General:
The principal economic activities in the Republic
of Croatia include agriculture, the foodstuff, textile, wood and timber,
metalworking, chemical and petroleum industries, the electrical manufacturing
industry, shipbuilding, the shipping industry and tourism.
Agriculture, fishing,
forestry and food industry:
Of a total of 3.18 million hectares of agricultural
land, 63.5% is cultivated and the rest is pasture land. 80.4% of the cultivated
land is privately owned. Some world famous products of the food industry
are slavonski kulen (famous Slavonian salami), dalmatinski pr?ut (Dalmatian
smoked ham), istarski pr?ut (Istrian smoked ham) and pa?ki sir (cheese
from the Island of Pag). are currently 18 factories for fish processing
in Croatia, which produced 12,200 tonnes of various fish products in 1999.
Mariculture, i.e. fish and shellfish breeding, is becoming increasingly
important. The 1998 output of fresh-water fish amounted to about 5,800
tonnes, and salt-water fish to about 1,500 tonnes. A new production line,
tuna breeding for the Japanese market, was launched in 1997. Of a total
of 2.1 million hectares of the Croatian forests and woodland areas, 80%
are state owned and the rest are in private hands. Conifers make up 12.7
per cent of the forests, while in the remainder oak and beech are among
the more important broad-leaved species. The production of food, beverages
and tobacco generates 20.6% of Croatian GDP.
Industrial production:
The Croatian industrial sector is intensively
changing and the effects of the full scale and strategically thought out
restructuring of this sector are evident in many areas. Namely, from privatisation
to the strengthening of exports to western markets, development of new
products and innovations to existing products and manufacturing processes,
to increasing the level and standardisation of quality, satisfying environmental
protection conditions, reaching cost effectiveness, etc. . The industry
currently represents about 20% of Croatia's Gross Domestic Product, which
is getting closer to European Union levels. The value of the industry's
production level is estimated to be around 93 billion HRK (approx. 13.0
b USD) for 1999 with an employment level of 293,000, which represents
27 percent of Croatia's total workforce. Industrial goods account for
97% of Croatia's total exports.
Tourism:
Although situated in the heart of Europe and close
to Central European capitals, Croatia has maintained a well-preserved
natural environment. On its entire territory Croatia offers diverse forms
of tourism, including hunting and fishing, health tourism with 19 continental
and sea resorts, nautical tourism with 44 marinas and about 15,000 berths,
diving, religious tourism, tourism related to family farms and cruising.
Numerous cultural monuments, e.g. Dubrovnik and National Parks such as
Plitvice Lakes, are protected by UNESCO. From Istria, which is closest
to European travellers, through Opatija, a previous jet-set resort of
the European aristocracy, to Dalmatia and Dubrovnik in the South, the
Croatian coast remains attractive due to a mild climate throughout the
entire year.
Croatian Tourist
Agency
Building and Construction:
In 1999 Croatian building and construction, an
important national industry, employed 68,844 employees in 11,280 companies.
The total value of construction contracts carried out abroad amounted
to 123 million USD, 97% of which was earned in Europe. In 1998, 12,557
flats (apartments) with a total area of 1,040,000 square metres were built,
which corresponds to the average construction level in the previous three
years.
Trade:
Almost 50% of Croatian economic entities engage
in distributive trade. This activity employs 15% of the total workforce
and generates about 10% of Croatian GDP, which makes it extremely important
for the entire economy. Total revenues achieved by this branch in 1998
totalled 19 billion USD (VAT included).
Trade Agency
Education:
Croatia has a high quality education system. Croatian
university programmes, especially those for science, medicine and engineering,
meet the highest international standards, which is attested to by the
large number of Croats who have found work in reputable institutions -
hospitals, universities, institutes world-wide. In the academic year 1998/99,
about 80,000 students were enrolled in Croatian University centres.
Basic indicators:
| GDP, bn USD (estimated) |
2003. |
24.8* |
| GDP per capita, USD (estimated)
|
2003. |
5,634* |
| Population, million (estimated)
|
2001. |
4.4 |
| Industrial production (%)
|
1999. |
-1.4 |
| Inflation rate (%) |
1999/98. |
4.2 |
| Unemployment rate (%) |
2003. |
21.3 |
| Exports, mil USD |
1999. |
4.280 |
| Imports, mil USD |
1999. |
7.777 |
| Current account, mil USD
|
1999. |
-1468.5 |
| Central budget balance (%
of GDP, estimated) |
1999. |
-1.8** |
| Average monthly gross wage,
USD |
12/1999. |
600.9 |
| Exchange rate HRK:USD |
3/2003. |
7.07 |
| Exchange rate HRK:EUR |
3/2003. |
7,58 |
| CNB's discount rate (%) |
2/2003.. |
4.50 |
| CNB's foreign exchange rate
reserves, mil USD |
3/2003.. |
6,207.83* |
* Ministry of Finance estimate
**Ministry of Finance, preliminary result
Kuna
The legal currency in Croatia is kuna (Local abbreviation
kn, international abbreviation HRK), consisting of 100 smaller units,
called lipa (lp).
(The name kuna, meaning "marten", has
its origin in ancient times, when the marten's fur was used as a trade
unit. The word lipa means "linden (tree)".)
Who's Who On The Kuna Bill:
The Kuna, or marten, has a long tradition of use
in barter trade as well as pecuniary compensation in Croatia. As far back
as 1256, a local currency displaying the kuna was issued in Slavonia -
the first known use of the kuna on Croatian coins.
In Croatia today, kuna are banknotes and have
been the new form of currency for the past year. Historical Croatian personalities
are featured on one side of kuna banknote, with famous Croatian landmarks
on the reverse. On the following denominations are:
- 5 kn - Ban (Viceroy) Petar Zrinski and Knez (Duke) Fran Krsto Frankopan
- Croatian noblemen of the 17th Century; landmark: Varazdin Fortress;
- 10 kn - Juraj Dobrila - noted Croatian bishop who promoted Croatian
cultural rights and advanced the Croatian language; landmark: Amphitheater
in Pula.
- 20 kn - Ban (Viceroy) Josip Jelacic - military hero of revolution
in 1848; landmark: Eltz Castle in Vukovar, and Vucedol Dove.
- 50 kn - Ivan Gundulic - greatest Croatian poet of the 17th Century;
landmark: City of Dubrovnik.
- 100 kn - Ivan Mazuranic - first non-aristocrat to be named Ban (Viceroy);
landmark: Church of St. Vitus in Rijeka.
- 200 kn - Stjepan Radic - political leader and founder of Croatian
Peasant's Party, assassinated in the Belgrade Parliament in 1928; landmark:
Town Command in Osijek.
- 500 kn - Marko Marulic - greatest Croatian poet of the 15th and 16th
centuries; landmark: Diocletian Palace in Split and figure of Croatian
King.
- 1,000 kn - Ante Starcevic - political leader, ideologist and founder
of the Croatian Party of the Right; landmark: monument to King Tomislav
and Zagreb Cathedral.
Reprinted from Croatia Today, newsletter of the
Embassy of the Republic of Croatia in USA
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