Croatia’s current account balance turns to EUR 35.4mn surplus in 2012.

By bne IntelliNews April 4, 2013

Croatia's current account turned to a EUR 35.4mn surplus in 2012 from a EUR 385.2mn deficit a year earlier, preliminary data released by the central bank showed. The main contributing factor for the current account balance improvement was services, in particular revenues from tourism. The balance of services’ surplus rose 3.3% to EUR 6.4bn. Tourism revenue rose 3.2% to EUR 6.8bn in 2012. Net transportation revenue worsened, dropping 7.8% to EUR 255.3mn. The surplus on current transfers stepped up 2% to EUR 1.16bn. The merchandise trade gap narrowed 2.1% to EUR 6bn in 2012, while the deficit on the income balance dropped 4.1% to EUR 1.49bn.

The capital and financial account was in surplus of EUR 397.5mn in 2012, following a EUR 1.48bn surplus in 2011. Net FDI inflow inched down 0.7% to EUR 1.05bn, reflecting the weak economic development in most EU countries. The net portfolio investments amounted to EUR 1.9bn, up 195.9%. In the meantime, the net outflow of other investments was EUR 2.6bn in 2012, following an inflow of EUR 211mn a year earlier.

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