The first Croatian coins were minted during the reign of King Dmitar Zvonimir in the 11th century. In the early days of commerce in Croatia, replicas of Byzantine coins were used as currency before the country started minting its own. All this paves the way for the country’s bright economic future, allowing it to retain its position as a star player within the region. In the coming years, Croatia is set to integrate more into the EU structures, including participation in ESA and CERN, as well as joining the EEA, a move that is expected over the next 24 months. The country’s vision is further augmented as it is negotiating membership in the OECD organization, which they hope to join in 2025. The country went a step further and joined the Eurozone and Schengen Area on 1 January 2023, lifting its status to that of an advanced economy or developed country, a classification given by the International Monetary Fund (IMF) to well-developed industrial nations whose GDP (nominal) per capita is above $20,000, which encompasses all Eurozone members. Croatia’s economy has a fully-integrated and globalized structure, with its road to globalization beginning soon after gaining independence, with tourism ranking as one of its core industries dependent on the global market.Ĭroatia has commendable credentials as it joined the World Trade Organization in 2000, NATO in 2009, and became a member of the European Union in 2013.
The economy of Croatia stands tall as a high-income, service-centric social market economy, with the tertiary sector accounting for a substantial 70% share of the total Gross Domestic Product (GDP) generated.
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