The downward trajectory of the economy, with a focus on the textile and clothing industry - current situation and business results

Abstract

The result of the ten-year transition process in the Republic of Croatia is the economic stagnation of the physical volume of industrial production, employment, and a large foreign trade deficit. The right way out of the crisis requires a clear, long-term development strategy of the economy, and this is the task of the Government of the Republic of Croatia, while the management people in the companies need to implement an effective restructuring process, after which only economically justified production can survive, and the resulting product must be market competitive and marketing recognizable. Only then can positive developments be expected for the textile and clothing industry, which refers to production, the number of employees and exports based on their own products.