Croatia’s goods exports reached €13.7 billion in the first seven months of this year, marking a modest 2.4% increase compared to the same period in 2023, according to initial data from the Croatian Bureau of Statistics (CBS).
However, this growth was overshadowed by a sharper rise in imports, which surged by 5.5% to €24.9 billion, exacerbating the country’s trade deficit.
The trade shortfall now stands at €11.2 billion, with export coverage of imports slipping to 54.9%, down from 56.6% during the same period last year, as revealed by the CBS report.
Further analysis shows mixed fortunes in Croatia’s trade with the EU and non-EU markets. Exports to EU member states, worth €9 billion, dipped by 1.9%, while imports from the bloc jumped by 8.7%, totalling €19.5 billion. In contrast, exports to non-EU countries rose sharply by 11.9% to €4.6 billion, while imports from these markets fell by 5%, amounting to €5.3 billion.
The CBS also released revised figures for the first half of the year, showing a marginal 0.1% drop in exports, which totalled €11.5 billion, and a 4.7% rise in imports, which reached €21.2 billion. This left the trade deficit for the first six months at €9.7 billion, with export coverage at 54.2%.
While the export sector struggles to gain momentum, Croatia’s widening trade gap underscores the growing pressure on the country’s economy, with the rising cost of imports continuing to outstrip export growth.
