Croatia PESTLE Insights – A Macroeconomic Outlook Report

Financial intermediation, real estate, and business activities contributed 22.1% to the gross value added (GVA) in 2022, followed by wholesale, retail, and hotel activities (20.3%), and mining, manufacturing, and utilities activities (17.7%). In nominal terms, the three sectors are expected to grow by 9.2%, 9.1% and 9.1%, respectively, in 2023.

Zagreb and Split are major regions in Croatia, accounting for approximately 47.5% of the country’s GDP and 41.9% of its population as of 2022, according to MarketLine.

Scope

– In August 2023, the Croatian government announced its commitment to invest EUR77.5 million (approximately $84 million) in three key transport infrastructure projects.

Reasons to buy

- Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

- PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

- Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

- This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.

Companies mentioned

Agrokor

Optima

Konzum

Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape

Outlook

List of Tables

Exhibit 1: Croatia’s performance in terms of its country risk analysis in comparison to East Europe and World average

Exhibit 2: Performance overview (score: 0-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: CRO stock index, (November 2022 – November 2023)

Exhibit 5: Key sectors’ contribution to the economy

Exhibit 6: FDI inflows, FDI outflows, FDI inward stock and FDI outward stock (2018-22)

Exhibit 7: Greenfield FDI projects and net cross border M&A deals (2018-22)

Exhibit 8: Key infrastructure indicators

Exhibit 9: Real GDP and household consumption growth rate (2018-25f)

Exhibit 10: Real GDP growth rate comparison (2022)

Exhibit 11: Volume of exports and imports growth (2018-25f)

Exhibit 12: Current account balance (2018-25f)

Exhibit 13: Top three commodity exports, % of total exports (2018-22)

Exhibit 14: Mineral fuels, mineral oils and products of their distillation export, % of world total (2022)

Exhibit 15: Interest rates (October 2018 – October 2023)

Exhibit 16: Exchange rate and inflation (2018-25f)

Exhibit 17: General government deficit (2018-25f)

Exhibit 18: General government debt (2018-25f)

Exhibit 19: Unemployment rate (2018-25f)

Exhibit 20: Average annual wages (2018-25f)

Exhibit 21: Labor cost index (2018-25f)

Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)

Exhibit 23: Age-group share of total population (2005, 2015, 2025f)

Exhibit 24: Gender split (1995, 2005, 2015, 2025f)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022)

Exhibit 26: Number of patents granted per million population (2022)

Exhibit 27: High-technology exports, % of manufactured exports (2021)

Exhibit 28: Rule of law (rankings) 2023

Exhibit 29: Corruption perceptions index (rankings) (2022)

Exhibit 30: Renewable energy capacity (2017-21)

Exhibit 31: CO2 emissions (2018-22)

List of Figures

List of Figures

Exhibit 1: Croatia’s performance in terms of its country risk analysis in comparison to Eastern Europe and the World average

Exhibit 2: Performance overview (score: 1-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: CRO stock index

Exhibit 5: Exchange rate, daily basis (October 2021 – October 2022)

Exhibit 6: Key sectors’ contribution to the economy

Exhibit 7: FDI inflows to Croatia, FDI outflows from Croatia, and FDI inward stock, FDI outward stock (2017-21)

Exhibit 8: Value and number of Greenfield FDI projects in Croatia and of net cross border M&As purchases in Croatia (2017-21)

Exhibit 9: Key infrastructure indicators

Exhibit 10: Real GDP and household consumption growth rate (2017-24f)

Exhibit 11: Real GDP growth rate comparison (2021)

Exhibit 12: Export, import and trade balance (2017-24f)

Exhibit 13: Current account balance (2017-24f)

Exhibit 14: Top three commodity exports, % of total exports (2017-21)

Exhibit 15: Vehicle exports and parts thereof, % of total exports (2021)

Exhibit 16: Interest rates (November 2017 – November 2022)

Exhibit 17: Exchange rate and inflation (2017-2024f)

Exhibit 18: Public finance (2017-24f)

Exhibit 19: General government debt (2017-24f)

Exhibit 20: Unemployment rate (2017-24ff)

Exhibit 21: Average annual wages (2017-24f)

Exhibit 22: Labor cost index (2017-24f)

Exhibit 23: Rural/urban share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 25: Gender split (1995, 2005, 2015, 2025)

Exhibit 26: Internet users % of total population, mobile penetration rate and broadband penetration rate (2020)

Exhibit 27: Number of patents granted per million population (2020)

Exhibit 28: High-technology exports (% of manufactured exports) (2020)

Exhibit 29: Doing business in Croatia (2021)

Exhibit 30: Corruption perceptions index (rankings) (2021)

Exhibit 31: CO2 emissions (2017-21)

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