Industrial Production in Croatia
The Croatian economy recorded average industrial production growth of 1.3% in the decade to 2022, above the 1.1% average for the Euro Area. In 2022, industrial production growth was 1.6%. For more industry information, visit our dedicated page.
Croatia Industry Chart
Croatia Industry Data
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 0.6 | -3.3 | 6.3 | 1.6 | -0.1 |
Industrial output drops at sharpest pace since May 2020 in June
Industrial output sank 8.3% year on year in working-day adjusted terms in June, which was a deterioration from May's 3.3% decrease. June's figure marked the worst reading since May 2020. The reading reflected a broad-based downturn across the major sectors, with mining and quarrying, electricity, gas, steam and air conditioning supply, and manufacturing all contracting at steeper rates in June relative to May. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.9% in June, down from May's minus 1.0% reading. On a monthly basis, industrial production dropped 3.7% in seasonally adjusted terms in June, contrasting May’s 2.5% expansion and marking the worst result since December 2023..
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Croatian industry projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Croatian industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Croatian industry projections.
Want to get access to the full dataset of Croatian industry forecasts? Send an email to info@focus-economics.com.
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