ZAGREB, March 7, 2018 – Croatia’s textile industry changed considerably between 2002 and 2016, as some companies folded, onetime giants are no longer that big, the workforce shrank and, although a majority of the companies operated at a profit, wages remained lower than the national average, according to a Financial Agency analysis.
The analysis shows there were 255 textile businesses in Croatia in 2002 and 279 in 2016. The industry’s revenue was 1.59 billion kuna in 2002 and 1.55 billion kuna in 2016, but the number of companies operating at a profit rose from 166 in 2002 to 206 in 2016.
In 2016, those companies generated 89 million kuna in profits, while the rest posted losses totalling 43 million kuna. Consequently, the consolidated financial result of the textile industry was a profit of 46 million kuna. In 2002, the consolidated financial result was a loss of 124 million kuna, while in 2009 it was 71 million kuna in losses.
The textile industry recorded the best financial result in 2015 in the amount of 119.3 million kuna.
Croatia’s textile exports totalled 605 million kuna in 2002 and 812 million kuna in 2016. The workforce shrank from 8,552 in 2002 to 3,523 in 2016.
The average monthly wage was 2,131 kuna in the early 2000s and 3,675 kuna in 2016. The average national net salary in 2016 was 5,140 kuna.
