Industry revenue of »building of ships and floating structures« in Croatia 2011-2023

Over the years, shipping and shipbuilding has been an integral part of the Croatian economy, providing business opportunities for SMEs and employment for many. In fact, a large part of the population in Istarska, Primorsko-goranska and Splitsko-dalmatinska county, is still employed in this sector. Ships and floating structures have dominated the market in comparison to pleasure and sporting boats.

However, since 2011, lack of government support, funding and domestic or international contracts, has put significant pressure on industry players, leading to a fall in revenues and the number of companies operating in this sector. This trend is expected to continue over the short to medium term with revenues estimated to fall from 288 million U.S. dollars in 2018 to 164.4 million U.S. dollars in 2023.

In August 2019, the government showed signs of support to the industry with a loan guarantee of around 23 million U.S. dollars for 3.Maj shipyard, one of the largest in the country. According to Prime Minister Andrej Plenkovic, the guarantee was part of the larger goal to find a strategic partner for the shipyard, in an effort to make the business and indeed the industry self-sustainable in the future.

Industry revenue of »building of ships and floating structures« in Croatia from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Croatia. The industry “building of ships and floating structures“ has the code “C3011“.

Details on the methodology can be found here.

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