Croatia flag Croatia: Economic and Political Overview

Foreign trade figures of Croatia

Foreign Trade in Figures

Croatia joined the WTO in 2000 and depends heavily on foreign trade, which amounts to 125% of the GDP (World Bank, latest data available). The country mainly exports petroleum oils (6.3%), electrical energy (5.8%), petroleum gas and other gaseous hydrocarbons (5.6%), medicaments (2.7%), wood sawn or chipped lengthwise (2.3%); while imports are driven by petroleum gas and other gaseous hydrocarbons (9.4%), petroleum oils (non-crude) (6.9%), electrical energy (5.1%), motor cars and other motor vehicles (3.4%), petroleum oils and oils (crude) (2.9% - data Comtrade 2022).

In 2022, the main export partners were Italy (12.2%), Slovenia (11.6%), Germany (11.4%), Hungary (11.2%), and Bosnia and Herzegovina (10.4%). In the same period, the leading import origins were Italy (13.8%), Germany (12.5%), Slovenia (10.8%), the United States (7.6%), and Hungary (7.3% - Comtrade). Overall, the EU accounted for 68.7% of total exports and 70.4% for imports (DZS).

In terms of merchandise, Croatia has a structural trade deficit: according to figures by the WTO, in 2022 exports of goods totaled USD 25.3 billion (+15.6% y-o-y) while imports increased by 28.3%, to USD 44.3 billion. However, the country is a net exporter of services, with exports – at USD 20.9 billion – far above imports (USD 6 billion). According to figures by the World Bank, the overall trade deficit stood at an estimated 6.2% of GDP in 2022, much higher than the level of 2.7% recorded one year earlier. Preliminary figures from the Croatian Bureau of Statistics show that in 2023 exports declined by 5.3% year-on-year to EUR 22.834 billion, while imports saw a 6% decrease to EUR 39.373 billion.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 28,16026,83034,52744,62343,181
Exports of Goods (million USD) 17,18017,19321,87825,46724,894
Imports of Services (million USD) 5,6914,1405,3016,0507,265
Exports of Services (million USD) 17,17710,28516,88520,34124,292

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 99.7101.690.0104.0125.9
Trade Balance (million USD) -11,440-11,754-10,083-12,602-18,906
Trade Balance (Including Service) (million USD) -648-289-3,948-1,023-4,355
Imports of Goods and Services (Annual % Change) 7.56.6-12.417.625.0
Exports of Goods and Services (Annual % Change) 3.76.8-23.336.425.4
Imports of Goods and Services (in % of GDP) 50.351.048.552.765.3
Exports of Goods and Services (in % of GDP) 49.450.641.551.360.6

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) -2.91.52.82.82.8
Volume of imports of goods and services (Annual % change) -5.31.92.62.62.8

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Slovenia is a member of the EU since July 1st, 2013 and as such is a member of the EU Customs Union. The Republic of Croatia has signed agreements on free trade with the countries of former Yugoslavia: Albania, Turkey, Moldova, and Macedonia.
 

Main Partner Countries

Main Customers
(% of Exports)
2023
Italy 12.2%
Germany 12.2%
Slovenia 11.2%
Bosnia and Herzegovina 10.1%
Hungary 6.9%
See More Countries 47.4%
Main Suppliers
(% of Imports)
2023
Italy 14.5%
Germany 14.2%
Slovenia 11.5%
Hungary 6.4%
Austria 5.5%
See More Countries 47.8%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

24.7 bn USD of products exported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 5.0%
Electrical energyElectrical energy 3.4%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.3%
Electrical transformers, static converters, e.g....Electrical transformers, static converters, e.g. rectifiers, and inductors; parts thereof 2.7%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 2.3%
See More Products 83.4%
42.6 bn USD of products imported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 6.0%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 5.1%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.9%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.7%
Electrical energyElectrical energy 2.2%
See More Products 79.1%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: April 2024