By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sarajevo TimesSarajevo TimesSarajevo Times
  • HOME
  • POLITICS
    • BH & EU
  • BUSINESS
  • BH TOURISM
  • INTERVIEWS
    • BH & EU
    • BUSINESS
    • ARTS
  • SPORT
  • ARTS
    • CULTURE
    • ENTERTAINMENT
  • W&N
Search
  • ABOUT US
  • IMPRESSUM
  • NEWSLETTER
  • CONTACT
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Reading: BiH could reduce its Product Placement Abroad by more than 2 Billion BAM
Share
Font ResizerAa
Sarajevo TimesSarajevo Times
Font ResizerAa
  • HOME
  • POLITICS
  • BUSINESS
  • BH TOURISM
  • INTERVIEWS
  • SPORT
  • ARTS
  • W&N
Search
  • HOME
  • POLITICS
    • BH & EU
  • BUSINESS
  • BH TOURISM
  • INTERVIEWS
    • BH & EU
    • BUSINESS
    • ARTS
  • SPORT
  • ARTS
    • CULTURE
    • ENTERTAINMENT
  • W&N
Follow US
  • ABOUT US
  • IMPRESSUM
  • NEWSLETTER
  • CONTACT
© 2012 Sarajevo Times. All rights reserved.
Sarajevo Times > Blog > BUSINESS > BiH could reduce its Product Placement Abroad by more than 2 Billion BAM
BUSINESS

BiH could reduce its Product Placement Abroad by more than 2 Billion BAM

Published: May 14, 2024
Share
SHARE

That Bosnia and Herzegovina (BiH) imports large quantities of food, despite having agricultural resources to produce them itself, has long been known. Just a reminder, BiH has about 2.57 million hectares of agricultural land, of which around 700 thousand hectares are arable in the Federation of BiH (FBiH), and around one million hectares in Republika Srpska (RS).

At the green markets, the most sought-after and therefore the best-selling products are potatoes, cabbage, tomatoes, onions, and peppers. However, the question arises: how many of the offered products are truly domestic, and how many are imported from other countries? It is worth noting that red onions are from Germany, potatoes and garlic are from Egypt, and Polish apples have flooded the markets in Banja Luka. While it is still possible to find domestic products at the markets, there are also many vendors selling imported goods. If we walk through the markets in FBiH, we will see the same picture.

Domestic market needs

Darko Ilic, president of the Association of Vegetable Growers of RS, says that domestic baby potatoes grown under agro-textiles can be expected in about fifteen days.

“As for peppers and tomatoes, we have to wait for the calendar for those to arrive. We have them planted, in greenhouses and outdoors. So, domestic produce will also be on the market shelves. We hope for a successful year, and if the weather continues to be favorable, we will meet the needs of the domestic market during the season,” Ilic added.

Ilic claims that domestic agricultural production can always meet the needs of the domestic market during the season because, as he says, when domestic vegetables arrive, there is a decrease in imports.

However, RS Minister of Agriculture Savo Minic reveals that there are significant problems in the market with food, in this case, vegetables and fruits, which threaten domestic production.

“We have been fighting against the import lobby all this time. Several letters have been sent from this Ministry requesting that the import of certain agricultural products be temporarily banned during the harvest season. Similarly, someone sitting up there in Sarajevo should be asked why a request from an importer of garlic in BiH is approved on the same day it is submitted if the administrative process takes a month. And it takes us a month to harvest a certain agricultural crop,” Minic said.

Total trade volume amounted to 10.9 billion BAM

Scenes from supermarkets and green markets can be a small sample and explanation of the complete economic picture of BiH, its imports, and exports. The latest data show that in the first quarter of 2024, exports from BiH decreased by as much as 560 million BAM. The data shows that if this trend of export decline continues until the end of the year, BiH could reduce the placement of its products abroad by more than two billion BAM.

The Foreign Trade Chamber of BiH states that the total volume of merchandise trade amounted to 10.9 billion BAM, which is 2.75 percent or 308.7 million BAM less compared to the first quarter of 2023. Of this, the total value of exports was 3.95 billion BAM, which is 560 million BAM less than in the same period of the previous year. Imports into BiH amounted to 6.94 billion BAM, which is 252 million more than in the same period of the previous year. When observed by markets, there was a decrease in exports in all leading markets, but there was a trend of slowing exports, which was particularly pronounced in April 2024.

After several years of growth, the largest decrease in exports was recorded in the markets of Croatia at 12.8 percent, Austria at 14.3 percent, Italy at 18.5 percent, and Germany at 9.4 percent. Among the CEFTA countries, the largest decrease in exports was recorded in the Serbian market by 26.4 percent. There is encouraging growth in exports to so-called other markets, where there was an increase in exports to the Turkish market by 37.9 percent. The movement of imports had the opposite trend to exports, leading to an increase in the foreign trade deficit, which amounts to about 3 billion BAM. The most significant import markets are Croatia, Germany, Slovenia, Italy, and Serbia, Forbes writes.

E.Dz.

FBiH – Increase in Industry Production in September Comparison to August
The Construction of Block 7 has officially started
Klas Flour on the Market of Saudi Arabia for the first Time?
Klas selected for the ELITE Program of the London Stock Exchange Group
New Textile Plants of Company “Nikola Tesla” in the Fall
Share This Article
Facebook Whatsapp Whatsapp Telegram Threads Bluesky Email Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article In his Conversation with Zelenska, Vucic emphasized Serbia’s Readiness to provide Assistance to the Population of Ukraine
Next Article Wizz Air is increasing the Number of Flights from Sarajevo
Leave a Comment Leave a Comment

Leave a Reply Cancel reply

You must be logged in to post a comment.

Stay Connected

10.2KFollowersLike
10.1KFollowersFollow
414FollowersFollow

Latest News

Prime Minister of Croatia to arrive on an Official Visit to BiH
August 31, 2026
Flag of Bosnia and Herzegovina Raised Once Again on Jahorina Mountain
August 31, 2026
Leading NATO Generals, US Congressmen, and More than 140 Security Experts to Arrive in Sarajevo
August 31, 2026
ITA BiH: Still without Changes to the Rulebook on Workplaces at Border Crossings
August 31, 2026
Federal Police Administration takes Activities over Multi-million Dollar Subsidies
August 31, 2026
Prosecutor’s Office opens Case against an Official over Mladic Statements
August 31, 2026
Court of BiH extends Detention to Polish Citizen over Religious Property Destruction
August 31, 2026
NGO: Lake Perucac was never thoroughly examined, Search for Victims continues
August 31, 2026
Council of Ministers postpones the Session scheduled for Today
August 31, 2026
Rivers in BiH at critically low Water Levels
August 31, 2026
Sarajevo TimesSarajevo Times
Follow US
© 2012 Sarajevo Times. All Rights Reserved.
  • ABOUT US
  • IMPRESSUM
  • NEWSLETTER
  • CONTACT
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?