HGK: Import of agricultural products still too high

In the first ten months of 2015, Croatia exported 1.24 billion euro worth of agricultural and food products while imports amounted to 2.1 billion euro, generating a negative balance of 860 million euro, the Croatian Chamber of Commerce (HGK) reported on Thursday.

Compared with the same period in 2014, exports increased by 19% and imports grew by 9% and the deficit was reduced by 2%. The HGK said that it was pleased that the negative balance had been reduced, however, imports were still far too high. 

The coverage of imports by exports was 59%. The share of agricultural and food products in total commodity exports was 13% while the share of imports was 14%, the HGK said.

The most significant export product in that period was fresh fish, making up for 6.6% of total agricultural and food exports, followed by corn (6.1%), chocolate (5.4%), sugar (5.4%), etc. 

The most significant import products were fresh pork (6%), chocolate (4.6%), bread and pastries (4.5%), fodder (4.2%) and various other food products (3.8%).

"We are pleased that the trade deficit is contracting, however, imports are still far too high," the HGK's Bozica Markovic said. She was hopeful that "structural changes will accelerate the reduction of the deficit and improve the competitiveness and export of agricultural products."

 

(1 EUR = 7.66 HRK)

Last update: Thu, 04/02/2016 - 18:00
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