"This was mostly due to a fall of 280 million euro in the positive balance in the services sub-account from the same quarter of the year before, primarily as a result of smaller revenues from manufacturing services on physical inputs, which were unusually high in the same quarter of the year before," the central bank said in a press release.
The balance in capital transactions worsened by 260 million euro, although it remained positive at 200 million euro, it added.
Details on Croatia's balance of payment follow (in millions of euro, unless otherwise stated):
Q1'24 |
Q1'23 | Q1 2024 (as % of GDP) | |
CURRENT ACCOUNT BALANCE |
-2.741 | -2.635 | 0.9 |
Goods | -4.319 | -4.412 | -22.2 |
Services | 853 | 1.134 | 20.0 |
o/w:tourism revenue: | 825 | 662 | 19.0 |
Primary income | 243 | 203 | 0.1 |
Secondary income | 483 | 439 | 3.0 |
CAPITAL ACCOUNT | 201 | 458 | 2.5 |
CURRENT and CAPITAL ACCOUNT | -2.540 | -2.177 | 3.4 |
FINANCIAL ACCOUNT | -2.702 | -761 | -0.9 |
Direct investment | -701 | -570 | -2.0 |
Portfolio investment |
1.023 | -2.329 | 3.3 |
Financial derivatives | -469 | -328 | -1.5 |
Other investment | -2.369 | 3.304 | -0.3 |
Reserve assets | -187 | -838 | -0.5 |
NET ERRORS & OMISSIONS | -163 | 1,417 | -4.4 |
Q1'24
CURRENT ACCOUNT BALANCE
Portfolio investment
($ = 0.933 euro)