CROATIA

Export Atlas in PDF

With a population of 4 million and a forecasted GDP of close to $49bn in 2025, Croatia is a small, open economy highly exposed to tourism and services exports, with moderate income per capita relative to EU peers. It remains a net external debtor: the NIIP stood at approximately –25 percent of GDP under IMF definitions in 2023, and Eurostat estimates place it near –22 percent in late 2024.
Public debt declined from a pandemic peak above 86 percent of GDP to around 59–60 percent by late 2024, and is projected to fall further to about 56 percent in 2025 and near 55 percent by 2027. Interest costs are manageable and Croatia has maintained fiscal credibility through primary surpluses and adherence to EU-supported frameworks.
After a strong post‑pandemic rebound (+13.8 percent in 2021), real GDP growth slowed to approximately 2.8 percent in 2023 and reached 3.9 percent in 2024. Growth is projected at around 3.2 percent in 2025, easing to 2.9 percent in 2026, supported primarily by resilient private consumption and investment, including EU recovery‑fund absorption.
Fiscal deficits have widened modestly—from –2.4 percent in 2024 to an expected –2.7 percent in 2025—reflecting higher public wages, social spending and indexation provisions, though nominal GDP growth continues to support revenues.
Major vulnerabilities include high exposure to seasonal tourism demand, sensitivity to external shocks, persistent current account deficits, an ageing population, and constrained productivity. Structural reform remains critical to sustaining fiscal consolidation and supporting growth.

Summary

  • Please contact your relationship manager for information on BNP Paribas' cash management and trade finance services in Croatia.

Currency

  • Since 1 January 2023, Croatia uses the euro (EUR).

Bank accounts

  • A company is generally considered resident in Croatia if its legally registered office or place of effective management is located there.

BNP Paribas Cash Management Capabilities

Cash collections
Cheque collections
Direct debit collections
Domestic incoming transfers
Virtual IBAN
Virtual accounts
International incoming transfers
Card acquiring

Payments & collections

Credit transfers are the most widely used payment instrument by companies to pay suppliers and employees; they are mostly initiated electronically, although about 25% (which are primarily low-value transactions) are initiated on paper.

Debit card payments are popular for retail transactions, although pre-Covid 19, cash was the preferred method of payment for goods and services. Increasingly in-store payments are being conducted using contactless technology; the number of contactless card transactions between March 2020 and October 2020 grew by 76% and their value increased by as much as 161% compared with 2019. More than 50% of all payment cards are contactless and over 80% of EFTPOS are contactless-enabled. Mobile wallet schemes are available although use remains low, when compared to other SEPA countries.

Electronic banking services are available from the leading banks. The Croatian financial services industry has adopted ISO 20022 messaging standards and has implemented PSD2, which enables the implementation of open banking. A local Croatian-language version of the bank-independent MultiCash package is offered. Multinational companies also use the SWIFT for Corporates messaging standards.

Online and mobile banking services are provided by Croatia’s leading banks.

Short term investments

Interest payable on credit balances

  • Interest-bearing current accounts are permitted for both residents and non-residents.

Demand deposits

  • Interest is paid on demand deposit accounts for residents and non-residents, while funds can be withdrawn at little or no notice.

Time deposits

  • Time deposits are available in HRK or major foreign currencies with terms ranging from one week to one year.

Certificates of deposit

  • Domestic banks issue certificates of deposit with terms ranging from overnight to 12 months.
  • Certificates of deposit can be issued paying fixed or variable interest.

Treasury (government) bills

  • The Croatian Ministry of Finance issues Treasury bills at a discount for terms of three, six and 12 months. T-bills are issued with minimum denominations of HRK 1 million and EUR 1,000.
  • The CNB has issued CNB bills by auction for terms of one month.

Commercial paper

  • Commercial paper is issued by companies, with terms of one, three and six months.

Money market funds

  • Money market funds are available to Croatian investors.

Repurchase agreements

  • Repurchase agreements can be made on T-bills issued by the Croatian Ministry of Finance. The CNB issues reverse repos via weekly auctions.

Banker’s acceptances

  • Banker’s acceptances are not used in Croatia.

BNP Paribas Trade Finance Capabilities

Documentary credits
Documentary collections

International trade

  • As a member of the EU, Croatia follows the EU customs code and applies all associated regulations and commercial policies.
  • Trade with countries in the European Economic Area (EEA) and Switzerland is exempt from tariffs and other controls.