ECONOMIC ENVIRONMENT IN

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1 Croatian Chamber of Economy ECONOMIC ENVIRONMENT IN C R O A T I A Croatian Business Forum Tokyo March 5, 2008

2 GEOGRAPHIC PROFILE Area: 56,538 km2 Population: 4.4 mil Coastline: 1,778km Islands: 1,185 Capital: Zagreb Distance to Vienna: 274km Distance to Budapest: 302km Currency: kuna (HRK) Exchange rate HRK/USD: (av( av. 2007) HRK/JPY: 4.585

3 ECONOMIC PROFILE 2006 MACROECONOMIC STABILITY GDP: 42.9 bn USD GDP per capita: 9,664 USD GDP growth: 4.8% Industrial output growth: 4.5% (2006), 5.6% (2007) Inflation rate: 3.2% (2006), 2.9% (2007) Average net salary: 788 USD Stable currency Long term credit rating: BBB+ Rating &Investment Information BBB Standard&Poors Baa3 Moody s

4 EXTERNAL RELATIONS Since 2000 member of the World Trade Organisation 38 Free Trade Agreements - CEFTA Member Active role in the stabilization of the region Accession negotiations with the EU Stabilization and Association Agreement (SAA) with EU opening of Croatia's accession negotiations with the EU 2005 NATO membership invitation expected - April 2008

5 PRIORITIES OF CROATIAN Membership of the EU and NATO GOVERNMENT Harmonisation of Croatia s legislation to acquis communitaire GDP growth - 6% Increase in exports and FDI s Reconstruction of Croatian Railways, energy power sector Completion of privatisation: CPF portfolio Decrease in gross external debt - 60% of GDP Increase in competitiveness Reform of judiciary Reform of health system

6 GDP GROWTH RATE BY COUNTRIES % ,1 5,6 5,2 4,8 4,3 4,1 3,8 2 1,9 1 0 Romania Bulgaria Slovakia Croatia Hungary Czech Republic Slovenia EU25 Source: Eurostat

7 INFLATION IN 2006,, ANNUAL AVERAGE BY COUNTRIES Bulgaria Romania Latvia Estonia Slovakia Hungary Lithuania CROATIA Slovenia EU-25 Czech Republic 4,4 4,3 4,0 3,8 3,2 2,5 2,2 2,1 6,6 6,6 7,3 Poland 1, % Source: WIIW, Eurostat

8 GDP STRUCTURE 2006 Industry 20% Agriculture 6% Tourism 20% Other 54% TOURISM OTHER AGRICULTURE INDUSTRY

9 INDICES OF INDUSTRIAL PRODUCTION 2000=100 indices Source: Croatian Bureau of Statistics

10 INDUSTRY 20% of GDP (2006) employs 280,000 persons (25% of total employment) 10,000 active companies main industrial branches: - food and beverages production - refined petroleum products - chemicals and pharmaceutical products - fabricated metal products - machinery - plastic and rubber products - shipbuilding (strongly export-oriented) - wood industry and furniture 12 Croatian Chamber of Economy

11 AGRICULTURE AND FOOD INDUSTRY 6% of GDP (2006) 6.5 % of total employment 84 % of cultivated land - privately owned many well-known Croatian export products: fish (canned, fresh, frozen), chocolate products and biscuits, olive oil, meat (prosciutto smoked ham) wide range of products (fish, cattle, cereals, wine, olives, sugar beet etc.) 13 Croatian Chamber of Economy

12 TOURISM revenues: over 7 bn USD (2006) 20 % of GDP (2006) 11.2 m tourists (2007) 86,404 Japanese tourists - 131,129 overnight stays (2007) 1,185 islands 50 marinas 8 national parks world cultural and natural heritage sites protected by UNESCO

13 GROWTH RATES OF TOURIST ARRIVALS AND NIGHTS SPENT IN CROATIA, 2000= % ARRIVALS NIGHTS Source: Croatian Bureau of Statistics

