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Croatia Economy 2009
https://geographic.org/wfb2009/croatia/croatia_economy.html
SOURCE: 2009 CIA WORLD FACTBOOK

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Croatia Economy 2009
SOURCE: 2009 CIA WORLD FACTBOOK


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 6% 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. While long term growth prospects for the economy remain strong, Croatia will face significant pressure as a result of the global financial crisis. Croatia's high foreign debt, anemic export sector, strained state budget, and over-reliance on tourism revenue will result in higher risk to economic stability over the medium term.

GDP (purchasing power parity):
$73.36 billion (2008 est.)
$70 billion (2007)
$66.92 billion (2006)
note: data are in 2008 US dollars

GDP (official exchange rate):
$63.95 billion (2008 est.)

GDP - real growth rate:
4.8% (2008 est.)
5.6% (2007 est.)
4.8% (2006 est.)

GDP - per capita (PPP):
$16,100 (2008 est.)
$15,700 (2007 est.)
$14,900 (2006 est.)
note: data are in 2008 US dollars

GDP - composition by sector:
agriculture: 7%
industry: 31.6%
services: 61.4% (2008 est.)

Labor force:
1.781 million (2008)

Labor force - by occupation:
agriculture: 5%
industry: 31.3%
services: 63.6% (2008)

Unemployment rate:
14.8% (2008 est.)

Household income or consumption by percentage share:
lowest 10%: 3.4%
highest 10%: 24.5% (2003 est.)

Distribution of family income - Gini index:
29 (2008)

Investment (gross fixed):
31.5% of GDP (2008 est.)

Budget:
revenues: $23.71 billion
expenditures: $23.46 billion (2008 est.)

Public debt:
48.9% of GDP (2008 est.)

Inflation rate (consumer prices):
6.3% (2008 est.)

Central bank discount rate:
9% (31 December 2008)

Commercial bank prime lending rate:
9.33% (31 December 2008)

Stock of money:
$10.43 billion (31 December 2008)

Stock of quasi money:
$31.77 billion (31 December 2008)

Stock of domestic credit:
$47.83 billion (31 December 2008)

Market value of publicly traded shares:
$53.02 billion (31 December 2008)

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:
2.9% (2008 est.)

Electricity - production:
12.25 billion kWh (2007)

Electricity - consumption:
18.61 billion kWh (2007)

Electricity - exports:
1.451 billion kWh (2007)

Electricity - imports:
7.511 billion kWh (2007)

Oil - production:
17,580 bbl/day (2007 est.)

Oil - consumption:
101,200 bbl/day (2007 est.)

Oil - exports:
0 bbl/day (2007)

Oil - imports:
83,800 bbl/day (2007)

Oil - proved reserves:
79.15 million bbl (1 January 2008 est.)

Natural gas - production:
2.892 billion cu m (2007)

Natural gas - consumption:
3.3 billion cu m (2007)

Natural gas - exports:
751.7 million cu m (2007)

Natural gas - imports:
1.055 billion cu m (2007)

Natural gas - proved reserves:
40.9 billion cu m (1 January 2008 est.)

Current account balance:
-$6.156 billion (2008 est.)

Exports:
$12.36 billion f.o.b. (2008)

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

Exports - partners:
Italy 19.3%, Bosnia and Herzegovina 13.9%, Germany 10.2%, Slovenia 8.4%, Austria 6.2% (2007)

Imports:
$25.84 billion f.o.b. (2008)

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

Imports - partners:
Italy 16.1%, Germany 14.4%, Russia 10.1%, China 6.2%, Slovenia 6%, Austria 5.3% (2007)

Reserves of foreign exchange and gold:
$14.14 billion (31 December 2008 est.)

Debt - external:
$53.3 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$19.5 billion (2008)

Stock of direct foreign investment - abroad:
$2.1 billion (2008)

Exchange rates:
kuna (HRK) per US dollar - 4.98 (2008 est.), 5.3735 (2007), 5.8625 (2006), 5.9473 (2005), 6.0358 (2004)


NOTE: The information regarding Croatia on this page is re-published from the 2009 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Croatia Economy 2009 information contained here. All suggestions for corrections of any errors about Croatia Economy 2009 should be addressed to the CIA.






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