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Exports and Imports Grow in First Seven Months of the Year

By   /   07/10/2016  /   Comments Off on Exports and Imports Grow in First Seven Months of the Year

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Zagreb, October 7, 2016/Independent Balkan News Agency

Croatian export of goods in the first seven months of this year amounted to 51 billion kuna, which was 1.5 percent more than in the same period last year, while imports reached 83.7 billion kuna and were 1.7 percent higher, reported the Central Bureau for Statistics. These are somewhat higher rates of growth than the initial data announced earlier by the Central Bureau of Statistics, reports N1 on October 7, 2016.

Croatian foreign trade deficit in the first seven months amounted to 32.6 billion kuna, which was 672.6 million kuna or 2.1 percent more than in the first seven months of 2015. The import-export ratio in the first seven months stood at 61 percent, slightly less than 61.1 percent from the same period last year.

Expressed in euros, Croatian exports in the period amounted to 6.8 billion euros or 2.4 percent more than in the same period last year, while imports stood at 11 billion euros or 2.7 percent higher. Foreign trade deficit in the first seven months amounted to 4.3 billion euros.

The most important foreign market for Croatian products was the European Union, where Croatia exported goods worth 4.5 billion euros or 1.9 percent more than in the first seven months of last year. Imports from other EU member states grew by 4.1 percent to 8.7 billion euros. Exports to CEFTA countries reached 1.11 billion euros and were 2.6 percent lower, while imports from these countries increased by 14 percent to 642.2 million euros. Individually, the most important Croatian foreign trade partners were Germany, Italy and Slovenia.

In terms of sectors, among those with significant shares in total exports, the largest increase was recorded in the pharmaceutical industry, which an increase of 46.9 percent to 447.2 million euros, as well as in the production of motor vehicles, trailers and semi-trailers, with exports growing by 25.6 percent to 248.7 million euros. On the other hand, a significant decline in exports was reported in the production of petroleum products, by 34.3 percent to 320.5 million euros, as well as in the manufacture of transport equipment, which includes the shipbuilding industry, where exports decreased by 43.9 percent , to 134.8 million euros.

Source: Total Croatia News

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