ZAGREB, April 16 (Hina) - Croatia's Gross Domestic Product (DGP) in 2002 totalled 176.4 billion kuna (expressed in current prices) or US$22.4 billion, which is the first time GDP exceeded the amount of US$5,000 per capita.
ZAGREB, April 16 (Hina) - Croatia's Gross Domestic Product (DGP) in
2002 totalled 176.4 billion kuna (expressed in current prices) or
US$22.4 billion, which is the first time GDP exceeded the amount of
US$5,000 per capita. #L#
Based on figures from the 2001 census, last year's per capita GDP
totalled US$5,056.
Per capita GDP in 2002 amounted to US$4,403.
Data from the Central Bureau of Statistics show that last year's GDP
increased by 5.2% in real terms, which is the highest increase in
the last five years.
Partially due to changes in the value of the dollar, the increase of
GDP's dollar amount was higher by as much as 14.8% compared to 2001,
when GDP totalled 19.5 billion dollars.
The growth of GDP was the result of a 6.6% increase in personal
spending, a 10.1% increase in investments, a 1.2% increase in
exports, as well as an increase in stocks. The slowing down of GDP's
growth was the result of a 1.8% drop in state spending and an 8.8%
increase in imports.
Analysts with the Croatian Chamber of Commerce estimate that GDP
was affected the most by the increase in personal spending,
although investments in fixed capital saw the highest rate of real
growth.
Expressed in fixed prices (1997), personal spending in 2002
increased by 5.4 billion kuna compared to 2001, while stocks rose by
4.8 billion, investments by 3.1 billion and exports by a relatively
modest 800 million kuna.
This proves that the growth was based on the increase of domestic
spending, which to a great extent was financed with loans.
The high increase in stocks, along with the intensive growth of
personal spending and investments and low exports indicates lack of
balance between domestic production and spending in 2002.
(hina) rml