14 BANKING SECTOR stable and developed sector, high diversification and good quality of financial products and services 33 banks, 5 building societies state owned banks 4% private domestic banks 5% foreign-owned banks 91% Croatian National Bank central financial institution HBOR (CBRD) Croatian Bank for Reconstruction and Development state-owned investment bank

15 INFRASTRUCTURE Roads and motorways: 28,344km motorways: 1,069km under construction: Split - Ploče 96km Beli Manastir - Osijek - BiH border 98km (Vc) Railways: 2,726 km Sea Ports: 6 of national importance 2 for cargo transshipment (Rijeka, Ploče), 4 for passenger transport (Zadar, Šibenik, Split, Dubrovnik) Airports: 8 international + 2 for general aviation Pipelines: gas 2,563km oil: 601km

16 COMMODITY EXCHANGE 2007 Total 38,189 m USD Export 12,360 m USD Import 25,829 m USD m USD percentage EU countries 24, % CEFTA 4, % Other countries 9, % Source: Croatian Bureau of Statistics 19 Croatian Chamber of Economy

17 CROATIA S S MAIN TRADING PARTNERS 2007 Italy Germany 17% 13% Bosnia & Herzegowina 7% Russia 7% Austria 6% Slovenia 7% China 4% 20 Croatian Chamber of Economy

18 THE MAIN EXPORT AND IMPORT EXPORT PRODUCTS Mineral fuels and oils 15 % 2. Ships, boats and yachts 11 % 3. Electrical machines, equipment and parts 9 % 4. Machinery, appliances and parts 7 % 5. Wood and articles of wood 4 % IMPORT 1. Mineral fuels and oils 16 % 2. Machinery, appliances and parts 12 % 3. Vehicles and their parts 9 % 4. Electrical machines, equipment and parts 8 % 5. Plastics and plastic products 4 %

19 COMMODITY EXCHANGE CROATIA - JAPAN (m USD) YEAR EXPORT IMPORT TOTAL BALANCE Source: Croatian Bureau of Statistics

20 MOST TRADED COMMODITIES BETWEEN CROATIA AND JAPAN 2007 CROATIA S S EXPORT TO JAPAN % Fish, fresh or chilled 75% Fish, frozen 18% Wood sawn or chipped length 4% Tanned or dressed furskins 0.7% Yachts and other vessels for pleasure or sports 0.4% CROATIA S S IMPORT FROM JAPAN % Motor cars & vehicles 26% Printing machinery 10% Knitting machines, stitch-bonding machines 6 % Transmission apparatus for radio-broadcasting or television 4% Air-conditioning machines 4 % Source: Croatian Bureau of Statistics

21 VISITS BY JAPANESE TOURISTS Arrivals Overnight stays Source: Croatian Bureau of Statistics

22 CROATIA - JAPAN Croatian Exhibition (JETRO) - March 1998, Tokyo, Kobe Seminar on Japanese Trade and Investment in Croatia - February 2007, Zagreb Project Finance Conference in Croatia (JBIC) - April 2007, Zagreb Visits by Japanese companies Seminar on Investment Opportunities in Croatia - June 2007, Tokyo Potential cooperation: transport tourism industry agriculture

23 THE CHAMBER AND ITS SERVICES TO YOU established in 1852 more than 70,000 active members umbrella institution of the Croatian business community - represents and promotes Croatian companies interests at home and abroad 20 County Chambers, 7 Representative Offices abroad, 9 Departments, 6 Centres, 42 Professional Associations database on Croatian companies business opportunities exchange information about relevant regulations and laws in the field of economics trade missions and participation at fairs and exhibitions Permanent Court of Arbitration and Conciliation Centre - efficient system for the resolution of commercial disputes Member of ICC, Eurochambres

24 International Relations Department Contact person: Ms. Dunja Konjevod Vice President phone: fax: Rooseveltov trg Zagreb, Croatia CROATIAN CHAMBER OF ECONOMY