In Q1 2018, Croatia's exports fall, imports rise

NEWS 09.05.2018 15:01
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Source: Pixabay

In the first three months of 2018, Croatia recorded a fall in exports and a rise in imports year-on-year, resulting in a higher trade deficit and a lower export-import ratio, according to data released by the national statistics bureau on Wednesday.

In Q1 2018, Croatia’s exports fell by 4 percent year-on-year to 24.3 billion kuna (3.3 billion), while imports went up 6.6 percent to 41.7 billion kuna (€5.6 billion). The trade deficit was 17.4 billion (2.35 billion), up from 13.8 billion (1.8 billion) in the first three months of 2017. Year-on-year, the export-import ratio fell to 58.3 percent from 64.7 percent compared to the same period the year before.

In the first three months of 2018, the export decline was impacted by a 15.7 percent decline in exports to non-EU countries, which fell to 999.75 million, while exports to EU member states rose by 2.9% percent to total 2.26 billion.

Imports from EU member states rose by 6.6 percent to 4.42 billion, while imports from non-EU member states rose 8.2 percent to 1.17 billion.

In the same period, Croatia recorded higher exports to its two main trade partners, – with Germany, by 17.6 percent to 300.7 million, and to Italy, by 11.1 percent to 300.2 million. Exports to Slovenia fell by 3.6 percent to 228.7 million.

Exports to Central European Free Trade Agreement (CEFTA) countries fell by 3.8 percent to 325.5 million, including to Bosnia and Herzegovina, by 8.1% percent to a total of 180.7 million, and Serbia, by 9.8 percent, to 88.9 million.

(€1 = 7.40 kuna)

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