Due to its geographic position and its recent membership to the European Union, Croatia has become an attractive country for investors. Since the country imports twice as much in value as it exports, starting a company in the trade sector can be a profitable decision. Imports and exports in Croatia are regulated by specific provisions within the commercial legislation. Our experts in company formation in Croatia can give you extensive information about the trading requirements that a company must abide.
According to the Economic Complexity Index, Croatia is the 76th largest export economy in the world and the 37th most complex economy. In terms of imports, Croatia is a major importer of arms and ammunition.
Croatian companies largely import aircraft and spacecraft technology, raw hides, pharmaceuticals, coated textile fabric, clothing, vehicles and toys. The most relevant import partners of Croatia are its neighboring countries: Austria, Slovenia and Hungary. Other import destinations include: China, the Netherlands and France.
When it comes to exports, Croatia relies heavily on its mineral fuels and machinery. Almost 10% of Croatia`s exports is represented by oil products and machines, including computers. The statistics of the International Monetary Fund for 2016 credit the pharmaceutical companies in Croatia for 6.7% of the total exports. The Croatian goods and products are usually exported to Slovenia, Germany, Bosnia and Herzegovina and Italy. The overall exports in Croatia include the following sectors:
- electrical machinery (8.9%),
- wood (5.7%),
- vehicles (3.7%),
- iron or steel articles (3.1%),
- plastics and plastic articles (2.8%).
Our specialists in company registration in Croatia can assist you in establishing a company in the trading sector of the country.
The local government has harmonized the technical trade standards with the European legislation. According to the Croatian Standard Institute (HZN), the Croatian companies acting as importers are held directly responsible for product safety and their conformity with the technical trading regulations. Nevertheless, the ultimate responsibility for product compliance lies with the manufacturer. The basic trade standards in Croatia comprise of: testing, inspection and certification of goods and merchandise imported and exported.
The Croatian Accreditation Agency is the local institution that confirms to companies and individuals and to Croatian private sector laboratories that they meet certain standards required to participate in the conformity assessment process.
Don`t hesitate to contact our Croatian company formation agents if you need more details about the trade standards your company must comply with.