In 2009, economic

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In 2009, economic

Post by kosovohp on Mon Nov 01, 2010 4:11 am

In 2009, economic output was dominated by the service sector which accounted for 73,6% percent of GDP, followed by the industrial sector with 20,5% and agriculture accounting for 5,9% of GDP.[71] According to 2004 data, 2.7 percent of the workforce were employed in agriculture, 32.8 percent by industry and 64.5 in services.[1][72]

The industrial sector is dominated by shipbuilding, food processing, pharmaceuticals, information technology, biochemical and timber industry. Tourism is a notable source of income during the summers, with over 11 million foreign tourists in 2008 generating a revenue of €8 billion.[73] Croatia is ranked as the 18th most popular tourist destination in the world.[73] In 2008 Croatia exported goods to the value of $14.4 billion (FOB) ($26.4 billion including service exports).[73]

The Croatian state still controls a significant part of the economy, with government expenditure accounting for as much as 40% of GDP.[64] Some large, state-owned industries, such as the country's shipyards, continue to rely on government subsidies but with EU membership looming, Croatia is forced to restructure debt ridden shipyards as it is a prerequisites for Croatia before it joins the EU. Subsidies for loos making industries also reduce needed investments in to education and technology needed to ensure the economy's long-term competitiveness.[64]

Of particular concern is the backlogged judiciary system, combined with inefficient public administration, especially issues of land ownership and corruption. Another main problem includes the large and growing national debt which has reached over 34 billion euro or 89.1 per cent of the nations gross domestic product.[74] Because of these problems, studies show that the population of Croatia generally has negative expectations of the country's economic future.

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