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Exports in 2014 up 8.4% y-o-y

Author: rmli
ZAGREB, Feb 10 (Hina) - Croatian commodity exports in 2014 totalled HRK 78.68 billion, HRK 6.1 billion or 8.4% more than the year before, the national statistical office DZS said on Tuesday.

The office's preliminary data shows that imports in 2014 totalled HRK 129.7 billion, 3.7% or 4.6 billion more than in 2013.

The foreign trade deficit was HRK 51.05 billion, 2.7% or HRK 1.4 billion down from 2013.

Coverage of imports by exports improved from 58.1% in 2013 to 60.7%.

Croatia exported 63.6% of its commodities to EU countries, totalling HRK 50.1 billion or 11.8% up from 2013.

Imports from EU countries accounted for 76.3% of all imports, totalling HRK 98.9 billion, a 7% increase from 2013.

Commodity exports to non-EU countries were HRK 28.57 billion, up 2.8% compared to the year before.

Imports from non-EU countries were HRK 30.8 billion, 5.6% down from 2013.

Commenting on the statistics, Deputy PM Branko Grcic, who is in charge of regional development and EU funds, said that positive trends were continuing and that he hoped this year would see a turnaround in GDP.

Asked what had contributed the most to the improvement of economic trends, Grcic said he believed that the country's membership of the EU had started yielding results.

"The European market is the dominant market for our producers and exporters. You can see that the growth dynamic of exports to the European market has increased, by almost 12% in 2014, which has not been recorded for a long time... Domestic demand has recovered mildly, which is also important for GDP. I only hope the positive trends will continue in the months to come, but we remain cautious," he said.

(EUR 1 = HRK 7.709618)

(Hina) rml

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