Croatia trade gap jumps 6.3% y/y in Jan-June – stats office

By bne IntelliNews August 12, 2013

Croatia’s foreign trade deficit, measured in the local kuna currency, increased 6.3% on the year, reaching HRK 28.5bn (EUR 3.8bn), according to information of the statistics office. The gap declined an annual 1.6% in Jan-May.

In our calculations the first-half deficit accounted to 8.3% of the projected full-year GDP - compared to 8.1% of GDP in Jan-Jun 2012.

Exports dropped by 4.3% in the first six months of 2013 to HRK 33bn, while imports increased by 0.3% y/y to HRK 61.5bn.

Imports of electricity, gas, steam and air supply dropped by 44.9% on the year. Imports of computer electronics increased by 29.9%, while imports of food products rose by 5.6% y/y.

Manufactured goods exports declined by 4.6% y/y for the Jan-June period. Pharmaceutical exports jumped 20.5% y/y, while motor vehicles declined by 4.6% on the year. Export of food products declined by 5.5% y/y.

The country’s trade gap in June 2013 widened by 49.1%  on the year to HRK 6.3bn. Exports declined by an annual 7% to HRK 5.5bn in June, while imports went up 16.4% y/y to HRK 11.9bn.

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