Flag description: red, white, and blue horizontal bands with Croatian coat of arms (red and white checkered)
@Croatia:Economy
Economy-overview: Before the dissolution of Yugoslavia, the Republic of Croatia, after Slovenia, was the most prosperous and industrialized area, with a per capita output perhaps one-third above the Yugoslav average. Croatia faces considerable economic problems stemming from: the legacy of longtime communist mismanagement of the economy; damage during the internecine fighting to bridges, factories, power lines, buildings, and houses; the large refugee and displaced population, both Croatian and Bosnian; and the disruption of economic ties. Western aid and investment, especially in the tourist and oil industries, would help restore the economy. The government has been successful in some reform efforts-partially macroeconomic stabilization policies-and it has normalized relations with its creditors. Yet it still is struggling with privatization of large state enterprises and with bank reform.
GDP: purchasing power parity-$22.7 billion (1997 est.)
GDP-real growth rate: 4.4% (1997 est.)
GDP-per capita: purchasing power parity-$4,500 (1997 est.)
GDP-composition by sector: agriculture: 12% industry: 24% services: 64% (1995 est.)
Inflation rate-consumer price index: 3.7% (1997 est.)
Labor force: total: 1.444 million (1995) by occupation: industry and mining 31.1%, agriculture 4.3%, government 19.1% (including education and health), other 45.5% (1993)
Unemployment rate: 15.9% (yearend 1997 est.)