Croatia - Economy
How is the economy of Croatia? Based on the information we have, Croatia has a tourism-based economy that was one of the hardest hit by COVID-19 economic disruptions; newest euro user since 2023, helping recover from a 6-year recession; public debt increases due to COVID-19 and stimulus packages; weak exports; continuing emigration; new liquefied natural gas import terminal. Key agricultural products in this country include: maize, wheat, maize, sugar beets, milk, barley, soybeans, sunflower seeds, grapes, pork (2022).
More about the economy of Croatia
| Labor force | 1.732 million (2022 est.) |
|---|---|
| Industrial production growth rate | 2.69% (2022 est.) |
| 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 |
| Population below poverty line | 18% (2021 est.) |
| Taxes and other revenues | 20.13% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | euros (EUR) per US dollar - |
| Exchange rates 2022 | 7.16 (2022 est.) |
| Exchange rates 2021 | 6.36 (2021 est.) |
| Exchange rates 2020 | 6.614 (2020 est.) |
| Exchange rates 2019 | 6.623 (2019 est.) |
| Exchange rates 2018 | 6.279 (2018 est.) |
| Debt - external | |
| Debt - external 2019 | $48.263 billion (2019 est.) |
| Debt - external 2018 | $51.176 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2022 | $29.726 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $28.309 billion (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $23.254 billion (2020 est.) |
| Current account balance | |
| Current account balance 2022 | -$1.464 billion (2022 est.) |
| Current account balance 2021 | $2.082 billion (2021 est.) |
| Current account balance 2020 | -$184.775 million (2020 est.) |
| Public debt | |
| Public debt 2021 | 91% of GDP (2021 est.) |
| Public debt 2020 | 98.78% of GDP (2020 est.) |
| Public debt 2019 | 81.68% of GDP (2019 est.) |
| Budget | |
| Revenues | $212.81 billion (2019 est.) |
| Expenditures | $211.069 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | 0.8% (of GDP) (2017 est.) |
| Remittances | |
| Remittances 2022 | 7.53% of GDP (2022 est.) |
| Remittances 2021 | 7.28% of GDP (2021 est.) |
| Remittances 2020 | 7.25% of GDP (2020 est.) |
| Household income | |
| Lowest 10% | 2.9% |
| Highest 10% | 22.3% (2020 est.) |
| Average household expenditures | |
| On food | 19.6% of household expenditures (2021 est.) |
| On alcohol and tobacco | 6.6% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $46.307 billion (2022 est.) |
| Imports 2021 | $36.331 billion (2021 est.) |
| Imports 2020 | $27.954 billion (2020 est.) |
| Imports (partners) | Italy 14%, Germany 12%, Slovenia 11%, Hungary 7%, US 7% (2022) |
| Comodities Imports force | natural gas, refined petroleum, electricity, garments, cars (2022) |
| Exports | |
| Imports 2022 | $46.307 billion (2022 est.) |
| Imports 2021 | $36.331 billion (2021 est.) |
| Imports 2020 | $27.954 billion (2020 est.) |
| Exports (partners) | Italy 13%, Slovenia 11%, Germany 11%, Hungary 10%, Bosnia and Herzegovina 9% (2022) |
| Comodities Exports force | refined petroleum, electricity, natural gas, garments, wood (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $132.256 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $124.363 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $109.296 billion (2020 est.) |
| GDP (official exchange rate) | $71.6 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $34,300 (2022 est.) |
| Real GDP per capita 2021 | $32,100 (2021 est.) |
| Real GDP per capita 2020 | $27,000 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 3.7% (2017 est.) |
| Industry | 26.2% (2017 est.) |
| Services | 70.1% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 57.3% (2017 est.) |
| Government consumption | 19.5% (2017 est.) |
| Investment in fixed capital | 20% (2017 est.) |
| Investment in inventories | 0% (2017 est.) |
| Exports of goods and services | 51.1% (2017 est.) |
| Imports of goods and services | -48.8% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2022 | 6.96% (2022 est.) |
| Unemployment rate 2021 | 7.61% (2021 est.) |
| Unemployment rate 2020 | 7.51% (2020 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 23.6% (2021 est.) |
| Male | 21.8% |
| Female | 26.3% |
All Important Facts about Croatia
Want to know more about Croatia? Check all different factbooks for Croatia below.
