ZAGREB, May 9, 2018 - In the first two months of 2018, Croatia recorded a fall in exports and a rise in imports year-on-year, as it did in the first three months of 2018, resulting in a higher trade deficit and a lower export-import ratio, according to data released by the national statistical office DZS on Wednesday.
In the first two months of 2018, Croatia exported 15.58 billion kuna worth of goods, down 1.2% year on year, while imports went up 6.7% to 25.47 billion kuna. The trade deficit was 9.9 billion kuna, up 1.8 billion on the year. The export-import ratio was 61.2%.
Expressed in euro, exports in the first two months of 2018 fell 0.6% on the year to 2.09 billion euro, while imports went up 7.4% to 3.41 billion euro. The trade deficit was 1.32 billion euro, up 247 million euro on the year.
In the first three months of 2018, exports fell 4% to 24.3 billion kuna, while imports went up 6.6% to 41.7 billion kuna. The trade deficit was 17.4 billion kuna, up from 13.8 billion kuna in the first three months of 2017. Year-on-year, the export-import ratio fell from 64.7% to 58.3%.
Expressed in euro, exports in the first three months of 2018 totalled 3.26 billion euro, down 3.6% on the year, while imports went up 7% to 5.59 billion euro. The trade deficit was 2.33 billion euro, up from 1.85 billion euro in the first three months of 2017.
In the first three months of 2018, the export decline was impacted by a 15.7% decline in exports to non-European Union member states, which fell to 999.75 million euro, while exports to EU member states rose 2.9% to 2.26 billion euro.
Imports from EU member states rose 6.6% to 4.42 billion euro, while imports from non-EU member states rose 8.2% to euro 1.17 billion.
In the first two months of 2018, exports to EU member states rose 6.5% to 1.45 billion euro, while imports rose 7.2% to 2.72 billion euro.
Croatia recorded higher exports to its two main trade partners, Germany, by 17.6% to 300.7 million euro, and Italy, by 11.1% to 300.2 million euro. Exports to Slovenia fell 3.6% to 228.7 million euro.
Exports to Central European Free Trade Agreement countries fell by 3.8% to 325.5 million euro, including to Bosnia and Herzegovina, by 8.1% to 180.7 million euro, and Serbia, by 9.8% to 88.9 million euro.
