"A Financial Agency analysis shows that in 2021 retail accounted for the highest number of businesses as well as revenue, expenditure and consolidated net profit, and that hospitality and tourism businesses had the highest revenue increase," state agency Hina said on Friday.

The analysis of annual financial statements shows that over the past 20 years retail has accounted for the largest number of businesses.

In 2021, 28,507 (18%) of the 144,259 businesses in operation were in retail, followed by those in professional, scientific and technical activities (22,717), and those in manufacturing (15,634). All businesses had 964,742 employees, up 3.4% on the year.

Manufacturing accounted for the largest number of employees (236,151 or 24.5%), followed by retail with 190,955. The number of employees increased the most in construction (+7,242 to 107,879), tourism and hospitality (+6,351 to 71,175), professional, scientific and technical activities (+3,808 to 65,272) and retail (+3,610).

Retail businesses reported the highest revenue (HRK 296.1 billion) as well as expenditure (HRK 282.1bn), followed by those in manufacturing (HRK 207.5bn in revenue and 194.9bn in expenditure), and those in construction (HRK 70.7bn in revenue and 66.9bn in expenditure). The highest year-on-year increase in revenue was recorded in tourism and hospitality (+65.8% to HRK 28.8bn), followed by energy supply (+55.1% to HRK 65.1bn).

Businesses in public administration, defence and mandatory social insurance posted a 9.9% decline in revenue to just under HRK 180 million.

In terms of net profit, retail businesses posted HRK 11.5 billion in 2021, up 49.8% on the year, followed by those in manufacturing (HRK 10.6bn), those in professional, scientific and technical activities (HRK 4.5bn), and those in information and communication (HRK 4.1bn).

(€1 = HRK 7.52)