SeenewsSeenews
Search
Seenews
AlertsSeenewsSeenews
Searchclose
TOPICS
arrow
COUNTRIES
arrow
INDUSTRY
arrow
Economy
arrow
Browse Economy
Mix and match your focus countries with our advanced search
Investments
arrow
Browse Investments
Mix and match your focus countries with our advanced search
Deals
arrow
Browse Deals
Mix and match your focus countries with our advanced search
Tech
arrow
Browse Tech
Mix and match your focus countries with our advanced search
Green
arrow
Browse Green
Mix and match your focus countries with our advanced search
0/5
You have 5 free articles left this month
You have 0/5 free articles
Get your free Basic subscription now and gain instant access to more
SIGN UP
arrow
LOGIN
arrow

Croatia‘s gap on current, capital account widens in Q1 - table

Jun 28, 2024, 7:14:03 PMArticle by Annie Tsoneva
share
June 28 (SeeNews) - Croatia ran a deficit of 2.54 billion euro ($2.72 billion) on its current and capital account of the balance of payments in the first quarter of this year, up from a deficit of 2.18 billion euro in the same period of 2023, the central bank said on Friday.

Croatia‘s gap on current, capital account widens in Q1 - table
Luka Rijeka. Source: Luka Rijeka

"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)

Your complete guide to the emerging economies of Southeast Europe. From latest news to bespoke research – the big picture at the tip of your fingers.