The European Union reduced its monthly imports of direct reduced iron (DRI) by 35.5% in February 2024 compared to the previous month, reaching 231.64 thousand tons. However, compared to February 2023, the imports increased by 3.2%. In the first two months of 2024, the EU increased its DRI imports from third countries by 35.2% y/y, up to 590.5 thousand tons.

The main importers of DRI among EU countries were Italy, Germany, Belgium, and the Netherlands, with Italy being the largest importer of Russian products, followed by Belgium. Russia remained the largest supplier of DRI to the European Union, with 209.55 kt of direct reduced iron shipped to European consumers in the first two months of 2024, down 20.2% y/y. Libya and Venezuela also exported DRI to the EU, with 40.86 thsd tonnes and 64.38 thsd tonnes, respectively.

The EU's total imports were $9,043,699,000, with 56% originating from the EU. The economy of Croatia is a developed social market economy, highly dependent on international trade in Europe, with a very high level of human development, low levels of wealth inequality, and a high standard of living. Croatia's labor market has been perennially inefficient, with inconsistent business standards as well as ineffective corporate and income tax policy.

The country's monetary policy is formulated and implemented by its national bank, and the central budget is set by the Government of Croatia to cover their upcoming fiscal year, which runs from 1 January to 31st December. For 2024, they reported €28.52 billion in revenue with €32.61 billion in expenditure, running a €4.09 billion budget deficit.