Republic of Croatia: Selected Issues

IMF Staff Country Reports, June 29, 2023

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Republic of Croatia: Selected Issues

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Bibliographic details

• Published: June 29, 2023
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400246937.002

Overview

• Publication date: June 29, 2023
• Format: IMF Staff Country Report No. 2023/234
• Pages: 43
• Volume: 2023
• Issue: 234
• DOI: https://doi.org/10.5089/9798400246937.002
• ISBN: 9798400246937
• ISSN: 1934-7685
• Subject tags included in the source: Carbon tax, Climate change, Environment, Greenhouse gas emissions, International organization, Monetary policy, Natural disasters, Taxes
• Keywords included in the source: Carbon tax, Climate change, Croatia's GHG emission, Europe, Global, goods export comparative advantage, goods export competitiveness, goods export diversification, goods export structure, Greenhouse gas emissions, Natural disasters

Findings on goods export competitiveness

• The paper examines competitiveness of Croatia’s goods exports using Revealed Comparative Advantage (RCA) with cross-country comparison.
• Croatia has demonstrated goods export competitiveness beyond the tourism sector.
• Over the past few decades, Croatia’s share of exports of goods with comparative advantage:
  • Exhibited a positive correlation with Croatia’s real income growth.
  • Exhibited a negative correlation with Croatia’s growth volatility.
• Croatia’s export structure shows a relatively modest status in medium- and high-technology goods compared to other Eurozone countries.
• The paper emphasizes that raising productivity is important for Croatia to unleash capacity for a higher and more resilient growth.

Machine-learning analysis and diversification potential

• The study uses a machine-learning approach applied to worldwide product-level data to forecast Croatia’s goods export portfolio.
• Machine-learning-based analysis suggests:
  • Croatia has potential to export a higher share of manufacturing goods in its export portfolio.
  • The potential is especially notable for technology-intensive manufacturing goods.

Policy implications and recommendations

• Prioritize policies that raise productivity to enable higher and more resilient growth.
• Promote diversification toward manufacturing and technology-intensive exports, leveraging identified potential from the machine-learning forecasts.
• Use insights from RCA and cross-country comparisons to target sectors where Croatia can build or strengthen comparative advantage.

Key statistics and identifiers (as presented in source)

• Pages: 43
• DOI: https://doi.org/10.5089/9798400246937.002
• ISBN: 9798400246937
• ISSN: 1934-7685

International Monetary Fund. European Dept. "Republic of Croatia: Selected Issues", IMF Staff Country Reports 2023, 234 (2023).

Content in this bundle

• Republic of Croatia: Selected Issues; IMF Country Report No. 23/234; June 7, 2023
  • Republic of Croatia: Selected Issues; IMF Country Report No. 23/234; June 7, 2023 (Markdown version)
  • Republic of Croatia: Selected Issues; IMF Country Report No. 23/234; June 7, 2023 (PDF)