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The lands that today comprise Croatia were part of the Austro-Hungarian Empire until the close of World War I. In 1918, the Croats, Serbs, and Slovenes formed a kingdom known after 1929 as Yugoslavia. Following World War II, Yugoslavia became a federal independent Communist state under the strong hand of Marshal TITO. Although Croatia declared its independence from Yugoslavia in 1991, it took four years of sporadic, but often bitter, fighting before occupying Serb armies were mostly cleared from Croatian lands, along with a majority of Croatia's ethnic Serb population. Under UN supervision, the last Serb-held enclave in eastern Slavonia was returned to Croatia in 1998. In April 2009, Croatia joined NATO; Croatia signed the EU Accession Treaty in December 2011 and ratified the Treaty in January, 2012. Croatia will become a member after all 27 EU members ratify the treaty, with a target date of July 2013.


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Economy

Economy - overview
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.

Gdp (purchasing power parity) World Ranking: 79
$81.36 billion (2011 est.)
$81.4 billion (2010 est.)
$82.38 billion (2009 est.)
Note Data are in 2011 US dollars

Gdp (official exchange rate)
$63.84 billion (2011 est.)

Gdp - real growth rate World Ranking: 197
0% (2011 est.)
-1.2% (2010 est.)
-6% (2009 est.)

Gdp - per capita (ppp) World Ranking: 66
$18,400 (2011 est.)
$18,400 (2010 est.)
$18,600 (2009 est.)
Note Data are in 2011 US dollars

Gdp - composition by sector
Agriculture 5.4%
Industry 25.5%
Services 69.1% (2011 est.)

Labor force World Ranking: 125
1.717 million (2011 est.)

Labor force - by occupation
Agriculture 5%
Industry 31.3%
Services 63.6% (2008)

Unemployment rate World Ranking: 157
17.7% (2011 est.)
17.6% (2010 est.)

Population below poverty line
18% (2009)

Household income or consumption by percentage share
Lowest 10% 3.3%
Highest 10% 27.5% (2008 est.)

Distribution of family income - gini index World Ranking: 125
27 (2009)
29 (1998)

Investment (gross fixed) World Ranking: 93
20.1% of GDP (2011 est.)

Budget
Revenues $30.13 billion
Expenditures $26.31 billion (2011 est.)

Taxes and other revenues World Ranking: 25
47.2% of GDP (2011 est.)

Budget surplus (+) or deficit (-) World Ranking: 16
6% of GDP (2011 est.)

Public debt World Ranking: 70
43.9% of GDP (2011 est.)
58.2% of GDP (2010 est.)

Inflation rate (consumer prices) World Ranking: 31
2.3% (2011 est.)
1.1% (2010 est.)

Central bank discount rate World Ranking: 33
7% (31 December 2011 est.)
9% (31 December 2010 est.)

Commercial bank prime lending rate World Ranking: 90
9.68% (31 December 2011 est.)
10.38% (31 December 2010 est.)

Stock of narrow money World Ranking: 79
$9.282 billion (31 December 2011 est.)
$8.827 billion (31 December 2010 est.)

Stock of broad money World Ranking: 70
$41.83 billion (31 December 2011 est.)
$42.36 billion (31 December 2010 est.)

Stock of domestic credit World Ranking: 65
$51.81 billion (31 December 2011 est.)
$49.39 billion (31 December 2010 est.)

Market value of publicly traded shares World Ranking: 61
$21.8 billion (31 December 2011)
$24.91 billion (31 December 2010)
$25.64 billion (31 December 2009)

Agriculture - products
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

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 World Ranking: 146
0.3% (2011 est.)

Electricity - production World Ranking: 81
14.67 billion kWh (2010 est.)

Electricity - consumption World Ranking: 69
18.87 billion kWh (2010 est.)

Electricity - exports
1.916 billion kWh (2010 est.)

Electricity - imports
6.6 billion kWh (2010 est.)

Oil - production World Ranking: 81
13,780 bbl/day (2010 est.)

Oil - consumption World Ranking: 87
68,510 bbl/day (2010 est.)

Oil - exports World Ranking: 82
36,080 bbl/day (2010 est.)

Oil - imports World Ranking: 79
67,660 bbl/day (2010 est.)

Oil - proved reserves World Ranking: 77
66 million bbl (1 January 2011 est.)

Natural gas - production World Ranking: 55
2.507 billion cu m (2010 est.)

Natural gas - consumption World Ranking: 75
2.974 billion cu m (2010 est.)

Natural gas - exports World Ranking: 41
439 million cu m (2010 est.)

Natural gas - imports World Ranking: 59
971.2 million cu m (2010 est.)

Natural gas - proved reserves World Ranking: 71
31.58 billion cu m (1 January 2011 est.)

Current account balance World Ranking: 150
-$2.4 billion (2011 est.)
-$947.3 million (2010 est.)

Exports World Ranking: 85
$12.28 billion (2011 est.)
$12.07 billion (2010 est.)

Exports - commodities
Transport equipment, machinery, textiles, chemicals, foodstuffs, fuels

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

Imports World Ranking: 75
$20.4 billion (2011 est.)
$19.96 billion (2010 est.)

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

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

Reserves of foreign exchange and gold World Ranking: 68
$14.48 billion (31 December 2011 est.)
$14.13 billion (31 December 2010 est.)

Debt - external World Ranking: 53
$66.3 billion (31 December 2011 est.)
$61.62 billion (31 December 2010 est.)

Stock of direct foreign investment - at home World Ranking: 60
$33.97 billion (31 December 2011 est.)
$32.88 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad World Ranking: 61
$5.741 billion (31 December 2011 est.)
$5.641 billion (31 December 2010 est.)

Exchange rates
Kuna (HRK) per US dollar -
5.3439 (2011 est.)
5.498 (2010 est.)
5.2692 (2009)
4.98 (2008)
5.3735 (2007)

Fiscal year
Calendar year


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Croatia (Zagreb):
Country Flag
Country Locator

GPS points from Croatia (Zagreb)

square Stedrica Dubrovacko-neretvanska Zupanija

square Kordica Brdo Sisacko-moslavacka Zupanija

square (( Velika Lesnica )) Primorsko-goranska Zupanija

square Stanica Gornji Zvecaj Karlovacka Zupanija

square Kunic Dubrovacko-neretvanska Zupanija

square Bijeli Vrh Licko-senjska Zupanija

square Ober Splitsko-dalmatinska Zupanija

square Ostra Primorsko-goranska Zupanija




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