ZAGREB, Sept 30 (Hina) - Deficit in Croatia's foreign trade in the first seven months of this year has been reduced by 13.5 per cent in relation to the same period last year. The decrease in trade deficit is the result of not only a
decreased imports, but also in exports. The amount of exported goods in the first six months was US$2.396 billion, which is 5.2 per cent less than in the same period last year, while imports decreased by 9.2 per cent, or US$4.448 billion, the State Bureau of Statistics said. A lack of demand for Croatian goods abroad was felt in almost all dominant export markets, the Croatian Chamber of Commerce warned. Croatian exports into the European Union marked a 3.2 per cent decrease, by 8.1 per cent into CEFTA member-countries and 21 per cent into developing countries. Croatia's exporters have in the past years been increasing the placement of goods on European "soft" markets, primarily thanks to the markets
ZAGREB, Sept 30 (Hina) - Deficit in Croatia's foreign trade in the
first seven months of this year has been reduced by 13.5 per cent in
relation to the same period last year. The decrease in trade deficit
is the result of not only a decreased imports, but also in exports.
The amount of exported goods in the first six months was US$2.396
billion, which is 5.2 per cent less than in the same period last
year, while imports decreased by 9.2 per cent, or US$4.448 billion,
the State Bureau of Statistics said.
A lack of demand for Croatian goods abroad was felt in almost all
dominant export markets, the Croatian Chamber of Commerce warned.
Croatian exports into the European Union marked a 3.2 per cent
decrease, by 8.1 per cent into CEFTA member-countries and 21 per
cent into developing countries.
Croatia's exporters have in the past years been increasing the
placement of goods on European "soft" markets, primarily thanks to
the markets of Bosnia-Herzegovina and Russia.
This year, however, because of the annulment of the non-customs
union between Croatia and Bosnia-Herzegovina, export into this
country has been decreased by 10.5 per cent and in the first six
months amounted to about US$315 million. Exports onto the Russian
market were also decreased by 62.7 per cent, to US$48.3 million.
Data on the structure of Croatian exports indicate an increasing
amount of job-processing. Active exports of job-processing have
already passed 49 per cent of the total exports, while they amounted
to 35.1 per cent in the first seven months of last year.
Job-processing, via which companies in fact sell their work force
and space, is the only aspect which registered a rise by 14 per cent,
in excess of a billion dollars.
At the same time, regular exports, worth US$1.2 billion in the first
seven months, has been decreased by 14.3 per cent. The part of
regular exports has lessened from 56.3 per cent in the first seven
months of last year to 50.9 per cent in the same period this year.
Croatian economy, burdened by illiquidity, technologically
obsolete production and high tax burdens is becoming less and less
competitive on the demanding world market, the Croatian Chamber of
Commerce Sector for Macroeconomic Analyses said, stressing that
one of the biggest problems of Croatian exporters was that it was
not a member of the World Trade Organisation and the Central
European Free Trade Agreement.
(hina) lml jn