Croatia's industrial production dropped 12.4 percent over a year earlier in May 2020, following an 11 percent fall in the previous month. It was the biggest decline in industrial output since June 2009, amid the covid-19 crisis. Output decreased further in capital goods (-17.8 percent compared to -8.2 percent in April), intermediate (-13.3 percent compared to -11 percent) and non-durable goods (-15.8 percent compared to -13.9 percent). In contrast, production of durable goods fell less (-35.3 percent compared to -59.7 percent) while energy output rebounded (3.5 percent compared to -0.9 percent). On a seasonally adjusted monthly basis, industrial production went down 3.5 percent, after dropping 5.6 percent in the prior month.
Industrial Production in Croatia averaged 1.02 percent from 1999 until 2020, reaching an all time high of 15.10 percent in December of 2016 and a record low of -13.30 percent in June of 2009. This page provides - Croatia Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. Croatia Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
Industrial Production in Croatia is expected to be -4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Croatia to stand at 2.80 in 12 months time. In the long-term, the Croatia Industrial Production is projected to trend around 4.00 percent in 2021 and 2.00 percent in 2022, according to our econometric models.