Leader’s Conference – Drakulić: Exports Exceeded 20% of Total Revenue in the Economy

Exporters are not failing – stated Veljko Drakulić from the credit rating agency Bisnode at the Leader’s Conference on Exports during a presentation of research conducted by his company based on data about exporters over the past five years.

In 2017, exports accounted for about 20% of total revenue in the Croatian economy. The manufacturing industry exports the most, with companies like INA, Pliva, and Petrokemija, where 40 percent of revenue comes from exports. This is followed by companies engaged in transportation and storage, such as Zagreb Airport, Croatia Airlines, and Tankerkomerc, with 30 percent of their revenue from exports. Next are companies involved in administrative and support service activities, which generate 25 percent of their revenue from exports.

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– Total revenue has been growing steadily over the last five years, ranging from 2-3 percent. Net profit has varied significantly during this period, while newly created value has grown similarly to total revenue, that is, by 2-3 percent. Last year, exports increased by 16 percent to 137 billion kuna, Drakulić said while speaking at the conference Smart People Know What Exports Are For.

He noted the increase in small companies that are raising their share of exports as one of the significant features of the past period.

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Research conducted by Bisnode over the past five years concluded that 82 percent of exporters possess exceptional liquidity, are better and more stable than the average of the Croatian economy, which Drakulić illustrated with the words that “exporters are not failing.”

Despite being in a better position than other economic stakeholders, he added that exporters are the most exposed to global protectionist policies such as Brexit and the American border closures and tariffs.