ZAGREB, Feb 19 (Hina) - According to provisional data released by the Croatian National Bank (HNB), Croatia's balance-of-payments current account deficit in the first nine months of 2002 totalled US$588.5 million and was accompanied
by positive effects of capital and financial transactions and an increase in the central bank's foreign currency reserves.
ZAGREB, Feb 19 (Hina) - According to provisional data released by
the Croatian National Bank (HNB), Croatia's balance-of-payments
current account deficit in the first nine months of 2002 totalled
US$588.5 million and was accompanied by positive effects of capital
and financial transactions and an increase in the central bank's
foreign currency reserves. #L#
The recorded deficit in the current account in last year's first
three quarters is 135.2% higher than in the same period of 2001,
when it totalled US$250.2 million.
Analysts with the Croatian Chamber of Commerce warn that such
developments in the balance-of-payments current account continue
the negative trends which started in 2001. From 1997 on, whose first
three quarters saw the highest current account deficit in the past
decade - US$1.08 billion, the deficit continued to decrease,
turning into surplus in the first three quarters of 2000.
In this year's first nine months, foreign trade deficit totalled
3.8 billion dollars, which is 23.4% more than in the same period the
year before. At the same time, surplus in trade in services was 8.9%
higher and in the first three quarters totalled 2.86 billion
dollars. Thus the coverage of trade deficit with surplus in trade in
services in last year's first three quarters dropped to 75.1%, from
85.1% in 2001 and 91.7% in 2000.
According to the HNB bulletin for January on movements in the
balance-of-payments current account, current transactions in last
year's first nine months saw a surplus of 800 million dollars, 11.9%
more than in the same period the year before. Incomes saw a deficit
of 443 million dollars, 12.6% less than in the first three quarters
of 2001.
(hina) rml