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Economy of Croatia and business opportunities

Economy of Croatia

Economy of Croatia is a service-based economy with the tertiary sector accounting for 70% of total gross domestic product (GDP). 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. After the war the economy began to improve, before the financial crisis of 2007-08 the Croatian economy grew at 4-5% annually, incomes doubled, and economic and social opportunities dramatically improved.

Croatia joined the World Trade Organization in 2000, NATO in 2009 and became a member of the European Union on 1 July 2013. Croatian economy was badly affected by the financial crisis which, together with slow progress of economic reforms, resulted in six years of recession and a cumulative decline in GDP of 12,5%. Croatia formally emerged from the recession with 3 continuous quarters of GDP growth in Q4 2014 (0,3%), Q1 2015 (0,5%) and Q2 2015 (1,2%). Predictions are that real GDP growth will gradually rise to 2.1% in 2016.

The industrial sector with exports of over €1 billion annually is dominated by shipbuilding which accounts for over 10% of exported goods. Food processing and chemical industry also account for significant portions of industrial output and exports. Industrial sector represents 27% of Croatia's total economic output while agriculture represents 6%. Industrial sector is responsible for 25% of Croatia's GDP, with agriculture, forestry and fishing accounting for the remaining 5% of Croatian GDP.

Tourism is traditionally a notable source of income, particularly during the summer months, but also more recently during the winter months as well, due to an increase in popularity of snow sports such as skiing. With over 14 million tourists annually, tourism generates revenue in excess of €8 billion. Croatia is ranked among the top 20 most popular tourist destinations in the world, and was voted world's top tourism destination in 2005 by Lonely Planet.

Sectors

Tourism

Tourism is a notable source of income during the summer and a major industry in Croatia. It dominates the Croatian service sector and accounts for up to 20% of Croatian GDP. Annual tourist industry income for 2011 was estimated at €6.61 billion. Its positive effects are felt throughout the economy of Croatia in terms of increased business volume observed in retail business, processing industry orders and summer seasonal employment. The industry is considered an export business, because it significantly reduces the country's external trade imbalance. Since the conclusion of the Croatian War of Independence, the tourist industry has grown rapidly, recording a fourfold rise in tourist numbers, with more than 10 million tourists each year.

Agriculture

Croatian agricultural sector subsists from exports of blue water fish, which in recent years experienced a tremendous surge in demand, mainly from Japan and South Korea. Croatia is a notable producer of organic foods and much of it is exported to the European Union. Croatian wines, olive oil and lavender are particularly sought after.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Croatia"

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This section contains economy and business opportunities and from Croatia.
Croatia Economy Croatian Economy, business opportunities in Croatia.
Summary:
Construction Of Replacement Family Houses In The Area Of ​​Sisak (Ulica Nikole Šipuša 1, Posavska Ulica 51, Jazvenik 39, Ljudevita Gaja 12)
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Performing Works On The Reconstruction Of The Sveti Ivan Žabno - Bjelovar Section (18 Km), On The L203 Križevci - Kloštar Line
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
30 Apr 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Alcoholic Beverages For Catering And Trade
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
22 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Technical And Administrative Support Services In Project Management And Promotion Improvement Of The Infrastructure Of The Port Of Rijeka – Rijeka Pool And Bulk Cargo Terminal In Bakro
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
03 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Construction And Equipping Of Facilities For Sorting Separately Collected Municipal Waste In Slavonski Brod
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
06 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Optoelectronic Equipment
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
03 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Special Vehicle-Navlakač; Special Vehicle-Smetlar 8M3
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
17 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
The Service Of Creating Project Documentation For The Construction Of Primary Schools And Halls
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
17 May 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Coin Counters
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
18 Apr 2024
 
 
 
Summary:
Hospitality Equipment, Laundry Equipment And Space Maintenance Equipment
Country:
Croatia
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
18 Apr 2024
 
 
 

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