National economy of Croatia - industries, GDP and prosperity level
Croatia in Yugoslavia was a fairly developed territorial unit. All Enterprises and Factories that functioned on its territory had the right to choose their own business policy; they worked with investments and investors, and independently built competitive relations. Therefore, after the war, Croatia was able to restore the downswing of economy as fast as possible in 1993. Since early 1993, the country was admitted to the International Monetary Fund. Due to the fact that Croatia as a whole was involved in the war with Bosnia, this in many respects complicated the economic relations of the Republic with the World Bank, such that the Government could not count on its assistance. The fact that the Country began to privatize its production helped a little to speed up the process of improving the economy, thereby financing her budget through taxation.
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Privatization, increasing the number of export products, establishing new trade relations, automating the process and setting new standards is the key to the annual development of the industrial sector in Croatia. It is the Industrial Products that make up about 95% of the total number of Exported Goods. The main directions in the Republic as in the past are Mechanical Engineering and High-Quality Shipbuilding, Chemical, Textile and Woodworking Industries. Also widely used were the Electrical, Pharmaceutical and Oil refining Industry. It should be noted that in Croatia, large-scale work is underway to extract Bauxite, Brown Coal and Copper. The most famous Companies with a world-wide brand name were “Ericsson Nikola Tesla” and “Koncar”, the Pharmaceutical Enterprise “Pliva”, Furniture Factories “Tvin” and “Podravka”, and “Kras”, which belong to the food industry.
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