Industry revenue of »manufacture of metal structures« in Croatia 2011-2023
The Metal industry in Croatia is one of the strongest pillars of its economy, with a rich history. Over 3,000 companies operate in the industry and it accounts for 10 percent of the overall GDP share. Amongst key reasons for the growth include a skilled labor force, growing investments in modernizing production facilities, growth in the country’s automobile sector, which is a major consumer of steel and the growth in utility projects. The revenues generated from manufacturing metal structures and parts of structures in the country amounted to 533 million U.S. dollars in 2011 and grew to 843 million U.S. dollars by 2023.
Initial projections for the same demonstrated a 14 percent growth in the medium term. However, the outbreak of the corona virus has stalled majority of the manufacturing and industry operations, and the projected growth at this point in time looks rather far-fetched. In fact, as per the latest estimates of the World Bank, the economy is expected to shrink by 9.4 percent in 2020.
Initial projections for the same demonstrated a 14 percent growth in the medium term. However, the outbreak of the corona virus has stalled majority of the manufacturing and industry operations, and the projected growth at this point in time looks rather far-fetched. In fact, as per the latest estimates of the World Bank, the economy is expected to shrink by 9.4 percent in 2020.
