Croatia's trade gap shrinks 1.1% to EUR 6.5bn in 2012 stats office.

By bne IntelliNews February 1, 2013
Croatia's foreign trade deficit, measured in the local kuna currency, shrank 1.1% to HRK 49.3bn (EUR 6.5bn) in 2012, the statistics office said. According to IntelliNews calculations, the gap accounted for 14.4% of the projected full-year GDP as compared to 14.9% of GDP in 2011. In Jan-Dec, imports widened by an annual 0.4% to HRK 121.5bn, while exports increased by 1.4% on the year to HRK 72.2bn. The Jan-Dec trade deficit reached, down on the year. In December alone, however, the trade gap widened 28.2% on the year to HRK 3.28bn (EUR 435.8mn) after shrinking 30.8% in November. Exports went down an annual 18.4% to HRK 5.1bn in December, following a 23.2% yearly increase in the previous month. Imports dropped 4.9% on the year to HRK 8.4bn in December after falling 1.3% on the year a month earlier. In full 2012, imports of transport equipment and parts and accessories thereof rose the most compared to 2011 - by 7.4%, followed by fuels and lubricants, which saw a 5.2% increase, and imports of goods with a rise of 4.2%. Within the Jan-Dec exports, the highest annual increases were seen in the segments of goods, up 40.8%, and fuels and lubricants, up 15%, while the highest drop was reported in transport equipment and parts and accessories thereof, down 18.5%. The industrial sector classification indicated that the annual increase in Jan-Dec imports was mainly fuelled by a 22.3% rise in electricity, gas, steam and air conditioning supply and 4.4% increase in mining and quarrying. In the twelve-month export structure the highest growth was recorded in electricity, gas, steam and air conditioning supply (up 89.9% on the year), while the highest drop was seen in professional, scientific and technical activities (down 96% on the year).

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