Economy of Croatia
Croatia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Croatia may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Croatia exports around $12.36 billion and imports roughly $21.74 billion. 9.8% of population in the country are unemployed. The total number of unemployed people in Croatia is 408,149. In Croatia, 19.5% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Croatia is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 4.6% of GDP. The Gini Index of the country is 32. Croatia is experiencing good equality. The majority of citizens in Croatia fall within a narrow range of income, although some cases may show significant differences. Croatia has a Human Development Index (HDI) of 0.812. Croatia has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Croatia is 1.55. Due to strong law enforcement presence and high social responsibility, Croatia is very safe by international standards. The strength of legal rights index for Croatia is 5. Overall, it is considered to be rather inadequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient.
The currency of Croatia is Croatian kuna. The plural form of the word Croatian kuna is kunas. The symbol used for this currency is kn, and it is abbreviated as HRK. The Croatian kuna is divided into Lipa; there are 100 in one kuna.
The depth of credit information index for Croatia is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Croatia has a credit rating score of BB+, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Croatia has a credit rating score of BB, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Croatia has a credit rating score of Baa3, and the prospects of this rating are stable.
The prime lending rate of Croatia's commercial banks is 8.5. In Croatia, the institution that manages the state's currency, money supply, and interest rates is called Croatian National Bank. Locally, the central bank of Croatia is called Hrvatska narodna banka. The average deposit interest rate offered by local banks in Croatia is 2%.
Croatia has a government debt of 18.8% of the country's Gross Domestic Product (GDP), as assessed in 2012.
The corporate tax in Croatia is set at 20%. Personal income tax ranges from 12% to 40%, depending on your specific situation and income level. VAT in Croatia is 25%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Croatia is $88733 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Croatia was last recorded at $21 million. PPP in Croatia is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Croatia is 57,869 billion. Based on this statistic, Croatia is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Croatia was last recorded at $14 million. The average citizen in Croatia has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Croatia averaged -0.8% in 2014. According to this percentage, Croatia is currently experiencing modest decline. Countries that are experiencing modest decline may see a small reduction in personal consumption, employment rate, or personal income. A modest decline in GDP can signal a risky location for investments; however, some strong economic nations occasionally experience modest decline and are still safe investment locations. To read more about financial information click on finances of Croatia.
Major industries in the country are 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. The total labor force of Croatia is 1,820,230 people, wherein 9.8% of population in the country are unemployed. The total number of unemployed people in Croatia is 408,149. The Industrial Production growth rate of Croatia is -0.9%.To read more about industrial information within Croatia click on industry of Croatia.
There are 14566 km2 of arable land in Croatia, and it comprises 26% of the country's total territory. There are 15801 km2 of cultivated land in Croatia. The country's major agricultural crops and products are wheat, corn, sugar beets, sunflower seed, barley, alfalfa, clover, olives, citrus, grapes, soybeans, potatoes, livestock, dairy products.To read more about agriculture click on agriculture of Croatia.