Croatian exports in 20 saw rapid growth of nearly 25% and 26% respectively, with exports in 2021 reaching 143.7 billion kuna and exports in 2022 expanding further by 26% to reach projected 182 billion kuna. Ĭroatia's post-pandemic recovery was supported by strong private consumption, better-than-expected performance in the tourism industry, and a boom in merchandise exports. Growth rebounded in 2021 and Croatia recorded its largest year-over-year GDP growth since 1991. The Croatian economy reached pre crisis levels in 2019, but due to the Coronavirus pandemic GDP decreased by 8.4% in 2020. Croatia formally emerged from the recession in the fourth quarter of 2014, and had continuous GDP growth until 2020. With its entry into the Eurozone, Croatia is now classified as a developed country or an advanced economy, a designation given by the IMF to highly developed industrial nations, with GDP (nominal) per capita above $20,000, which includes all members of the Eurozone.Ĭroatia was hit by 2008 global financial crisis really hard which affected Croatian economy with a significant downturn in economic growth as well as progress in economic reform which resulted in six years of recession and a cumulative decline in GDP of 12.5%. Further integration into the EU structures will continue in the coming years, including participation in ESA, CERN as well as EEA membership in the next 24 months. Croatia is also negotiating membership of OECD organization, which it hopes to join by 2025. Croatia joined the World Trade Organization in 2000, NATO in 2009, has been a member of the European Union since 1 July 2013, and it finally joined the Eurozone and the Schengen Area on 1 January 2023. Croatia's road to globalization started as soon as the country gained independence, with tourism as one of the country's core industries dependent on the global market. The economy of Croatia is a high-income, service-based social market economy with the tertiary sector accounting for 70% of total gross domestic product (GDP).Ĭroatia has a fully integrated and globalized economy. If this data is unavailable or inaccurate and you own or represent this business, click here for more information on how you may be able to correct it.All values, unless otherwise stated, are in US dollars. VIEW ADDITIONAL DATA Select from over 115 networks below to view available data about this business. VMD holds a CMMI Level 2 certification from the Software Engineering Institute (SEI), and is also ISO 9001:2008 certified. Small Business Administration 8(a) program. VMD is a small, woman-owned firm that has been certified by the U.S. VMD's client portfolio represents a combination of highly visible government agencies, Fortune 500 companies, and private organizations who rely on superior business, management and technical services. Additionally, VMD retains specialized expertise in the fields of mobile application development, interface design and usability, and voice driven applications. VMD's employees represent years of industry knowledge and experience in the areas of wireless data communication, speech recognition, database development and a host of other specialties. Systems Design, Development & Integration Management Consulting Enterprise Security IT Infrastructure Support Business Operations Support Services Using an integrated approach based on customized solutions, expert management, and deep industry knowledge, we ensure the success of your implementation through tailored planning and efficient design. VMD excels at providing services in business engineering, information technology, and program management. VMD Systems Integrators (VMD) is a technology services company focused on simplifying complex problems for both government agencies and private organizations.
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