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Construction in Croatia - Key Trends and Opportunities (H2 2021)

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  • 26 Pages
  • October 2021
  • Region: Croatia
  • GlobalData
  • ID: 5464345
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The analyst has revised the growth forecast for Croatia’s construction industry upwards in 2021, with the industry now expected to grow by 7.8% in real terms this year, from the earlier estimate of 4.5%. This upward revision is attributed to the progress in the civil engineering and building construction sector, which grew strongly in Q2 2021. According to the Croatian Bureau of Statistics (CBS), the country’s construction production index grew by 11.5% year on year (YoY) in the first half of 2021, while that of building construction grew by 12.2% and civil engineering construction by 11.19% during the same period. Moreover, the construction industry's value add grew by 16% YoY in Q2 2021, marking the first double digit Y-o-Y growth since the second quarter of 2019.

The industry’s performance in the second half of this year will be supported by the government’s emphasis on the implementation of large-scale infrastructure projects, including the construction of Zagreb Pier Deep Sea Container Terminal, the Krizevci-Koprivnica-State Border Railway Line Upgrade which involves the upgrade of a 42.6km railway line between Krizevci, Koprivnica and the state border, 702km of Corridor Vc and several railway projects. In November 2020, the Croatian parliament approved the 2021 state budget, which includes a total expenditure of HRK157.9 billion (US$24.5 billion), of which HRK3.7 billion (US$571 million) is for infrastructure development in the country.

Over the remainder of the forecast period, the construction industry is expected to register an annual average growth of 2.8% between 2022-2025, supported by the government’s focus on the development of infrastructure, as well as energy and utilities construction projects. Improvements in consumer and investor confidence and positive developments in regional economic conditions will also provide momentum.

The industry’s output will also be supported by the government’s national development strategy until 2030 to support long-term social and economic development which was unveiled by the government last year. Under this, the government aims to increase GDP per capita to 75% of the EU average by 2030, compared to 65% in 2019, and increase the employment rate from 66.7% in 2019 to 75% by 2030. Furthermore, between 2021-2027, Croatia will receive HRK183.2 billion (US$28.3 billion) from the EU, which is more than twice the amount received in the previous multiannual financial period. Furthermore, in July 2021, European Commission disbursed HRK47.3 billion (US$2.3 million) in grants under the Recovery and Resilience Facility (RRF). This financing will support the implementation of the crucial investment and reform measures outlined in Croatia's recovery and resilience plan.

The analyst's Construction in Croatia - Key Trends and Opportunities (H2 2021) report provides detailed market analysis, information, and insights into Croatia’s construction industry, including:
  • Croatia’s construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Croatia’s construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.


This report provides a comprehensive analysis of the construction industry in Croatia. It provides:
  • Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Croatia, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

  • Identify and evaluate market opportunities using the analyst's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using the analyst's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.

Table of Contents

1. Construction Outlook2. Construction Industry: At-a-Glance3. Latest News and Developments4. Project Analytics5. Construction Market Data6. Risk Profile
7. About the Publisher
7.1 Definitions
7.2 CRI Methodology
List of Tables
Table 1: Construction Industry Key Data
Table 2: Croatia, Top Construction Projects by Value
Table 3: Croatia, Construction Output Value (Real, US$ Million)
Table 4: Croatia, Construction Output Value (Nominal, HRK Million)
Table 5: Construction Market Definitions
Table 6: Risk Dimensions
Table 7: Ratings, Scores and Definitions
List of Figures
Figure 1: Croatia, Construction Output Value (Real, US$ Million, 2017 Prices and Exchange Rate), 2016-2025
Figure 2: Croatia, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 3: Eastern Europe, Construction Output (Real % Change), 2020 and 2021
Figure 4: Croatia, Construction Projects Pipeline by Sector (US$ Billion)
Figure 5: Croatia, Construction Value Add (HRK Million, 2015 Chained Linked Prices), % Change YoY
Figure 6: Croatia, Total Number of Construction Permits Issued, % Change YoY
Figure 7: Croatia, Value of Construction Works Done with Own Workers (HRK Million), % Change YoY
Figure 8: Croatia, Construction Production Volume Index, Seasonally Adjusted (2015=100)
Figure 9: Croatia, Total Dwellings Building Permits Issued (Number)
Figure 10: Croatia, House Price Index (2015=100), % Change YoY
Figure 11: Croatia, Total Export (US$ Million), % Change YoY
Figure 12: Croatia, Manufacturing Value Add (HRK Million, 2015 Chained Linked Prices), % Change YoY
Figure 13: Croatia, Information and communication Value Add (HRK Million, 2015 Chained Linked Prices), % Change YoY
Figure 14: Croatia, Industrial and Manufacturing Production Indices, 2015=100, Seasonally and Calendar Adjusted
Figure 15: Croatia, Industrial and Manufacturing Turnover Indices, 2015=100, Seasonally and Calendar Adjusted
Figure 16: Croatia, Retail Trade Volume Turnover Index (2015 = 100), % Change YoY
Figure 17: Croatia, Total Foreign Visitors Arrivals, In Thousands
Figure 18: Croatia, Wholesale and Retail Trade, Transportation, Storage, Accommodation and Food Service Activities Value Add (HRK Million, 2015 Chained Linked Prices), % Change YoY
Figure 19: Croatia, Institutional Value Add (HRK Million, 2015 Chained Linked Prices), % Change YoY
Figure 20: Croatia, Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 21: Croatia, Risk Summary
Figure 22: Croatia, Risk Regional Comparison