Tag Archives: manufacturing economy

The Manufacturing Economy in Croatia is Limited but Increasing

Posted on August 4th, 2017
Croatia Manufacturing Economy

As a relatively new country in the European Union, Croatia has made great strides to develop its manufacturing economy. Now it is a leader in Eastern Europe and especially among the former states of Yugoslavia. Croatia has proven that with innovation and perseverance it could become a stable and productive member of the European Union. Growth in Manufacturing Manufacturing is not the backbone of the country’s economy. 70% of Croatian GDP comes from the tertiary sector, or services, which is about $94.2 billion USD annually in purchasing power. Despite being a smaller section of the economy, manufacturing nonetheless grows in importance and power each year.  In 2015, manufacturing saw a 2.7% revenue increase. In 2016, it realized a 3.5% increase. Today, manufacturing makes up about 26% of the GDP.  In the last two years, Croatian exports broke 10 billion euros. 94%…

Autos, Electronics, and Steel Play a Major Role in The Manufacturing Economy of Slovakia

Posted on August 1st, 2017
Slovakia Manufacturing

Slovakia’s manufacturing economy has been booming in the last decade since its entry into the Eurozone in 2004 and the adoption of the Euro as currency in 2009. Currently, the manufacturing industry is responsible for more than 30% of Slovakia’s gross domestic product. Their unemployment rate is hovering around 8% in 2017. Slovakia has lower wages than some of its trading partners such as Germany or the Czech Republic, making it a magnet for foreign investors who prefer to move manufacturing operations to Slovakia for cheaper labor. As a matter of fact, some of its major companies are subsidiaries of renowned automakers such as Volkswagen and KIA, which has also placed the country as a leader in the automotive industry. Volkswagen Volkswagen is one of the largest automotive companies in the world, and it has a major headquarters in Slovakia….