Panel: Chance for Croatian exporters
What are the opportunities for Croatian exporters and what needs to be done to achieve them.
This is a key issue that will be discussed on the panel on Croatian exporters at this year’s Meeting G2.5 Conference Building Business Bridges. Over the past four years, we had the opportunity at G2 conferences to meet representatives of many Croatian exporters – big and small, those from the technological field and those from the design and food industry and others. For Croatia, it is essential to support the development and growth of Croatian exporters, given that only export-oriented economy can guarantee a small country a long-term sustainable economic growth. Moreover, in case of global recession, economic recovery would last shorter.
Figures do not lie – only 15 percent of Croatian companies export, and these companies employ over 50 percent of the employed in the Republic of Croatia and achieve more than 75 percent of the total profit.
In 10 years the exports doubled
What are the chances that Croatia’s exports will increase? Looking at the statistical data on exports, room for progress is evident, and in the past ten years we have shown that exports can greatly increase. In 2009, Croatian exports amounted to 56 billion kuna, which means that the coverage of import by export was only 49.5 percent.
Prior to joining the EU in 2013, we reached 58% and in the past two years we have exceeded the coverage of import by export of 60%. So, in 2018 exports amounted to 107 billion kuna, almost twice than ten years ago. At the same time the import amounted to 175 billion, which means that the coverage of import by export was 61.4 percent. There is no reason to not significantly increase export and the coverage of import by export in the following ten years.
A large number of Croatian emigrants live in North America, South America and Australia, while exports to these continents is only five percent. It is obvious that we have to use networking with Croatian business people abroad better.
Export to the EU amounts to 90 percent of Croatian exports
Since nearly 90 percent of Croatian exports are aimed at the EU countries and since it is common knowledge that a large number of our Croatian emigrants live in North and South America and Australia., it is essential to use those connections. Again figures don’t lie – our export to North, Central and South America amounts to less than 5 percent of all Croatian exports, and in Australia and Oceania it is just over 0.2 percent.
Obviously there is more room for improvement. The first step is discussion and Meeting G2 contributes to this important topic with the panel where exporters will share their experiences and answer essential questions, such as what the right path for Croatian exports is.
