Končar Awarded the Golden Key, and Croatian Exports Strengthen Despite Risks

The export of Croatian companies is one of the pillars of the national economy, and the most successful among them not only follow global trends but also lead in certain segments. Which Croatian companies are conquering markets and setting new standards, and what should we pay attention to in the future of exports, we learned at the 20th convention of Croatian Exporters. This year, it was held under the theme ‘Technologies of the Future/Challenges of Global Trade’, and the Golden Key awards were presented to the best exporters for 2024.

The main award in the large companies category went to Končar – Distributive and Special Transformers, while Eurocable Group was named the best medium exporter. In the small and micro companies category, Osijek’s Orqa stood out, and the most innovative exporter was declared to be Solin’s AD Plastik.

In addition to the main categories, awards were also given for successes in specific markets. Haix Footwear was named the best exporter to Germany, Carel Adriatic was awarded for exports to Italy, and LTH – Metal Casting for business in Slovenia. Podravka was recognized as the leading exporter to Bosnia and Herzegovina. Končar – Energy Transformers received recognition for the United Kingdom, while E.G.O – Electrical Components was named the best exporter to China. Selk won the award for Austria, Hydromat for Egypt, and Pliva was awarded for exports to Canada and the USA, where it exports more than 90 percent of its production. Altpro was recognized as the best exporter to new and growing markets, with a special emphasis on India. The best craftsman exporter was declared to be Stjepan Sever, owner of the Metalac Sever craft.

The President of Croatian Exporters Davor Baković emphasized in his address that Croatian companies face the question of whether they will follow or lead technological changes. According to him, the key areas that will shape the future of business are artificial intelligence and automation, quantum computing, and cybersecurity, as well as development, particularly of energy infrastructure. The awarding of the Golden Key this year confirmed that Croatia has a number of companies that not only follow global trends but also lead in some segments, and the awarded exporters are proof that success comes from a combination of knowledge, innovation, and strategic investment.

Croatia Lacks Systematic Investment

As part of the Convention, two panel discussions were held on the topic ‘Technologies of the Future/Challenges of Global Trade‘. The state of the American economy, which significantly affects exports, was discussed. In 2025, all risks are further emphasized by the protectionist policies of the USA and new tariffs that will adversely affect Croatian exporters in the USA, as well as a significant part of Croatian exports to all other European and global markets. The global market is narrowing, and competitiveness and increased productivity are becoming even more significant.

The panels emphasized that global trade is fragmented, technology-driven, and that conditions change very quickly, and that it is heavily influenced by geopolitical risks, tensions, climate change, and extreme events. The most important item mentioned by the panelists is the diversification of export and import markets to make international exchange more flexible, independent, and resilient to external shocks and pressures, while also opening up greater opportunities for the exports of small countries.

Exporters concluded that Croatia lacks systematic investment that will increase the productivity of the domestic industry and exports. This particularly refers to the development of new technologies that would contribute to growth in the decades to come and positively impact the added value and structure of total industrial production and exports.

The domestic industry is dominated by the production of raw materials, semi-finished products, energy, and food and non-food consumer goods, which often means a resource-intensive and labor-intensive industry with lower productivity, which also supports the growth of commodity imports and low wages for a large number of employees. At the same time, the share of capital-intensive industry is relatively low, and the share of knowledge-based industry, innovation, and the application and development of new technologies is very low, which represents a significant problem that needs to be addressed.