Why this is important to Wisconsin businesses: Wisconsin companies in machinery, metal components, and the automotive industry may find opportunities for partnerships.
Croatia’s economy has stabilized over the past several years and is now the second-largest among the former Yugoslav republics. Its gross domestic product (GDP) reached $82 billion in 2023, an increase of 2.8% over the previous year. According to the U.S. State Department, that makes Croatia one of the three strongest economies in the European Union.
Croatia will also receive nearly $30 billion in EU funding through 2030, the State Department says.
The service sector, particularly tourism, is the biggest contributor to Croatia’s GDP, providing 61% of the country’s revenues. Manufacturing also plays a significant role, comprising nearly 19% of the GDP, and about half of that involves metal production and processing.
Croatia’s well-established metal industry includes more than 4,000 companies. About 75% of them are small to midsize, often family-owned. The sector focuses on small-batch, high-quality production, specializing in steel and light metal structures, surface treatments, and customized metal parts.
According to the Observatory of Economic Complexity (OEC), Croatia exported $2.1 billion worth of metal products in 2023—the country’s fifth biggest export. Primary purchasers were Slovenia, Italy, and Germany.
Also in 2023, according to the OEC, Croatia imported $3.9 billion worth of metal products, its fifth largest import, and Slovenia, Italy, and Germany were the most common sources of those imports.
One sector of the metal industry is automotive production, and Croatia has 150 companies in that area, the government says, providing components for automakers including General Motors, Ford, Toyota, Fiat, BMW, Audi, and Porsche. Croatia also plays a role in the production of electric cars, such as Nevera by Rimac Automobili.
Wisconsin companies can leverage Croatia’s established export infrastructure to collaborate with local manufacturers and expand their overall presence in the European market.
