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.

Related Articles

Croatian prime minister nominates new crisis manager for troubled Agrokor

Croatian Prime Minister Andrej Plenkovic has proposed former McKinsey consultant Fabris Perusko as the new crisis manager of troubled food and retail group Agrokor, the government ... more

Agrokor owner files case against Croatia with European Commission

The owner of Croatia’s heavily indebted food and retail giant Agrokor, Ivica Todoric, wrote on his blog on January 11 that he has filed a lawsuit against Croatia with the European Commission over ... more

Explosion at Austrian gas hub interrupts supplies to Italy, Hungary and Slovenia

An explosion at the site of Austrian OMV’s Baumgarten natural gas hub has interrupted gas transit to Italy, Slovenia and Hungary, the Austrian government’s electricity and gas markets regulator ... more