Croatia records higher trade deficit in first seven months

Source: Xinhua| 2019-09-06 21:03:33|Editor: xuxin
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ZAGREB, Sept. 6 (Xinhua) -- Croatia recorded a higher trade deficit in the first seven months of 2019, compared to the same period last year, national statistics bureau announced on Friday.

Croatia's exports in the first seven months of this year went up 8.2 percent year on year to 66.4 billion kuna (9.9 billion U.S. dollars), while import reached 109.8 billion kuna (16.4 billion dollars) or an increase of 6.9 percent on year. The trade deficit was 43.4 billion kuna (6.5 billion dollars), 300 million dollars higher than in the same period last year.

Exports to EU member states rose by 6.7 percent, while exports to non-EU countries rose 11.5 percent.

In the same period, imports from EU-countries rose 9.7 percent, while imports from non-EU member states fell 3.4 percent.

Croatia joined the European Union in 2013.

In the first quarter of 2019, the southeastern European country's GDP jumped 3.9 percent. In the second quarter the economy marked slower growth of 2.4 percent.

In July 2019, Croatia launched a bid to join Europe's Exchange Rate Mechanism II, a step before joining the single currency. Croatia's economy remains one of the bloc's weakest. The average salary in June was 6,470 kuna (960 dollars) while unemployment stood at 7.1 percent.