The Euro is already playing a predominant role in the trading of goods for Croatia. The use of the euro in invoicing extra-EU trade in goods for both imports and exports increased from 2016 to 2020. Since 2018, more than half of the Croatian goods imported from and more than two thirds of the Croatian goods exported to countries outside the EU were invoiced in euros.
Croatia above the EU average for extra-EU trade in goods invoiced in EUR
In 2020, Croatia was the Member State with the second-highest share for trade in goods invoiced in euros, with shares significantly above the EU average for both imports and exports.
In 2020, for imports, the euro was the most used currency in Croatia (56.8% compared with 38.2 % in the EU). The US dollar followed (40.9 % compared with 48.1 % in the EU). Other currencies accounted for 2.3 % (compared with 13.8 % in the EU).
For exports, the use of the euro in Croatia was even higher (71.9 % compared with 47.5 % in the EU). The US dollar followed (16.2 % compared with 29.4 % in the EU), while all the other currencies accounted for 11.8 % (compared with 23.2 % in the EU).
This is being published on the occasion of the European Commission’s 2022 Convergence Report saying that Croatia fulfils all the criteria for joining the euro area. The Commission proposed to the Council that Croatia adopt the euro on 1 January 2023.
For more information:
- Statistics Explained article on extra-EU trade by invoicing currency
- Dedicated section on international trade in goods
- Database on international trade in goods
- European Commission’s 2022 Convergence Report
- What’s New article on extra-EU trade by invoicing currency in 2021