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Economic Situation in Croatia

Croatia belongs to a group of countries with small and open economies that are strongly connected to other foreign markets. The priority of Croatia's economic policy has been the development of a stable and market-oriented economy that is capable of competing on the international market, the constant strengthening of macro-economic stability and the continuation of structural reforms. In this context, particular importance is being attached to the creation of a favourable business environment oriented to the framework conditions found in the European Union, the expansion of the market economy and to the supporting of private investments.

Croatia's accession to NATO in early 2009 has led to even closer ties with the West. The accession negotiations with the EU are also continuing to make progress. As things currently stand, Croatia's accession to the EU is set to take place in approx. 2013. By means of strict cost-cutting measures, the government is making efforts to get to grips with the country's high foreign debt, completely forgoing aid from the IMF or the World Bank.


Croatia in Figures

Area
56.594 km²
Population 2009
4.43 million
Population density 78 inhabitants /sqm
Business languages Croatian, English, German
Membership of regional
economic integration organization CEFTA

Currency Kuna (K), 1K = 100 Lipa
Exchange rate Sept. 2010 1 Euro = 7.2927 K
Gross domestic product GDP 2009 € 45.5 billion
Per capita GDP € 10,248
National deficit (% of GDP) 37,7%
Unemployment rate, average 2009 14,5%
Monthly gross salary, average 2009 € 1,040
Exported goods 2009 € 7.6 billion
Imported goods 2009 € 16,3 billion
Agreement with the EU Stabilization and Association Agreement, in force since 1/2/05; application for EU membership made on 21/2/03 (since 18/6/04 status of an applicant country; accession negotiations started on 3/10/05)

Population 2009

4.43 million