Compared to July 2019, the drop is industrial turnover has amounted to 10.9% YoY, caused by introduction of pandemic measures, and decrease in demand and industrial activity since March 2020.

On Monday Croatian Bureau of Statistics has published the newest statistics for industrial turnover index in July 2020. According to the publication, the total seasonally and working day adjusted industrial turnover increased by 0.7%, as compared to the previous month. Compared to July last year the drop is industrial turnover has amounted to 10.9% YoY, caused by introduction of pandemic measures, and decrease in demand and industrial activity since March 2020 when negative turnover was first evidenced (-6.6% YoY). On yearly basis, the industrial turnover decreased by 8.2% YoY in 7M of 2020 out of which the domestic market went down by 5.6%, while foreign market down by 11.7% in the same period. Breakdown on product types shows that turnover of Energy recorded the biggest decrease in 7-month period (-17.6%), followed by durable consumer goods (-17.4%) and non-durable consumer goods (-9.4%).

The Croatian industrial sector index CROBEXindustrija has noted a significant improvement since its low (19 March) after which the index increased by as much as 57%. Meanwhile, the index is flat on a YTD basis closing yesterday at 878.54 points.  Meanwhile on a YTD basis, its constituents show mixed share price performance. Petrokemija leads the list of gainers with +31.8%. On the flip side, 4 companies observed double-digit decreases Varteks (-46.6%) and AD Plastik (-30.9%) leading the losers.