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.
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