For the first time, Croatia exports more than it imports

According to preliminary data from the Croatian National Bank (CNB), the current account surplus in the second quarter amounted to three million euros, which represents an increase of 375 million euros compared to the same period last year.
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Croatian flag, Photo: Shutterstock
Croatian flag, Photo: Shutterstock
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.
Ažurirano: 03.10.2015. 07:25h

In the second quarter of this year, Croatia recorded a positive balance on the current account of the balance of payments, which means that for the first time its exports are greater than imports.

According to preliminary data from the Croatian National Bank (CNB), the current account surplus in the second quarter amounted to three million euros, which represents an increase of 375 million euros compared to the same period last year, reports Capital.ba.

"Looked cumulatively, in the last four quarters the balance of the current account in the balance of payments recorded a surplus in the amount of 2,1 percent of the gross domestic product (GDP), which is its highest historical value," Raiffeisen bank analysts assessed.

According to their opinion, the biggest positive contribution to the significant improvement in the second quarter came from the reduction of the deficit on the goods sub-account, which compared to the same quarter last year is lower by 120 million euros, or 6,4 percent.

Namely, revenues from the sale of goods in the second quarter of this year increased by 341 million euros, with a growth of 14,2 percent on an annual level, while expenditures based on the import of goods recorded an increase of 221 million euros, or 5,2 percent annually.

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