Current account surplus in Q3 2015 reaches EUR 3.89b

The surplus on Croatia's current account in the third quarter of 2015 was EUR 3.89 billion, up 38.9 percent on the year, mainly thanks to a good tourism season and bank losses due to the conversion of Swiss franc loans, according to central bank data.

In the first three quarters of 2015, the current account surplus was EUR 2.64 billion, up 176% on the year.

In Q3 2015, the current account surplus rose to 4.7% of GDP from 0.8% in Q4 2014. Central bank analysts estimate that the current account surplus for 2015 could be 4.8% of GDP.

Tourism revenues in Q3 2015 exceeded EUR 5 billion, up 7.5% on the year, while in the first three quarters of 2015 they reached EUR 7.3 billion, up 7.6% on the year.

Foreign direct investment in Q3 2015 amounted to EUR 147.9 million, down 64.1% from Q3 2014, while FDI in the first nine months of 2015 totalled EUR 666.1 million, as against nearly EUR 2.8 billion in the first nine months of 2014.

In the first nine months of 2015, banks reported losses of HRK 4.55 billion, mainly due to the conversion of loans denominated in Swiss franc into euros.

Last update: Sat, 02/01/2016 - 13:57

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