Iron or steel springs and leaves for springs market in Croatia

Earlier Report Observations

The market for iron or steel springs and leaves in Croatia, measured in value terms, declined from approximately 6.1 million USD in 2018 to 4.5 million USD in 2020. A reversal began in 2021, initiating a period of consistent growth that lifted the market size to 6.4 million USD in 2022, 7.2 million USD in 2023, and finally to 8.4 million USD by 2024.

This recovery trajectory was underpinned by distinct movements in domestic production and trade. Domestic production value increased significantly in 2020 and 2021, reaching a peak of over 12.2 million USD, but subsequently entered a gradual decline through 2024. Imports, after a dip in 2020, embarked on a strong and steady upward climb from 2021 onward, exceeding 12.5 million USD in value by the end of the period.

Exports also grew substantially, particularly with a major jump in 2021 to over 15.1 million USD, and remained at elevated levels. The net effect of rising imports and historically high production, even amidst robust export activity, contributed to the market's expansion in value after 2020.

Production iron or steel springs and leaves for springs in Croatia

In value, 2017-2020, K $ US

In 2020, Croatia's production of iron or steel springs and leaves for springs was valued at 9 333 thousand US dollars, marking a solid 11.7% increase from the previous year. Over the period from 2017 to 2020, production grew by 21.6%, with a compound annual growth rate of 6.7%. The largest decline occurred in 2019, when production fell by 1.6%.

Annual dynamics of production in Croatia in value, 2017-2020, K $ US

In kind, 2017-2020, t

Production of iron or steel springs and leaves for springs in Croatia increased for the second consecutive year. In 2020, Croatia produced 1 729 tonnes, representing a 13.3% advance from the previous year. From 2017 to 2020, production rose by 18%, with a compound annual growth rate of 5.7%. The lowest production level was recorded in 2018 at 1 254 tonnes, which also saw the largest decline of 14.5%. In contrast, the largest increase occurred in 2019, with production jumping by 21.7%.

Annual dynamics of production in Croatia in kind, 2017-2020, t

Exports iron or steel springs and leaves for springs from Croatia

Exports in kind, t

Export volumes of iron or steel springs and leaves for springs from Croatia increased for the third consecutive year. In 2020, exports amounted to 1 927 tonnes, up by 1.5% compared to the previous year. Between 2017 and 2020, exports grew by 13.2%, equating to an annualized rate of 4.2%.

Annual dynamics of product's exports from Croatia in kind, 2017-2020, t

From 2017 to 2020, Germany, Slovenia, and Italy were the key destinations for Croatia's exports in kind. Germany accounted for 26.1% of exports, Slovenia for 25.4%, and Italy for 13.3%. Together, these three countries represented 64.7% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Croatia in kind, 2017-2020

Exports in value, K $ US

Exports of iron or steel springs and leaves for springs from Croatia increased in value for the third consecutive year. In 2020, Croatia exported 11 183 thousand US dollars worth of these products, reflecting a significant gain of 11.3% compared to the previous year. Over the period from 2017 to 2020, export value rose by 30.1%, with a compound annual growth rate of 9.2%.

Annual dynamics of product's exports from Croatia in value, 2017-2020, K $ US

From 2017 to 2020, Slovenia, Germany, and Austria were the largest buyers of iron or steel springs and leaves for springs from Croatia in value terms. Slovenia accounted for 26.5% of exports, Germany for 20.5%, and Austria for 14.6%. Collectively, these three countries formed 61.6% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Croatia in value, 2017-2020

Imports iron or steel springs and leaves for springs to Croatia

Imports in kind, t

After a two-year increase, imports of iron or steel springs and leaves for springs into Croatia declined. In 2020, Croatia imported approximately 1 287 tonnes, which is 22.1% lower than in 2019. Over the period from 2017 to 2020, imports decreased by 21.7%, with a compound annual growth rate of -7.8%. The highest import volume was recorded in 2019 at 1 653 tonnes, while the largest increase occurred in 2018, with a modest rise of 0.3%.

Annual dynamics of product's imports to Croatia in kind, 2017-2020, t

From 2017 to 2020, Germany, Poland, and Turkey were the leading suppliers of iron or steel springs and leaves for springs to Croatia in kind. Germany accounted for 25.1% of imports, Poland for 22.6%, and Turkey for 11.8%. Their combined share reached 59.5% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Croatia in kind, 2017-2020

Imports in value, K $ US

After a two-year uptick, the value of imports of iron or steel springs and leaves for springs into Croatia declined. In 2020, Croatia imported approximately 6 324 thousand US dollars worth of these products, down by 12.6% compared to 2019. The highest import value was recorded in 2019 at 7 239 thousand US dollars, while the largest increase occurred in 2018, with a rise of 14.8%.

Annual dynamics of product's imports to Croatia in value, 2017-2020, K $ US

From 2017 to 2020, Germany, Poland, and Italy consistently held leading positions in Croatia's import structure in value terms. Germany accounted for 33.4% of imports, Poland for 16.6%, and Italy for 12.5%. Together, these three countries jointly accounted for 62.4% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Croatia in value, 2017-2020