ZAGREB, March 20 (Hina) - Croatia's exports in 1999 were only at the level of 1994, whereas imports increased by 49 percent in comparison to 1994. Analysing the results of Croatia's foreign trade in the past six years, one can
conclude that annual deficits in trade with foreign countries put together amount to as much as 20 billion US dollars. These are only some of the indicators which show that the economic policy implemented over the past several years favoured import and commerce instead of production and export. According to the State Institute for Statistics, Croatia's exports last year amounted to US$4.23 billion, which is 5.8 percent less than the year before, whereas imports amounted to US$7.78 billion, which is a 7.2 percent decrease in relation to 1998. This decrease in imports last year was caused primarily by a decrease in domestic demand, which resulted in a significant decrease in imports of pr
ZAGREB, March 20 (Hina) - Croatia's exports in 1999 were only at the
level of 1994, whereas imports increased by 49 percent in
comparison to 1994. Analysing the results of Croatia's foreign
trade in the past six years, one can conclude that annual deficits
in trade with foreign countries put together amount to as much as 20
billion US dollars. These are only some of the indicators which show
that the economic policy implemented over the past several years
favoured import and commerce instead of production and export.
According to the State Institute for Statistics, Croatia's exports
last year amounted to US$4.23 billion, which is 5.8 percent less
than the year before, whereas imports amounted to US$7.78 billion,
which is a 7.2 percent decrease in relation to 1998.
This decrease in imports last year was caused primarily by a
decrease in domestic demand, which resulted in a significant
decrease in imports of production material, investment goods and
consumer goods.
That last year's exports of US$4.279 billion are on the level of
1994, according to the Croatian Chamber of Commerce, is really
devastating information, especially if it is compared to other
countries in transition, such as Slovenia, the Czech Republic, and
Poland, which in the same period almost doubled their exports.
For example, according to recently published data of the Slovene
Institute for Statistics, in 1999 Slovenia realised exports
amounting to US$8.5 billion, whereas its imports amounted to 9.9
billion dollars. The Slovene import/export ratio was 86 percent
while in Croatia it was a mere 55 percent.
Such developments in Croatia's foreign trade activities, according
to most analysts, including those from the Croatian Chamber of
Commerce, reflect primarily the stagnation of the country's entire
economy as well as the fact that its production facilities are
lagging behind in technology; they also reflect the country's
isolation, its failure to join European integration processes, the
cancellation of a trade agreement with Bosnia-Herzegovina (which
caused an export decrease of 16.3 percent) and the crisis on the
Russian market, where Croatian exports fell by almost 58 percent.
Exports to the European Union countries, which account for 48.7
percent of the entire Croatian export, last year decreased by 3.4
percent (to just above two billion US dollars).
(hina) mm rml