Friday, 27 August 2021

HGK Says Robust Growth in Q2 in Line with Expectations

ZAGREB, 27 Aug 2021 - The robust growth in the second quarter of 2021 is within expectations based on the relevant indicators, the Croatian Chamber of Commerce (HGK) said on Friday in its comment on the preliminary data showing the Q2 16.1% economic growth year-on-year.

The HGK's analysis shows that all the big sectors had high growth rates in the second quarter compared to 2020 Q2.

For instance, industrial output increased 13.9%, retail trade jumped 20.5%, and the volume of construction work increased 16% in the second quarter this year, the HGK recalls. Furthermore, tourist arrivals skyrocketed 131.7% compared to the second quarter of 2020, and their overnight stays increased 129.2%.

The HGK says that all the basic activities contributed to the growth on the year.

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Tuesday, 3 August 2021

Total Household Loans Reach HRK 138,9 Bn in June

ZAGREB, 3 Aug (Hina) - Total household loans in Croatia reached HRK 138.9 billion at the end of June 2021, increasing by HRK 4.2 billion from June 2020, according to the data provided by the Croatian National Bank (HNB).

The annual nominal household loan growth rate was 3.2%, picking up from 2.7% in May 2021, Raiffeisen Bank (RBA) said in its analysis of the central bank's data.

The share of kuna-denominated loans in total loans was 55%, the same as the month before.

Household credit claims increased by 1.9% or HRK 2.7 billion since the start of the year.

The annual household loan growth rate increased from 3.5% to 4%, with the growth of housing loans picking up from 9.7% to 10.1%. 

(€1 = HRK 7.5)

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Wednesday, 21 July 2021

Croatian Bureau of Statistics (DZS): Volume of Construction Work up 16% in May, Rising For 12 Months in Row

ZAGREB, 21 July, 2021 - The volume of construction work carried out in Croatia in May 2021 rose 15.9% compared with May 2020, and it fell by 0.1% compared with April 2021, according to data provided by the National Bureau of Statistics (DZS) on Wednesday.

May was the 12th consecutive month to see the rise in the volume of construction work on an annual level.

Year on year, the volume of construction work to buildings increased by 18% and the volume of construction work to other structures grew by 13%. Month on month, the volume of construction work to buildings fell by 0.3%, while the volume of construction work to other structures decreased by 0.9%.

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Tuesday, 20 July 2021

Average net pay for May HRK 7,104

ZAGREB, 20 July, 2021 - For May 2021, the average monthly net earnings per person in paid employment in legal entities in Croatia amounted to HRK 7,104, nominally higher by 6.7% and really by 4.5% as compared to the same month last year, the national statistical office said on Tuesday.

As compared to April 2021, the nominal increase was 0.3% and the real one 0.2%.

The highest average monthly net earnings per person in paid employment in legal entities for May 2021 were paid in Manufacture of coke and refined petroleum products (HRK 10,756), while the lowest were paid in Manufacture of wearing apparel (HRK 4,401).

Median net earnings for May 2021 amounted to HRK 5,966 kuna.

For May 2021, the average monthly gross earnings per person in paid employment in legal entities amounted to HRK 9,553, a nominal increase of 0.3% and a real one of 0.2% as compared to April 2021.

The average monthly gross earnings per person in paid employment in legal entities were nominally higher by 5.4% and really by 3.2% for May 2021 as compared to the same month last year.

The average monthly net earnings per hour for May 2021 amounted to HRK 41.57, which was 4.3% higher than in April 2021. As compared to the same month last year, they increased by 6.3%.

The average monthly gross earnings per hour for May 2021 amounted to HRK 55.90, which was 4.3% higher than in April 2021. As compared to the same month last year, they increased by 5%.

In May 2021, there were 167 paid hours on average, decreasing by 4% as compared to April 2021. The greatest number of paid hours was recorded in the Human health activities (178) and the smallest one in Social work activities without accommodation (152).

(€1 = HRK 7.5)

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Wednesday, 14 July 2021

Croatia Increases Sea-Fish Catch and Production

ZAGREB, 14 July, 2021 - Croatia increased the catch and production of sea fish and other marine organisms by 9% in 2020 compared with the previous year, while the value of fisheries rose by 10.4%, according to provisional data from the Croatian Bureau of Statistics.

The increase in the value of fisheries was due to the 11.6% rise in the value of sea fisheries, which in turn was driven by the 10.3% increase in sales.

A total of 66,535 tonnes of pelagic fish were sold last year, which is 7,054 tonnes more than in 2019, while the value of pelagic fish sold rose by 13.7% to HRK 518.2 million.

Also sold were 18,321 tonnes of other fish, their value reaching HRK 774.8 million, up by 13.5% compared with 2019.

The number of fishermen engaged in maritime fishing in 2020 fell by 0.4% to 6,582, and the number of fishing vessels decreased by 0.8% to 7,555.

The provisional data also show that the total production of freshwater fish in 2020 declined by 14.7% to 2,644 tonnes.

(€1 = HRK 7.48)

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Tuesday, 13 July 2021

9% More Building Permits Issued in May

ZAGREB, 13 July, 2021 - In May 2021, 835 building permits were issued, which was 9% more than in May 2020, the Croatian Bureau of Statistics said on Tuesday.

By types of constructions, 82.6% of the permits were issued for buildings and 17.4% for civil engineering works, up by 9.3% and 7.4% on the year respectively.

The permits issued in May 2021 envisaged almost HRK 3 billion worth of construction works, up by 12.7% on the year.

