Exports stagnate, imports rise

ZAGREB, Sept 28 (Hina) - Croatia's foreign trade in the first eight months of 2012 saw a year-on-year stagnation of exports when expressed in the national currency and a 1.6 per cent decline when expressed in euros, while imports went up 2.3% when expressed in kuna and 0.7% in euro.

The export-import ratio was 56.9%, the State Bureau of Statistics said on Friday.

Exports in January-August 2012 amounted to HRK 46.7 billion, the same as in the first eight months of 2011, while imports went up 2.3% to HRK 82.03 billion.

The trade deficit was HRK 35.3 billion, up 5.5% on the year.

Expressed in euros, exports amounted to EUR 6.2 billion, down 1.6% on the year, while imports went up 0.7% to EUR 10.9 billion.

The deficit was EUR 4.7 billion, up 3.8% on the year.

Exports in August 2012 amounted to EUR 775.7 million, up 0.8% on the year, while imports reached EUR 1.3 billion, up 8.2%.

Croatia's principal trade partner is the European Union, with exports in the first eight months of 2012 reaching EUR 3.6 billion, down 3.9% on the year, while imports grew 4% to EUR 6.8 billion.

Broken down by country, Croatia's main trade partners were Italy and Germany. Exports to Italy dropped 15.8% to EUR 896.3 million, while imports grew 9.6% to EUR 1.8 billion. Exports to Germany grew 1.9% to EUR 660.9 million, while imports grew 3.9% to EUR 1.4 billion.

Croatia's exports to Bosnia and Herzegovina amounted to EUR 776.3 million, up 1.5% from the first eight months of 2011, while imports declined 0.6% to EUR 364.6 million.