Industry revenue of »sea and coastal freight water transport« in Croatia 2011-2023

Up until a decade ago, the Croatian sea freight transport industry witnessed steady growth, owing to the favorable government investments in the necessary infrastructure and the growth in the trade volumes. However, over the years, the industry has witnessed a decline, with revenues dropping from 272 million U.S. dollars in 2011 to 141 million U.S. dollars in 2019. Key reasons include the declining investments in cargo vessels, growing consumer preference towards road and air freight services owing to the reduced transit time and a decline in overseas trade volumes. As of 2017, the total freight transported by coastal shipping in the country amounted to 208 million tonne kilometers, a 28 percent decline compared to a decade ago. In comparison, the total freight transported by road amounted to 12.6 billion tonne kilometers whilst that by rail amounted to 2.5 billion tonne kilometers in 2017.

The short term also does not augur well for the industry, as majority of the ports have been shut due to the outbreak of the corona virus and operations have come to a virtual standstill.

Industry revenue of »sea and coastal freight water transport« in Croatia from 2011 to 2023

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Sources

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 “sea and coastal freight water transport“ has the code “H502“.

Details on the methodology can be found here.

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