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

Raiffeisen to file lawsuit against new Croatian banking law

Austria's Raiffeisen Bank is preparing to file a complaint at the Croatian constitutional court later in July against a recent law that aims to declare thousands of its loans to Croatians void, ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Croatian central bank intervenes again to alleviate kuna’s appreciation

Croatia's central bank (HNB) purchased €101.5mn on the foreign exchange market on July 14 at an average kuna/euro rate of 7.4210 from local banks in order to alleviate the appreciation of the local ... more