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 | 1.744 million (2023 est.) |
|---|---|
| Industrial production growth rate | 0.56% (2023 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 | 21.65% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | euros (EUR) per US dollar - |
| Exchange rates 2023 | 0.925 (2023 est.) |
| Exchange rates 2022 | 0.95 (2022 est.) |
| Exchange rates 2021 | 0.845 (2021 est.) |
| Exchange rates 2020 | 0.876 (2020 est.) |
| Exchange rates 2019 | 0.893 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $3.176 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $29.726 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $28.309 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $635.97 million (2023 est.) |
| Current account balance 2022 | -$2.621 billion (2022 est.) |
| Current account balance 2021 | $557.487 million (2021 est.) |
| Public debt | |
| Public debt 2022 | 83% of GDP (2022 est.) |
| Budget | |
| Revenues | $3.678 billion (2022 est.) |
| Expenditures | $3.662 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 7.2% of GDP (2023 est.) |
| Remittances 2022 | 7.52% of GDP (2022 est.) |
| Remittances 2021 | 7.22% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.1% (2021 est.) |
| Highest 10% | 22.3% (2021 est.) |
| Average household expenditures | |
| On food | 19.3% of household expenditures (2022 est.) |
| On alcohol and tobacco | 7.7% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $46.811 billion (2023 est.) |
| Imports 2022 | $46.769 billion (2022 est.) |
| Imports 2021 | $36.259 billion (2021 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 2023 | $46.811 billion (2023 est.) |
| Imports 2022 | $46.769 billion (2022 est.) |
| Imports 2021 | $36.259 billion (2021 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) 2023 | $158.698 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $153.625 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $143.189 billion (2021 est.) |
| GDP (official exchange rate) | $84.394 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $41,100 (2023 est.) |
| Real GDP per capita 2022 | $39,800 (2022 est.) |
| Real GDP per capita 2021 | $36,900 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 3.4% (2023 est.) |
| Industry | 21% (2023 est.) |
| Services | 59.1% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 57.3% (2023 est.) |
| Government consumption | 21.3% (2023 est.) |
| Investment in fixed capital | 22.5% (2023 est.) |
| Investment in inventories | 0.8% (2023 est.) |
| Exports of goods and services | 52.9% (2023 est.) |
| Imports of goods and services | -54.8% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 6.06% (2023 est.) |
| Unemployment rate 2022 | 6.96% (2022 est.) |
| Unemployment rate 2021 | 7.61% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 19.2% (2023 est.) |
| Male | 17.3% (2023 est.) |
| Female | 22.3% (2023 est.) |
All Important Facts about Croatia
Want to know more about Croatia? Check all different factbooks for Croatia below.
