%
services: 62.1% (2004 est.)
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Investment gross fixed
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27.7% of GDP (2004 est.)
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Population below poverty line
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NA
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Household income or consumption by percentage share
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lowest 10%: 3.7%
highest 10%: 23.3% (1998)
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Distribution of family income - Gini index
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29 (1998)
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Inflation rate consumer prices
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1.8% (2004 est.)
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Labor force
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1.69 million (2004 est.)
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Labor force by occupation
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agriculture 13.2%, industry 25.4%, services 46.4% (2002)
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Unemployment rate
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19.5% (2004 est.)
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Budget
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revenues: $12.76 billion
expenditures: $14.31 billion, including capital expenditures of NA (2004 est.)
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Public debt
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69.1% of GDP (2004 est.)
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Agriculture products
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wheat, corn, sugar beets, sunflower seed, barley, alfalfa, clover, olives, citrus, grapes, soybeans, potatoes; livestock, dairy products
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Industries
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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
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Industrial production growth rate
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3.9% (2004 est.)
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Electricity production
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12.12 billion kWh (2001)
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Electricity production by source
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fossil fuel: 33.6%
hydro: 66%
other: 0.4% (2001)
nuclear: 0%
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Electricity consumption
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14.27 billion kWh (2001)
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Electricity exports
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386 million kWh (2001)
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Electricity imports
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3.386 billion kWh (2001)
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Oil production
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29,000 bbl/day (2004 est.)
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Oil consumption
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89,000 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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93.6 million bbl (1 January 2002)
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Natural gas production
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1.76 billion cu m (2001 est.)
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Natural gas consumption
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2.84 billion cu m (2001 est.)
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Natural gas exports
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0 cu m (2001 est.)
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Natural gas imports
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1.08 billion cu m (2001 est.)
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Natural gas proved reserves
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34.36 billion cu m (1 January 2002)
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Current account balance
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$-2.039 billion (2004 est.)
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Exports
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$6.355 billion f.o.b. (2004 est.)
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Exports commodities
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transport equipment, textiles, chemicals, foodstuffs, fuels
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Exports partners
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Italy 26.1%, Bosnia and Herzegovina 14.6%, Germany 12%, Slovenia 8.3%, Austria 7.9% (2003)
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Imports
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$12.86 billion f.o.b. (2003 est.)
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Imports commodities
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machinery, transport and electrical equipment, chemicals, fuels and lubricants, foodstuffs
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Imports partners
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Italy 17.9%, Germany 15.7%, Slovenia 7.4%, Austria 6.6%, France 5.3%, Russia 4.7% (2003)
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Reserves of foreign exchange gold
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$8.191 billion (2004 est.)
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Debt external
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$23.56 billion (2004 est.)
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Economic aid recipient
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ODA $66 million (2000)
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Currency
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kuna (HRK)
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Currency code
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HRK
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Exchange rates
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kuna per US dollar - 6.7035 (2003), 7.8687 (2002), 8.34 (2001), 8.2766 (2000), 7.1124 (1999)
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Fiscal year
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calendar year
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This information was reproduced in part from the CIA World Fact book.
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