Croatia Increased Export Nine Times to Land of Fire, Water and Ice

By 11 July 2016

Croatian export to Iceland in the first four months of this year was nine times higher than the same period of last year, which is the largest rise of export in any country in this year

As state statistics show, Croatian companies in the first four months of this year have export to Iceland, the nation with 300,000 residents, goods in the amount of 2.2 million Euro. This is 822.1% more than the same time last year, when the value of Croatian export was only 240,000 Euro. The value of Croatian export to Iceland therefore exceeded in the first four months the total export in 2015 to that country, when it was just under 1.2 million Euro, Jutarnji List reported on July 9, 2016.

Although these are rather small numbers, the rise of Croatian export is very indicative. Part of the explanation for such a jump can undoubtedly be found in the fast the Croatia and Iceland are part of the European Economy Area, a mechanism expanding the unique EU market to three European Free Trade Areas - Iceland, Liechtenstein and Norway.

The data on actual goods exported was not published. But Croatian Chamber of Commerce data for last year show that last year we exported mostly electric transformers to Iceland, making up almost two thirds of our export to that country, followed by constructions and motor vehicle as well as massage machines and construction equipment.

The total value of exported goods by Croatian companies was 3.65 billion Euro. Out of that, two third or 2.47 billion Euro, was exported to EU.