Back اقتصاد كرواتيا Arabic Economía de Croacia AST Эканоміка Харватыі Byelorussian Икономика на Хърватия Bulgarian Privreda Hrvatske BS Economia de Croàcia Catalan Wirtschaft Kroatiens German Οικονομία της Κροατίας Greek Economía de Croacia Spanish Économie de la Croatie French

Economy of Croatia

Economy of Croatia
The city of Zagreb is the capital and financial centre of Croatia.
CurrencyEuro (EUR, €)
1 January – 31 December
Trade organisations
EU, EEA, WTO
Country group
Statistics
PopulationDecrease 3,855,641 (2022 Est.)[3]
GDP
  • Increase $88.08 billion (nominal, 2024)[4]
  • Increase $175.27 billion (PPP, 2024)[4]
GDP rank
GDP growth
  • Increase 6.3% (2022)[5]
  • Increase 2.8% (2023)[5]
  • Increase 3.0% (2024f)[5]
GDP per capita
  • Increase $22,966 (nominal, 2024)[4]
  • Increase $45,702 (PPP, 2024)[4]
GDP per capita rank
GDP by sector
GDP by component
  • Private consumption: 60.6%
  • Public consumption: 20.0%
  • Investments: 19.3%
  • (2013)[6]
Positive decrease 3.7% (2024 Est.)[7]
Population below poverty line
Negative increase 19.3% at risk of poverty (2023)[8]
Positive decrease 28.5 low (2022)[9]
Labour force
  • Increase 1,707,050 (2022)[13]
  • Increase 64.9% (Employment Rate, 2022)[13]
Unemployment
Average gross salary
€1,710 monthly (February 2024)[18]
€1,248 monthly (February 2024)[18]
Main industries
chemicals and plastics, machine tools, fabricated metal, electronics, pig iron and rolled steel products, aluminium, paper, wood products, construction materials, textiles, shipbuilding, petroleum and petroleum refining, food and beverages, tourism
External
ExportsIncrease €24.1 billion (2022)[19]
Export goods
transport equipment, machinery, textiles, chemicals, foodstuffs, fuels
Main export partners
ImportsIncrease €41.9 billion (2022)[19]
Import goods
machinery, transport and electrical equipment; chemicals, fuels and lubricants; foodstuffs
Main import partners
FDI stock
  • Increase $43.71 billion (on-shore) (2017)[20]
  • Increase $8.473 billion (off-shore) (2017)[20]
Increase $1.0 billion (2021)[21]
Negative increase €49.55 billion (2022)[21]
Public finances

All values, unless otherwise stated, are in US dollars.

The economy of Croatia is a developed social market economy.[25][26] It is one of the largest economies in Southeast Europe by nominal gross domestic product (GDP).[27][28] It is an open economy with accommodative foreign policy, highly dependent on international trade in Europe. Within Croatia, economic development varies among its counties, with strongest growth in Central Croatia and its financial centre, Zagreb. It has a very high level of human development,[29] low levels of wealth inequality,[30] and a high standard of living.[31] Croatia's labor market has been perennially inefficient, with inconsistent business standards as well as ineffective corporate and income tax policy.[32][33]

Croatia's economic history is closely linked to its historic nation-building efforts. Its pre-industrial economy leveraged the country's geography and natural resources to guide agricultural growth. The 1800s saw to a shipbuilding boom, railroading, and industrial production. During the 1900s, Croatia entered into a planned economy (with socialism) in 1941 and a command economy (with communism) during World War II. It experienced rapid urbanization in the 1950s and decentralized in 1965, diversifying its economy before the collapse of Yugoslavia during the 1990s. The Croatian War of Independence (1991-95) curbed 21–25% of wartime GDP, leaving behind a developing transition economy. As a modern state Croatia has since turned to social capitalism, aided by ongoing European integration and globalization.[34]

The modern Croatian economy is considered high-income and dominated by its tertiary service sector, which accounts for 70% of GDP. The high levels of tourism in Croatia contributes to nearly 20% of GDP, with a total of 11.2 million tourists visiting in 2021.[35][36] Croatia is an emerging energy power in the region, with strategic investments in liquefied natural gas (LNG), geothermal power, and electric automobiles.[37][38] It supports regional economic activity via transportation networks across the Adriatic Sea and throughout Pan-European corridors. As a member of the European Union, Eurozone, and Schengen Area, it uses the euro (€) as official currency.[39][40] Croatia has free-trade agreements with many world nations and is a part of the World Trade Organization (2000) and (provisionally) the EEA (2013).

