Economy of Croatia The city of
Zagreb is the capital and financial centre of Croatia.
Currency Euro (EUR, €)1 January – 31 December Trade organisations
EU , EEA , WTO Country group
Population 3,861,967 (2023 est.)[ 3] GDP
$88.08 billion (nominal, 2024)[ 4]
$175.27 billion (PPP , 2024)[ 4]
GDP rank GDP growth
6.3% (2022)[ 5]
2.8% (2023)[ 5]
3.9% (2024f) [ 5]
GDP per capita
$22,966 (nominal, 2024)[ 4]
$45,702 (PPP, 2024)[ 4]
GDP per capita rank
GDP by sector
1.8% (August 2024)[ 7] 19.3% at risk of poverty (2023)
[ 8]
28.5 low (2022)[ 9] 50 out of 100 points (2024)[ 13] (57th )Labour force
1,707,050 (2022)[ 14]
70.7% employment rate (2023)[ 15]
Unemployment Average gross salary
€1,834 monthly (March 2024)[ 19] €1,326 monthly (March 2024)[ 19] 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, tourismExports $24.70 billion (2023)[ 20] Export goods
transport equipment, machinery , textiles, chemicals , foodstuffs , fuels Main export partners
Imports $42.75 billion (2023)[ 20] Import goods
machinery, transport and electrical equipment ; chemicals, fuels and lubricants ; foodstuffs Main import partners
$43.71 billion (on-shore) (2017)[ 22]
$8.473 billion (off-shore) (2017)[ 22]
$1.0 billion (2021)[ 23] €49.55 billion (2022)[ 23]
63.0% of GDP (2023)[ 23]
€31 billion (2022)[ 24]
HRK -12.438 billion deficit (2021)[ 25]
-2.9% of GDP (2021)[ 25]
Revenues 46.4% of GDP (2021)[ 25] Expenses 49.2% of GDP (2021)[ 25] Economic aid
Scope:[ 33]
BBB+
Outlook: Positive
€27.8 billion (December 2022)[ 34] All values, unless otherwise stated, are in US dollars .
The economy of Croatia is a highly developed social market economy .[ 35] [ 36] It is one of the largest economies in Southeast Europe by nominal gross domestic product (GDP).[ 37] [ 38] 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,[ 39] low levels of wealth inequality,[ 40] and a high standard of living .[ 41] Croatia's labor market has been perennially inefficient, with inconsistent business standards as well as ineffective corporate and income tax policy .[ 42] [ 43]
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.[ 44]
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 20.6 million tourists visiting in 2023.[ 45] [ 46] Croatia is an emerging energy power in the region, with strategic investments in liquefied natural gas (LNG ), geothermal power, and electric automobiles.[ 47] [ 48] 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.[ 49] [ 50] Croatia has free-trade agreements with many world nations and is a part of the World Trade Organization (2000) and the EEA (2013).
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^ a b {{|title=Robna razmjena Republike Hrvatske s inozemstvom u 2023. |journal=Priopćenje |date=29 May 2024 |url=https://podaci.dzs.hr/2024/hr/77062-date=7 January 2024 |trans-title=Merchandise exchange of the Republic of Croatia with foreign countries in 2022 |publisher=Državni zavod za statistiku |location=Zagreb |language=Croatian, English |issn=1334-0557}}
^ a b 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 .
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