e-third of the Croatian
territory, and one of the overriding determinants of Croatia's
long-term political and economic prospects will be the resolution of
this territorial dispute. Croatia faces monumental economic problems
stemming from: the legacy of longtime Communist mismanagement of the
economy; large foreign debt; damage during the fighting to bridges,
factories, power lines, buildings, and houses; the large refugee
population, both Croatian and Bosnian; and the disruption of economic
ties to Serbia and the other former Yugoslav republics, as well as
within its own territory. At the minimum, extensive Western aid and
investment, especially in the tourist and oil industries, would seem
necessary to salvage a desperate economic situation. However, peace
and political stability must come first; only then will recent
government moves toward a "market-friendly" economy reverse the sharp
drop in output. As of May 1994, fighting continues among Croats,
Serbs, and Muslims, and national boundaries and final political
arrangements are still in doubt.
National product:
GDP - purchasing power equivalent - $21.8 billion (1992 est.)
National product real growth rate:
-19% (1992 est.)
National product per capita:
$4,500 (1992 est.)
Inflation rate (consumer prices):
26% monthly average (1993 est.)
Unemployment rate:
21% (December 1993)
Budget:
revenues:
$NA
expenditures:
$NA, including capital expenditures of $NA
Exports:
$3.9 billion (f.o.b., 1993)
commodities:
machinery and transport equipment 30%, other manufacturers 37%,
chemicals 11%, food and live animals 9%, raw materials 6.5%, fuels and
lubricants 5% (1990)
partners:
EC countries, Slovenia
Imports:
$4.7 billion (c.i.f., 1993)
commodities:
machinery and transport equipment 21%, fuels and lubricants 19%, food
and live animals 16%, chemicals 14%, manufactured goods 13%,
miscellaneous manufactured articles 9%, raw materials 6.5%, beverages
and tobacco 1% (1990)
partners:
EC countries, Slovenia, FSU countries
External debt:
$2.6 billion (December 1993)
Industrial production:
growth rate -5.9% (1993 est.)
Electricity:
capacity:
3,570,000 kW
production:
11.5 billion kWh
consumption per capita:
2,400 kWh (1992)
Industries:
chemicals and plastics, machine tools, fabricated metal, electronics,
pig iron and rolled steel products, aluminum reduction, paper, wood
products (in