Croatia doesn't anticipate direct negative Brexit impact: analysis

Source: Xinhua| 2020-01-30 20:35:23|Editor: xuxin
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ZAGREB, Jan. 30 (Xinhua) -- Brexit is not expected to have a significant and direct impact on the Croatian economy and the operation of the country's companies, said an analysis published on Thursday by the Croatian Chamber of Commerce.

Croatia and Britain have modest trade and economic ties, with imports of goods from Britain accounting for less than two percent of total Croatian imports.

British tourists in Croatia generate 4.5 percent of the local tourism sector's foreign exchange income.

Major problems could be experienced by Croatian pharmaceutical companies, which are responsible for 15 percent of the country's total exports to Britain.

The Croatian Chamber of Commerce estimates that Brexit will not significantly affect Croatia's largest foreign trade partners either, such as Germany, Italy, Slovenia and Austria.

In 2018, total goods trade between Croatia and Britain amounted to 514.2 million euros (566.9 million U.S. dollars), with Croatian goods exports totaling 218.4 million euros.

In the first three quarters of 2019, Croatian exports to Britain increased significantly, amounting to 852 million euros.

Croatia exports mainly medicines to Britain, while Britain exports mostly oil, telephones and food products to the southeastern European country. (1 euro = 1.10 U.S. dollar)