  1. ^ "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Retrieved 7 April 2023.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ "Estimate of mid-year population, households and dwellings in 2022 - Croatian Bureau of Statistics". Croatian Bureau of Statistics. 8 September 2023. Retrieved 18 April 2024.
  4. ^ a b c d "Report for Selected Countries and Subjects: April 2024". imf.org. International Monetary Fund.
  5. ^ a b c "GDP Past Annual Growth Rate & IMF Forecast". International Monetary Fund. 18 April 2024.
  6. ^ "Economic forecasts" (PDF). European Commission – European Commission. Archived (PDF) from the original on 15 May 2015.
  7. ^ "Republic of Croatia and the IMF".
  8. ^ a b c d e "Pokazatelji siromaštva i socijalne isključenosti u 2022" [Indicators of poverty and social exclusion in 2023] (PDF). Priopćenje (in Croatian and English). Zagreb: Državni zavod za statistiku. 28 April 2023. ISSN 1334-0557. Retrieved 13 April 2024.
  9. ^ "Gini coefficient of equivalised disposable income – EU-SILC survey". ec.europa.eu. Eurostat. Retrieved 7 January 2024.
  10. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 12 October 2022.
  11. ^ https://hdr.undp.org/system/files/documents/global-report-document/hdr2023-24reporten.pdf
  12. ^ Nations, United. "Inequality-adjusted HDI (IHDI)". hdr.undp.org. UNDP. Retrieved 12 October 2022.
  13. ^ a b "Aktivno stanovništvo u Republici Hrvatskoj u 2022. – prosjek godine". DZS. Retrieved 7 January 2024.
  14. ^ "Unemployment Rate for given month (March 2024)". Hzz.hr. Retrieved 19 April 2024.
  15. ^ "Unemployment by sex and age – monthly average". appsso.eurostat.ec.europa.eu. Eurostat. Retrieved 4 October 2020.
  16. ^ Aaron O'Neill (12 January 2022). "Croatia - youth unemployment rate 1999-2019". Statista. Retrieved 25 May 2022.
  17. ^ "Youth unemployment rate by sex, age (15–24) and country of birth". appsso.eurostat.ec.europa.eu. Eurostat. Retrieved 26 December 2019.
  18. ^ a b "Prosječna neto plaća u veljači 2024. iznosila 1 248 eura" [The average net salary in February 2024 amounted to 1,248 euros]. dzs.gov.hr (in Croatian). 19 April 2024. Retrieved 21 April 2024.
  19. ^ a b c d Žderić, Boro; Drempetić, Dubravka (29 May 2023). "Robna razmjena Republike Hrvatske s inozemstvom u 2022" [Merchandise exchange of the Republic of Croatia with foreign countries in 2022]. Priopćenje (in Croatian and English). Zagreb: Državni zavod za statistiku. ISSN 1334-0557. Retrieved 7 January 2024.
  20. ^ a b "Croatia". The World Factbook (2024 ed.). Central Intelligence Agency. Retrieved 4 February 2019. (Archived 2019 edition.)
  21. ^ a b c "Main macroeconomic indicators - HNB".
  22. ^ "General government debt statistics for September 2022". www.hnb.hr. Retrieved 18 February 2023.}} | revenue = 46.4% of GDP (2021)
  23. ^ "Euro area government deficit at 5.1% and EU at 4.7% of GDP". Eurostat. European Commission. Retrieved 27 April 2022.
  24. ^ "World Government Bonds - Croatia Credit Rating".
  25. ^ "Country and Lending Groups". World Bank. Archived from the original on 11 January 2018. Retrieved 10 January 2020.
  26. ^ "World Economic Situation and Prospects report 2019" (PDF). UN. Archived (PDF) from the original on 24 February 2019. Retrieved 21 January 2019.
  27. ^ "World Economic Outlook Database, October 2023". IMF.org. International Monetary Fund. 10 October 2023. Retrieved 10 October 2023.
  28. ^ "WEO Database, April 2024. Report for Selected Countries and Subjects: World, European Union". IMF.org. International Monetary Fund. 16 April 2024. Retrieved 16 April 2024.
  29. ^ "Sub-national HDI - Area Database - Global Data Lab". hdi.globaldatalab.org. Retrieved 19 July 2021.
  30. ^ "Croatia". World Economics. Retrieved 20 December 2023.
  31. ^ "Croatia - Market Overview". International Trade Administration. 4 December 2023. Retrieved 20 December 2023.
  32. ^ "Doing Business 2020: Croatia Country Profile" (PDF). World Bank Group. 1 January 2020. Retrieved 20 December 2023.
  33. ^ "Croatian Economy: Be Dynamic, Not Only in Tourism". IMF. Retrieved 20 December 2023.
  34. ^ "GDP growth (annual %) - Central Europe and the Baltics | Data". data.worldbank.org. Retrieved 26 November 2021.
  35. ^ "U 2021. godini Hrvatsku posjetilo gotovo 14 milijuna turista". Hrvatska turistička Zajednica (in Croatian). Croatian Bureau of Statistics. Retrieved 13 April 2022.
  36. ^ Orsini, Kristina; Ostojić, Vukašin. "Croatia's Tourism Industry: Beyond the Sun and Sea" (PDF). European Commission. European Union. Retrieved 18 September 2021.
  37. ^ "Croatian island eyes green energy self-sufficiency in this decade". Reuters. Reuters. 18 June 2021. Retrieved 26 November 2021.
  38. ^ "Croatia - Renewable Energy". www.trade.gov. Retrieved 26 November 2021.
  39. ^ "Nova EU direktiva: Minimalac bi mogao porasti na 4000 kuna, sindikati traže 5000". tportal.hr. Retrieved 17 October 2022.
  40. ^ "Overview". World Bank. Retrieved 17 October 2022.

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