Based on the types of construction works, 75.8% of the permits were issued for new constructions and 24.2% for reconstructions.

The permits issued in May 2021 envisage the construction of 1,583 flats.

In the first five months of 2021, 4,931 building permits were issued, up 21.3% on the year, envisaging HRK 12.64 billion worth of construction works, up 21.1% from January-May 2020.

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Tuesday, 13 July 2021

Gross Agricultural Production Rises 2.4%

ZAGREB, 13 July, 2021 - In 2020, the physical volume of gross agricultural production in Croatia went up by 2.4% on the year, owing to a growth in plant production, while cattle production dropped, according to the national statistical office.

ZAGREB, 13 July (Hina) - In 2020, the physical volume of gross agricultural production in Croatia went up by 2.4% on the year, owing to a growth in plant production, while cattle production dropped, according to the national statistical office.

Plant production went up by 7%, while cattle production fell by 4.1%.

Maize production went up by 5.8%, wheat by 7.4%, by soybean by 8.9% and grapes by 14.1%.

In cattle production, only beef production increased, by 1.2%, while egg production went up by 11%.

Plant production accounted for 61.5% and cattle production for 38.5% of gross production.

In 2020, the physical volume of net agricultural production increased by 2.8%.

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Wednesday, 7 July 2021

Croatia's Industrial Stockpiles Up Month-On-Month And Year-On-Year

ZAGREB, 7 July, 2021 - Croatia's stockpiles of finished industrial goods in May 2021 were 0.5% higher than in the previous month and 2.5% higher than in May 2020, according to data from the National Bureau of Statistics (DZS).

Broken down by main industrial groupings, compared with April 2021, stockpiles of durable consumer goods increased the most, by 7.1%. Stockpiles of energy rose by 2.9% and those of intermediate goods and non-durable consumer goods increased by 0.2%. At the same time, stockpiles of capital goods fell by 2.3%.

Compared with May 2020, stockpiles of energy increased by 41% and those of non-durable consumer goods by 11%, while stockpiles of durable consumer goods fell by 18.6%, those of intermediate goods by 11.1% and stockpiles of capital goods by 7.8%.

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Wednesday, 23 June 2021

Total Household Loans Reach HRK 137.5 Bn in April

ZAGREB, 23 June, 2021 - Total household loans in Croatia reached HRK 137.5 billion at the end of April 2021, increasing by HRK 3.6 billion from April 2020, Raiffeisen Bank (RBA) said in its recent analysis of data provided by the Croatian National Bank (HNB).

The annual nominal household loan growth rate was 2.7%, picking up from 1.6% in March 2021.

The share of kuna-denominated loans in total loans was 55%, and the nominal amount of loans was affected by the euro-kuna exchange rate, which was 0.4% lower on an annual level and 0.1% lower on a monthly level.

Compared with December 2020, household credit claims in April 2021 increased by 1% or HRK 1.35 billion as a result of a rise in the nominal value of housing loans and the impact of housing subsidy schemes on them.

Housing loans accounted for 46.4% of total household loans, reaching HRK 63.8 billion, up by 1.61 billion from the end of 2020. The annual growth rate picked up from 8.3% in March to 9% in April.

On the other hand, general-purpose cash loans, despite a slight monthly rise of 0.2% to HRK 52.5 billion, were 1.4% lower than in April 2020, while increasing by 0.5% compared with the end of 2020.

RBA analysts expect that the rise in household loans will continue this year on the back of subsidised housing loans and the need for funding for the reconstruction of housing damaged in last year's earthquakes.

With the easing of COVID-19 restrictions and the acceleration of economic activity, there will be an increase in demand for cash loans, but this year it will be more modest than two-digit growth rates seen between mid-2018 and the outbreak of the coronavirus pandemic, RBA said.

(€1 = HRK 7.5)

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Tuesday, 8 June 2021

EU Intellectual Property Office (EUIPO): 7% of Croatians Misled Into Buying Counterfeits

ZAGREB, 8 June, 2021 - Nine percent of Europeans and seven percent of Croatians have been misled into buying counterfeit products, according to a survey released by the EU Intellectual Property Office (EUIPO) on Tuesday.

The study, entitled "European Citizens and Intellectual Property", shows that consumers find it difficult to distinguish between genuine and fake products.

Nearly one in ten Europeans claimed that they were misled into buying counterfeits, but there were considerable differences between EU member states. 19% of Bulgarians, 16% of Romanians and 15% of Hungarians said they were deceived, compared to 2% of Swedes and 3% of Danes.

Croatia was below the EU average, with 7% of its citizens saying they were misled into buying counterfeit products.

According to Eurostat, over 70% of Europeans shopped online in 2020, and uncertainty regarding counterfeit products has become a growing concern for consumer protection, the study showed.

Counterfeit products represent 6.8 % of EU imports worth €121 billion and impact every sector, from cosmetics and toys, wine and beverages, electronics and clothing to pesticides and pharmaceutical products. They pose serious risks to the health and safety of citizens as they usually do not comply with quality and safety standards.

The study says that the worldwide trade in counterfeit pharmaceutical products has been estimated at €4 billion. Digital piracy also represents a highly lucrative market for infringers. Just in the area of internet protocol television (IPTV), €1 billion of unlawful revenue is generated every year by the
supply and consumption of copyright-infringing digital content in the EU, harming creators and
legitimate businesses.

Counterfeiting affects not only consumers, but it also causes considerable damage to the EU
economy, notably small and medium enterprises (SMEs). One in four SMEs and 21.7% of SMEs in Croatia said they suffered damage on account of intellectual property rights infringement, according to the study.

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