Croatia's exports increase faster than imports

Croatian commodity exports in the first nine months of 2015 increased by 11.2 per cent compared with the same period of 2014, while imports rose by 6.4 per cent, according to figures released by the National Bureau of Statistics (DZS) on Wednesday.

Initial data, released in early November, indicated that exports in the first nine months of the year had gone up by 10.5 per cent and imports by 5.5 per cent.

According to the latest figures, in the first nine months of 2015 Croatia exported HRK 64.5 billion worth of commodities and imported HRK 105.5 billion. The trade deficit was HRK 40.98 billion, or 0.3 per cent less than at the same time last year. The coverage of imports by exports was 61.1 per cent.

Viewed in euros, exports amounted to EUR 8.5 billion, an increase of 11.3 per cent, and imports increased by 6.5 per cent to EUR 13.8 billion. The trade gap was EUR 5.4 billion, or 0.2 per cent lower than last year.

The European Union remained the main market for Croatian products, accounting for 66.2 per cent of exports. Croatia exported EUR 5.6 billion worth of commodities to EU countries, up 16.1 per cent compared with the corresponding period of 2014, while imports from the EU went up by 10.2 per cent to EUR 10.7 billion.

Exports to Central European Free Trade Agreement (CEFTA) countries fell by 2.6 per cent to EUR 1.5 billion, while imports rose by 8.9 per cent to EUR 752.9 million.

Croatia's main trading partner was Germany, with a total volume of trade exceeding EUR 3 billion, followed by Italy and Slovenia.

In the first nine months of the year Croatian exports to Italy reached EUR 1.1 billion, an increase of 4.5 per cent compared with the same period of 2014, while imports rose by 1.4 per cent to EUR 1.8 billion.

Exports to Slovenia went up by 19.4 per cent to EUR 1.04 billion, while imports rose by 4.8 per cent to EUR 1.47 billion. Exports to Germany totalled EUR 952.8 million, up 11.6 per cent, while imports increased by 8.5 per cent to EUR 2.1 billion.

Last update: Wed, 09/12/2015 - 13:36

More from Business

Financial leaders in Davos optimistic about US, but see trade risk

The US economy will likely profit from the planned policies of its new president, as long as Donald Trump does not...

Facebook to build data centre in Denmark

The Danish city of Odense and social media giant Facebook announced on Thursday the city was to host a new European...

Freight train from China crosses 12,000 kilometres to London

The first Britain-bound freight train from China arrived in London on Wednesday, completing an 18-day trip across...

US prosecutors finalize 7.2-bln-dollar settlement with Deutsche Bank

The US Justice Department announced a 7.2-billion-dollar settlement Tuesday with Deutsche Bank over allegations that...

General Motors announces 1-billion-dollar investment in US workforce

General Motors will join other carmakers in opting to invest and hire inside the United States, the company...