Market Research Report
Construction in Croatia - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||885373|
|Published||Content info||40 Pages
Delivery time: 1-2 business days
|Construction in Croatia - Key Trends and Opportunities to 2024|
|Published: December 23, 2020||Content info: 40 Pages||
Prior to the Coronavirus (COVID-19) outbreak, the Croatian construction sector posted growth of 8% for 2019 in real terms. Although the disruptions caused by the COVID-19 outbreak and the subsequent lockdown measures have affected the industry, construction activity in Croatia has not been as severely affected as major markets across the region. According to the Croatian Bureau of Statistics (CBS), the Croatian construction industry's growth decelerated to just 0.3% year on year (YoY) in the second quarter of 2020, but it recovered quickly in Q3 2020, with a Y-o-Y growth of 5.3% that period.
Reflecting the disruptions caused by the pandemic, coupled with the weak outlook for economic growth, GlobalData forecasts the construction industry growth to decelerate to 3.9% in 2020. Following the second wave of the COVID-19 outbreak, the government re-imposed new lockdown restrictions, with the closure of non-essential businesses from November until 25th December. However, construction sites and factories were exempted from the new lockdown measures imposed in November.
Over the remaining part of the forecast period, the industry's output will be supported by government measures to contain the impact of the outbreak on the manufacturing sector, and support for businesses to cope with the outbreak by providing guarantees on loans. On 1st December 2020, the government announced plans to spend HRK2.1 billion (US$317 million) to protect organisations impacted from the second wave of the COVID-19 outbreak.
This report provides detailed market analysis, information, and insights into the Croatian construction industry, including -
This report provides a comprehensive analysis of the construction industry in Croatia. It provides -