FOREIGN TRADE IN GOODS
The total export of the Republic of Croatia from January to March 2022, according to provisional data, amounted to 41.9 billion kuna and it was 11.3 billion kuna, or 37.1%, higher than in the same period of 2021. At the same time, the total import of the Republic of Croatia amounted to 67.8 billion kuna, which was an increase of 20.2 billion kuna, or 42.6%, compared to the same period of 2021.
Foreign trade deficit of the Republic of Croatia from January to March 2022 amounted to 25.9 billion kuna, which was 8.9 billion kuna, or 52.5%, more than in the same period of 2021.
In the period from January to March 2022, coverage of import by export was 61.8%, while in the period from January to March 2021, it amounted to 64.3%.
The most important foreign trade partners in export of the Republic of Croatia are EU Member States. Export to EU Member States from January to March 2022 accounted for 72.4% of the total export and increased by 43.5% compared to the same period of 2021.
The largest foreign trade partners from the EU, from January to March 2022, observing data in kuna, were Slovenia – increase in export of 96.9% (share in total export of 14.8%), Italy – increase in export of 28.1% (share in total export of 12.2%) and Germany – increase in export of 25.9% (share in total export of 11.7%).
Export to non-EU Member States increased by 22.6% from January to March 2022 compared to the same period of 2021, and accounted for 27.6% of the total export. The largest foreign trade partners outside the EU, with which the Republic of Croatia realised trade in goods from January to March 2022, were its neighbouring countries Bosnia and Herzegovina and Serbia. In the observed period, export to Bosnia and Herzegovina increased by 61.2% (share in total export of 9.1%), while export to Serbia increased by 49.5% (share in total export of 4.8%).
The most important foreign trade partners in import of the Republic of Croatia were also EU Member States. Import from EU Member States from January to March 2022 accounted for 74.5% of total import and increased by 33.6% compared to the same period of 2021.
Import from Italy increased by 53.4% (share in total import of 13.4%), from Germany by 24.7% (share in total import of 13.3%) and from Slovenia by 43.0% (share in total import of 11.3%).
Import from non-EU Member States from January to March 2022 accounted for 25.5% of total import of the Republic of Croatia and increased by 77.7% compared to the same period of the previous year. From January to March 2022 compared to the same period of 2021, import from the USA increased significantly, by 724.3%, which accounted for 6.2% of the total import, and mostly refers to liquefied natural gas.
Foreign Trade in Goods of the Republic of Croatia with the Russian Federation and Ukraine
From January to February 2022, export to the Russian Federation amounted to 265.9 million kuna and decreased by 8.1% compared to the same period of 2021 (share in total export of 0.6%). The most exported goods were medicinal and pharmaceutical products, worth 101.2 million kuna, general-purpose industrial machinery, n. e. c., worth 56.9 million kuna, and essential oils and resinoids; perfumery, cosmetic or toilet preparations, worth 24.5 million kuna. Clothes were exported in the amount of 18.4 million kuna, which was a decrease of 66.5%, or 36.6 million kuna for the observed period.
Import from the Russian Federation in the same period amounted to 398.9 million kuna and decreased by 37.7% (share in total import of 0.6%). The most imported goods were non-ferrous metals, worth 198.5 million kuna, hard coal, coke and briquette, worth 151.4 million kuna, and products of cork and wood, worth 16.7 million kuna. A significant decrease was recorded in the import of petroleum and petroleum products from January to March 2022 compared to the same period of 2021, worth 322.1 million kuna, or 99.4%.
Export to Ukraine amounted to 85.3 million kuna and decreased by 38.5% from January to March 2022 compared to the same period of 2021 (share in total export of 0.2%). The most exported goods were medicinal and pharmaceutical products, worth 18.0 million kuna, special-purpose machinery, worth 17.8 million kuna, and essential oils and resinoids; perfumery, cosmetic or toilet preparations, worth 10.8 million kuna. In the observed period, the export of medicinal and pharmaceutical products decreased the most, by 79.0%, or 67.7 million kuna.
At the same time, import from Ukraine amounted to 125.6 million kuna and increased by 69.0% (share in total import of 0.2%) and the most imported goods were products of cork and wood, worth 24.8 million kuna, synthetic fertilisers, worth 18.8 million kuna, and electrical machinery, appliances and devices, worth 17.3 million kuna. In the observed period, the import of products of cork and wood increased the most, by 342.0%, or 19.2 million kuna.
