Croatia's postal service market in 2021 posted total revenues of 1.97 billion kuna (€260 million) or 9 percent up from 2020, state agency Hina said on Tuesday, citing report released by the state regulator Hakom.

The year-on-year rise in revenue was mostly owing to an increase in postal market revenue in Q4 to 544.5 million kuna, which Hakom said was “the highest revenue in a single quarter since it started following the market.” Hina did not clarify when did Hakom start following the market.

In Q4 2021 the revenues were 7.8 percent up from Q4 2020, and 14.7 percent up from Q3 2021.

“The increase in revenues is attributed to increase in the number of parcels processed, as well as the increase in the number of other postal services with added value,” Hakom said.

In late 2021 there were 25 providers of postal services in Croatia. By far the largest one was the state-owned Croatian Post (HP) which holds a mammoth 87.2 percent share of services provided and accounts for 55.2 percent of the entire sector’s revenues.

(€1 = 7.56 kuna)