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Exports rise 10.5% in first 8 months, rise slows down to 1.5% in August

Author: mses
ZAGREB, Nov 7 (Hina) - Croatia's exports increased 10.5% in the first eight months of 2014 compared to the corresponding period in 2013, however, this rise decelerated markedly to 1.5% in August year on year, the Central Bureau of Statistics (DZS) has reported.

Exports in the January-August period totalled HRK 50.7 billion, 10.5% up from the January-August period 2013, while imports increased 4.5% to HRK 86.7 billion.

Thus, the foreign trade deficit at the end of August came to HRK 36 billion, 1.6 billion or 3.1% less than in the same period last year.

The export-import coverage rate reached 58.4% as against 57.3% at the end of August 2013.

However, August saw a slowing-down in the export rise rate, after the first seven months registered a rate of 12.1%

Expressed in euros, Croatia's exports in the first eight months rose 9.6% to EUR 6.6 billion, and imports increased 3.5% to EUR 11.4 billion, resulting in a deficit of EUR 4.7 billion.

European Union member-states were Croatia's main trading partners.

Exports to the EU amounted to 64% of all Croatian exports in the first eight months, and imports from the EU stood at 74% of all imports.

In the first eight months, Croatia's exports to the EU totalled HRK 32.4 billion, a jump of 13.9%, and imports increased by 6.7% to HRK 64.7 billion.

Croatia's exports to the countries covered by the Central European Free Trade Agreement (CEFTA) increased by 13.5% to HRK 10.3 billion, and imports dropped 6.7% to HRK 4.6 billion.

Broken down by type of products, exports of clothes jumped the most, by 48.7%.

Exports of timber and wood products saw a rise of 31.1% and food exports increased 18.1%.

Clothes imports jumped by 68%, while food imports rose 10%.

(Hina) ms

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