Trading Partner Portal: Croatia
Croatia is an Eastern European country that borders the Adriatic Sea. The World Bank classifies Croatia as a high income country, with a population of 4.15 million people and a gross domestic product (GDP) of $54.85 billion. Croatia joined the European Union in 2013 to improve it’s economy and expand trade opportunities. Croatia’s major trade partners are other European countries, especially Italy and Germany. World Bank, CIA
The United States and Croatia’s trade relationship has fluctuated in the last ten years, though imports into the US have remained seemingly steady. The exports from the US to Croatia have risen and fallen from 2005; however exports have still increased from 2005. In 2018, the US exported nearly $615 million of goods to Croatia. Minerals and ores were the largest export; it made up 58.4% of the total, with a value of $359 million. The other significant exports were oil and gas at $72 million, chemicals at $36 million; non-electrical machinery, with a value of roughly $29.9 million. In the same year, the US imported $465.8 million worth of goods from Croatia. In 2018, $203 million of imported goods from Croatia were chemicals, comprising 43.6% of the total. After chemicals, the three largest imports were fabricated metal products, non-electrical machinery, and electrical equipment. US Department of Commerce
The U.S.’ FDI into Croatia in 2017 totaled $199 million. Bureau of Economic Analysis, U.S. Department of Commerce
Croatia- California Trade
Out of the $615 million worth of goods the US exported to Croatia in 2018, California contributed approximately $22.8 million. In the US, California is one of the top ten largest exporting states to Croatia. 32% of California exports to Croatia were agricultural products, which had a value of over $7 million. California exported $4.8 million of computers and electronic products, and $4.6 million of non-electrical machinery. In 2018, California imported $13 million worth of goods. Over 35% of goods imported from Croatia to California were made up of non-electrical machinery, this was followed by food manufactures and agricultural products making up $1.8 million and $1.45 million of the total, respectively. US Department of Commerce
Trade Agreements and Issues
Transatlantic Trade and Investment Partnership (TTIP)
Croatia is one of the nations that is currently involved in negotiations for the Transatlantic Trade and Investment Partnership (TTIP) with the rest of the European Union and the United States. The United States and the European Union have a strong bilateral trade relationship totaling $698.7 billion in 2015. A free trade agreement, such as TTIP, desires to strengthen that relationship by eliminating tariffs, aligning compatible regulations to open trade, and furthering trade in the service sector.
On May 27, 2015, the California Chamber of Commerce held an International Forum on the Transatlantic Trade and Investment Partnership and the Transpacific Partnership with speakers including members of the United States Chamber of Commerce, representatives from five American Chambers of Commerce from abroad, and two ambassadors. Also in attendance was a delegation totaling 25 members of the AmCham community representing Bulgaria, Croatia, Denmark, Estonia, France, Greece, Ireland, Israel, Kosovo, Latvia, Lithuania, Macedonia, Norway, Poland, Romania, Serbia, Slovak Republic, Slovenia, and Turkey.