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Croatia March,2009

Croatia March,2009. Economic indicators.

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Croatia March,2009

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  1. Croatia March,2009

  2. Economic indicators The Croatian economy is registering optimistic results; thanks to the growing domestic demand stimulated by the recent credit boom led by newly privatized and foreign-capitalized banks, capital investment (mainly in construction of roads), increases in tourism, and gains by small and medium-sized private enterprises. The country recorded a GDP growth rate of 4.3% in 2005, 4.8% in 2006, 5.6% en 2007. Nevertheless the IMF forecasts a 4.7% GDP growth rate in 2008. The inflation is under control; remaining 2.3% during 2007. In order to streamline the country's economy, the government of Croatia has tightened its budget, started privatization and adopted policies favoring opening of the country's economy to the international trade. Croatian faces a high unemployment rate (16% of the active population).

  3. Total Population (million):4.44 Annual growth rate:-0.13% Density:79 inhab./km² Urban population:56.76% Population of principal settlements:Zagreb (691724); Split (188694); Rijeka (143800); Osijek (90411); Zadar (69556); Slavonski Brod (58642) Ethnic, Origins: Official Language:Croatian. Other languages spoken:The country has national minorities; Serb, Slovenian are spoken, as well as Italian, specially along the sea side, German and Hungarian. Otherwise, especially in bigger cities and in tourist resorts along the coast a lot of people do understand at least the basics of English, Italian and German. Business language:English (particularly used in the region of the capital Zagreb). Religion:Catholics 87.83%, Orthodox 4.4%, Moslems 1.3%, Protestants 0.3%, Others 6.17%. Literacy rate:98.15%

  4. Economy

  5. Economy Activities

  6. Foreign Trade Croatia joined the WTO in 2000 and has also signed an Agreement of Association with the European Union in 2001.Croatia is heavily dependent on foreign trade; its share in the country's GDP was 104.7% in 2006. Croatia's top three export partners are: Italy, Bosnia and Germany; while as its top three import partners are: Italy, Germany and Russia. Croatia mainly exports mineral fuels & oils, ships & boats, electric & mechanical equipment & machinery, and wood & wooden articles; while as the products mainly imported are mineral fuels & oils, electric & mechanical equipment & machinery and vehicles. The most promising sectors in the country are tourism, building & construction, telecommunications, and the retail sector.

  7. Foreign Trade

  8. Main Exporter and Importer

  9. Currency

  10. Tax rates Consumption taxes • Tax rate 22% Reduced tax rate • 0% on bread, milk, technical and educational books, medecines (approved by the national state health insurance office), surgical material for implants, scientific magazines, national film department.10% on housing services • Other consumption taxes • There are excise taxes on oil based-products, tobacco, alcohol drinks, soft drinks, coffee, personal cars and luxuries. Some Local Authorities also impose taxes (3% on the selling price of drinks in catering activities, taxes on the advertisement).

  11. Tax rates Corporate taxes • Tax rate for resident companies • Tax rate on long-term capital gains • Capital gains are included in taxable income and subject tot tax at the normal corporate income tax rate. • System governing groups of companies and dividends paid by subsidiaries to their parent companies • A 15% withholding tax is imposed on dividends paid by Croatian companies to foreign legal entities. • Tax rate on branches • Branches of foreign companies are taxed at a rate of 20% only on their income derived from Croatia.

  12. Locate U.S. products, services, or business partners Introduce your company to thousands of qualified U.S. companies at local and U.S. trade shows PEOP - Pan European Oil Pipeline Constanta to Trieste Oil ProjectMinisters of Romania, Serbia, Croatia, Slovenia, Italy & EU Energy Commissioner signed a ministerial declaration on the PEOP to supply oil from the Caspian to the European consumer market (Zagreb, Croatia, April 3, 2007) • Trade specialists in 108 U.S. cities and more than 150 posts in 80 countries worldwide... We can...

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