Sandra Benčić’s statement about the decline in industrial and agricultural production and exports, and the increase in bank profits, is MOSTLY TRUE.
On April 11, 2024, Sandra Benčić (MOŽEMO!) stated during a meeting with citizens in Varaždin: “Industrial production has fallen, our exports have fallen, our agricultural production has fallen, and the only thing that has grown significantly are the revenues of the financial industry, i.e., banks. Bank profits grew at a rate of 90 percent in 2023.” (Source: Jutarnji list)
We investigated the statement and found that it is MOSTLY TRUE.
Official data from the Croatian Bureau of Statistics confirms the decline in industrial production, while for the component of merchandise trade (exports), there is no specific reference point for comparison, and the data is variable and not yet comparable.
Total seasonally and calendar-adjusted industrial production in the Republic of Croatia in February 2024 compared to January 2024 fell by 4.6%. In February 2024 compared to February 2023, calendar-adjusted industrial production in the Republic of Croatia fell by 5.7%. (Source: Croatian Bureau of Statistics)
Although the initial data on Croatia’s merchandise trade with foreign countries from the Croatian Bureau of Statistics (Source: Croatian Bureau of Statistics) for the first two months of 2024 showed that Croatian exports increased by 2.4% compared to the same period last year, the real test that will clarify whether this growth is a trend or just a temporary phenomenon will be the result of the first quarter, which will be known in a month.
The value of exports in January (1.68 billion euros) and February (1.78 billion) last year was lower than the annual average (1.9 billion), so a total of 110 million euros more in merchandise exports in those two months this year still cannot be a reliable sign of a reversal in the declining trend of export values from last year. (Source: Croatian Bureau of Statistics)
Data relating to agricultural production depend on the observed crops.
The growth in bank profits is confirmed by data from the Croatian National Bank (HNB) available on their official website. The total profit of all domestic banks last year jumped 92 percent to 1.36 billion euros. (Source: Croatian National Bank)
