Economic Relations Between Saudi Arabia and Croatia and the objectives
During the period from 2018 to 2020, trade between the Kingdom of Saudi Arabia and Croatia declined sharply from $174 million to $47 million before showing an upward trend from 2020 to 2022, reaching $149 million by the end of the period. During this time frame, the following trends were observed:
Both Saudi exports to Croatia and imports from Croatia fluctuated significantly, though they stabilized and converged in 2022. Exports reached $70 million and imports $79 million, narrowing the trade deficit to just $9 million in that year.
Saudi Arabia's trade balance with Croatia has consistently favored Croatia from 2018 to 2022, except for 2019 when a surplus of $33 million was achieved due to increased Saudi exports to Croatia amounting to approximately $87 million that year. This suggests opportunities for Saudi exports to Croatia in the future.
In 2022, Croatia ranked 72nd among Saudi Arabia's trading partners in terms of exports, 101st for non-oil exports, and 80th for imports.
The main exports from Saudi Arabia to Croatia include:
- Plastics and their products.
The main imports from Croatia to Saudi Arabia include:
- Boilers, machinery, mechanical appliances, and their parts.
- Weapons, ammunition, and their parts and accessories.
- Organic chemicals.
- Preparations of cereals, flour, starch, or milk; pastrycooks' products.
