ZAGREB, Feb 4(Hina) - Croatia's balance of payments current account deficit in the first nine months of 2003 amounted to US523 million, which was 39.8 percent less than at the same time in 2002. The drop was the result of the growth
in tourism revenue in last year's third quarter, according to preliminary data from the central bank.
ZAGREB, Feb 4(Hina) - Croatia's balance of payments current account
deficit in the first nine months of 2003 amounted to US523 million,
which was 39.8 percent less than at the same time in 2002. The drop
was the result of the growth in tourism revenue in last year's third
quarter, according to preliminary data from the central bank.#L#
Last year's July-September period saw a record current account surplus
ever logged in a three-month period. At 1.998 billion, it was 117.2
percent higher that the current account surplus in the July-September
period of 2002 and was primarily due to net revenue from tourism,
which recorded a surplus of 3.8 billion, an increase of 81.4 percent
from the same time in 2002.
Tourism revenue in the January-September 2003 period accounted for a
surplus of 5.17 billion, which was 88.5 percent up from the same time
the year before.
The total surplus in the services account, which besides tourism
includes transport, amounted in the January-September 2003 period to
5.2 billion, up 80.9 percent from the same time in 2002.
In the commodities account, negative trends continue. The deficit in
the July-September 2003 period stood at 2.1 billion, up 38.8 percent
from the same time in 2002.
The total foreign trade deficit in last year's first nine months
amounted to a record high 5.66 billion, which was 39.3 percent higher
than in the same period in 2002.
However, the fact that the increase in the surplus in the services
account was higher than the increase in the commodities deficit
resulted in the former covering the latter in last year's first nine
months by 91.9 percent as opposed to 70.7 percent at the same time in
2002.
(Hina) ha