Exports in first nine months decline by 4.8%, imports by 10.1%

NEWS 09.11.2020 14:23
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Source: Unsplash (ilustracija)

The value of Croatian commodity export in the first nine months of 2020 amonuted to HRK 80 billion, down 4.8% on the year, while imports dropped by 10.1%, to nearly HRK 126 billion, according to figures released by the national statistical office on Monday.

Due to a larger drop in imports than in exports, the foreign trade deficit in the first nine months decreased by 18% compared to the same period of last year, to HRK 46 billion.

A total of HRK 55.6 billion worth of commodities was exported to EU member states in the first nine months, a 2.4% decrease year-on-year. Exports to non-EU countries fell by 10% to HRK 24.4 billion.

The value of commodity imports from EU member states dropped by 10.7% to HRK 100.9 billion, and the value of imports from other countries dropped by 7.7% to HRK 25.1 billion.

Expressed in euros, Croatian commodity export in the first nine months of 2020 totalled €10.6 billion, a drop of 6.2% on the year, while imports declined by 11.4% to €16.75 billion.

The foreign trade deficit was €6.1 billion.

Exports to EU member states in the first nine months totalled €7.4 billion, 3.8% down year-on-year. At the same time, imports to non-EU countries dropped by 11.3% to €3.2 billion.

The value of imports from EU member states in the first nine months of 2020 dropped by 12% from the same period of last year, to €13.4 billion, while the value of imports from non-EU countries to Croatia fell by 9.1% to €3.3 billion.

Exports in first eight months 6.3% down, imports 10.8% down

The national statistical office also published data on trade in the first eight months of 2020, according to which exports, expressed in kuna, dropped by 6.3% to HRK 69.6 billion, while imports fell by 10.8% to HRK 111.6 billion.

This is a correction of the office’s preliminary statistics which put the value of Croatia’s commodity exports in the first eight months at HRK 69.5 billion, a 6.5% decrease compared to the same period of last year, while imports dropped by 11.1% to HRK 111.1 billion.

According to the latest data, the foreign trade deficit in the first eight months amounted to HRK 41.9 billion, and the export-import coverage ratio was 62.4%

Expressed in euros, exports in the first eight months dropped by 7.6% to €9.3 billion, while imports fell by 12% to €14.85 billion.

The foreign trade deficit was €5.6 billion.

(€1 = HRK 7.5)