Country profile - Distinguishing factors (Croatia)

SOER 2010 Country profile (Deprecated)

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Essential features of the Croatian economy

In the past five years, the average real growth of gross domestic product (GDP) exceeded 4% per year (Table 1). In 2008, GDP per capita was EUR 10 681, while GDP growth compared to 2007 was 2.4%. The slowdown in the economic growth that began in the second half of 2008 is expected to continue in 2009, giving a 2% growth projection for 2009. Croatia is currently at the level of just slightly above 50% of the average European per capita income. Although falling, unemployment remains one of the biggest problems for the Croatian economy. The Services and Industry sectors are dominant in the structure of the GDP (Figure 1).

Table 1. Main economic indicators for the 2004 – 2008 period

	2004	2005	2006	2007	2008
GDP, current prices (EUR billion)	32.8	35.7	39.1	42.8	47.4
GDP, real growth rates (%)	4.2	4.2	4.7	5.6	2.4
[1]Unemployment rate (%)	13.8	12.7	11.2	9.6	8.3
[2]Inflation (%)	2.1	3.3	3.2	2.9	6.1