In the first three months of 2018, Croatia recorded a fall in exports and a rise in imports year-on-year, resulting in a higher trade deficit and a lower export-import ratio, according to data released by the national statistics bureau on Wednesday.

In Q1 2018, Croatia’s exports fell by 4 percent year-on-year to 24.3 billion kuna (€3.3 billion), while imports went up 6.6 percent to 41.7 billion kuna (€5.6 billion). The trade deficit was 17.4 billion (€2.35 billion), up from 13.8 billion (€1.8 billion) in the first three months of 2017. Year-on-year, the export-import ratio fell to 58.3 percent from 64.7 percent compared to the same period the year before.

In the first three months of 2018, the export decline was impacted by a 15.7 percent decline in exports to non-EU countries, which fell to €999.75 million, while exports to EU member states rose by 2.9% percent to total €2.26 billion.

Imports from EU member states rose by 6.6 percent to €4.42 billion, while imports from non-EU member states rose 8.2 percent to €1.17 billion.

In the same period, Croatia recorded higher exports to its two main trade partners, – with Germany, by 17.6 percent to €300.7 million, and to Italy, by 11.1 percent to €300.2 million. Exports to Slovenia fell by 3.6 percent to €228.7 million.

Exports to Central European Free Trade Agreement (CEFTA) countries fell by 3.8 percent to €325.5 million, including to Bosnia and Herzegovina, by 8.1% percent to a total of €180.7 million, and Serbia, by 9.8 percent, to €88.9 million.

(€1 = 7.40 kuna)

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