Industry in Croatia

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Croatia - Industry

Industrial production suffers sharpest contraction in over six years in December

In December, industrial output fell 6.6% in working-day adjusted terms over the same month last year, deteriorating from November’s 0.8% dip and marking the sharpest drop in over six years.

December’s plunge was largely driven by marked decline in manufacturing output, swinging from the mild expansion recorded in the previous month. In addition, both the mining and quarrying, and electricity, gas, steam and air conditioning supply sectors posted greater losses compared to November.

On a month-on-month basis, industrial production tumbled 2.9% in seasonally- and working-day adjusted terms in December, following November’s 0.4% downturn. Meanwhile, annual average variation in industrial output worsened to minus 1.0% in December from minus 0.7% a month earlier.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.8% in 2019, which is down 0.5 percentage points from last month’s estimate, and 1.9% in 2020.

Croatia - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-1.7  1.2  2.5  5.0  1.9  

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Croatia Industry Chart

Croatia Industry
Note: Annual variation of industrial production in %.
Source: Central Bureau of Statistics and FocusEconomics calculations.

Croatia Facts

Bond Yield2.050.0 %Feb 20
Exchange Rate6.54-0.54 %Feb 20
Stock Market1,769-0.48 %Feb 20

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