1. Market Research
  2. > Tourism and Leisure Market Trends
  3. > Croatia Country Report - March, 2015

Croatia Country Report - March, 2015

  • April 2015
  • -
  • Emerging Markets Direct Media Holdings
  • -
  • 25 pages

This report reviews key macroeconomic data and microeconomic developments for Croatia published between March 7 and April 6, 2015.

The Zagreb Institute of Economic confirmed its 0.2% GDP growth projection for this year but slightly lowered its next year's forecast to 0.8% from 0.9% projected in January. The institute said it expects exports to be the sole driver of growth this year, while private consumption is expected to stagnate.

Retail sales, which have been rising for several months, are expected to post a 0.5% increase this year, the Croatian Chamber of the Economy (HGK) said, adding that it expects the rise to be supported by real growth in net wages and continuation of positive trends in the tourism sector.

The report also provides details on the results of the early local elections and a possible date for the organisation of general elections and reveals the results of the latest opinion poll measuring the support for the country's political parties. It mentions the latest plans of the government regarding the concession of Croatia's motorways and the recapitalisation of state-owned power utility firm Hrvatska Elektroprivreda (HEP).





Key Points:





o CPI inflation slowed to 0.4% y/y in February from 0.9% y/y a month earlier. The working-day adjusted industrial output recovered in February (up 1.9% y/y) after contracting by 5% in January.



o The unemployment rate stayed flat on the month at 20.3% in February. The stagnation in the Croatian jobless rate comes after five months of consecutive growth. The average net monthly wage rose by real 2.8% y/y in January, following a 3.4% increase in December.

o January trade gap shrinks 29% y/y as both imports and exports declined.

Table Of Contents

Croatia Country Report - March, 2015
EXECUTIVE SUMMARY4

MACROECONOMIC OVERVIEW5

Croatia's GDP to grow 0.2% in 2015, 0.8% in 2016 - Zagreb Institute of Economics5

REAL SECTOR5

1. GDP, Inflation5

Croatia's CPI deflation narrows to 0.4% y/y in February5

Croatia's PPI falls 4% y/y in February6

2. Industry and Trade7

Croatia's industrial output returns to growth in February7

Croatia's industrial sales contraction eases to 1.3% y/y in January7

Croatia's retail sales growth slows in February8

Croatian Chamber of Economy expects 0.5% rise in retail sales in 20158

3. Labour Market9

Croatia's unemployment rate flattens in February9

Croatia's unemployment rate rises to 18.3% in Q4 2014 - labour force survey9

Croatia's average net monthly salary rises by real 2.8% y/y in January9

Labour costs in Croatia fall 0.5% y/y in Q410

4. Tourism10

Croatia's tourism revenues rise 2.8% to EUR7.4bn in 201410

Tourist arrivals in Croatia rise 17% y/y in January-February10

FISCAL SECTOR, MONETARY POLICY11

Croatia's current account surplus narrows 20.2% in 201411

Croatia's M4 money supply up 3.9% y/y to EUR37.7bn at end-February12

Croatian c-bank FX reserves up 2.4% y/y to EUR12.9bn at end-February12

Croatia sells EUR145.2mn worth of kuna T-bills, yields flat12

FINANCIAL INTERMEDIATION12

Croatian Podravska Banka, Kreditna Banka Zagreb to merge12

Croatians with Swiss franc denominated loans leave negotiations, announce mass protests13

Net assets of Croatian open-end investment funds edge down 0.2% m/m in February14

Croatian mandatory pension funds' assets up 15% in February14

Zagreb bourse's turnover drops 47.4% m/m to EUR32.8mn in March14

EXTERNAL SECTOR15

Croatia's gross foreign debt rises 0.5% m/m in December15

Croatia's trade gap shrinks 29% in January16

STRUCTURAL REFORMS16

Croatia approves financing for Dubrovnik airport upgrade16

Morgan Stantey, UniCredit, Sberbank reportedly to advise Croatia's HEP on IPO plans17

Croatia's Podravka reportedly to pay up to EUR65mn for majority stake in Slovenia's Zito17

Croatia, MOL to resume negotiations in mid-April over Croatian oil firm INA18

Croatian concern Agrokor signs EUR325mn financing agreements19

Croatia may hold referendum on offshore hydrocarbons exploitation-PM19

Croatia cancels motorway concession tender, to go for IPO20

Croatian government endorses consumer bankruptcy bill21

POLITICS22

Detained Zagreb mayor establishes new party22

Croatian culture minister resigns over misuse of funds23

Croatia's opposition HDZ Party keeps leading position with 30% backing - poll24

Croatian general elections likely to be held in October or early 201624

Croatia sees balanced vote in early local elections runoff25

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
Global Tourism Spend Analytics to 2020: Accommodation, Entertainment and Sightseeing, Foodservice, Retail, Transportation, Travel Intermediation, Others

Global Tourism Spend Analytics to 2020: Accommodation, Entertainment and Sightseeing, Foodservice, Retail, Transportation, Travel Intermediation, Others

  • $ 14995
  • Industry report
  • October 2016
  • by Canadean Ltd

Summary Tourism Spend (Expenditure under taken on Travel and Tourism related commodities by a tourist within a country. This expenditure is categorized in to accommodation, sightseeing and entertainment, ...

Global Tourism Demand and Flow, 2011 - 2020: Domestic and International Trips Analytics

Global Tourism Demand and Flow, 2011 - 2020: Domestic and International Trips Analytics

  • $ 14995
  • Industry report
  • October 2016
  • by Canadean Ltd

Summary Tourism Demand (Factors that influence time and money spent on tourism. Typical factors include the number of holiday days available to an employee in their country and mean household income) and ...

Global Travel Intermediaries Business, 2011 to 2020

Global Travel Intermediaries Business, 2011 to 2020

  • $ 14995
  • Industry report
  • October 2016
  • by Canadean Ltd

Summary Travel Intermediaries (part of a business that assists in selling travel products and services to customers, which may include airline tickets, car rentals, hotels, railway tickets, and package ...

Enhanced Monthly Statistics

December 2016 $ 9600

ref:plp2015

Reportlinker.com © Copyright 2016. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.