[65] The better than expected figures during 2016 enabled the Croatian Government and with more tax receipts enabled the repayment of debt as well as narrow the current account deficit during Q3 and Q4 of 2016 [66][67] This growth in economic output, coupled with the reduction of government debt has made a positive impact on the financial markets with many ratings agencies revising their outlook from negative to stable, which was the first upgrade of Croatia's credit rating since 2007.

Hrvatski građani na radu u inozemstvu: razmatranje popisnih podataka 1971, 1981. i 1991. Accessed October 31, 2020. https://www.statista.com/statistics/350938/gross-domestic-product-gdp-in-croatia/, IMF. Unemployment reached an all-time low in 2008 when the annual average rate was 8.6%,[54] GDP per capita peaked at $16,158,[48] while public debt as percentage of GDP decreased to 29%. However, the consumer boom was disrupted in mid 1998, as a result of the bank crisis when 14 banks went bankrupt. ), Budget: Croatian economy reached pre After the collapse of socialism, Croatia went through a process of transition to a market-based economy in the 1990s, but its economy suffered badly during the Croatian War of Independence. [34][35], In 1941 the Independent State of Croatia (NDH), a World War II puppet state of Germany and Italy, was established in parts of Axis-occupied Yugoslavia. Jozo Tomašević: Rat i revolucija u Jugoslaviji 1941–1945, 2010, p. 785, Martina Dalić (2013): "Croatia: A Prolonged Crisis without Recovery" in Novotny Vitt (ed.). Economic growth in the 2000s was stimulated by a credit boom led by newly privatized banks, capital investment, especially in road construction, a rebound in tourism and credit-driven consumer spending. [92], The following table shows the main economic indicators in 1993–2017. [33] The slow rate of modernization and rural overpopulation caused extensive emigration, particularly from Dalmatia. GDP per capita is gross domestic product divided by midyear population. By 1948 almost all domestic and foreign-owned capital had been nationalized. Gross domestic product (GDP) denotes the … Economy was still traditionally based on agriculture and raising of livestock, with peasants accounting for more than half of Croatia's population. Austria 9.2%, World Economics Limited. $50.88 billion (31 December 2015 est. [29][30], The first steps towards industrialization began in the 1830s and in the following decades the construction of big industrial enterprises took place. [37] All large companies were placed under state control and the property of the regime's national enemies was nationalized. $91.28 billion (2015 est. In 1994 Croatia introduced the kuna as its currency. Croatia experienced an abrupt slowdown in the economy in 2008; economic growth was stagnant or negative in each year between 2009 and 2014, but has picked up since the third quarter of 2014, ending 2017 with an average of 2.8% growth. Its currency was the NDH kuna. ), Exports – commodities: After the war the economy began to improve, before the financial crisis of 2007–08the Croatian economy grew at 4-5% annually, incomes doubled, and economi… [31] During the 2nd half of the 19th and early 20th century there was an upsurge of industry in Croatia, strengthened by the construction of railways and the electric-power production.

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