In the first 6 months of 2016, BiH achieved increase of exports and reduced the deficit. As announced from the Foreign Trade Chamber of BiH, the increase was recorded in the wood industry, agro-industrial and electric power sector, as well as textile, chemical and printing industry.
BiH decreased foreign trade deficit by 0.54 % compared to the same period last year. We exported goods worth 4.69 billion BAM, which represents an increase of about 14.19 %, while we imported 7.68 billion BAM worth goods, which is an increase of 3.63 %.
EU is the most important trading partner and we imported goods worth 3.46 billion BAM (an increase by 7.64 %) in its countries, but exports increased by 7.4 % as well.
CEFTA is the second most important partner, and we exported 669 million BAM and imported 1.8 billion BAM from CEFTA, which represents an increase. We exported the most to Croatia – 491.5 million BAM, and we mostly exported electricity, aluminum, wood products and textiles. We imported 1.6 billion BAM of goods from Croatia, mostly crude oil, sugar, chocolate, beer and electricity. We exported goods worth 366.51 million BAM in Serbia, mostly electricity, wires, rods of iron and wood, and we imported corn, sunflower oil, beer, petroleum oils and various types of pastries.
We share almost all goods with Switzerland, but imports are reduced by about 43 %, which is positive, while exports are increased by 2 %. We mostly exported sunflower oil in Turkey, and imported railway locomotives.
All sectors recorded an increase in exports and the decrease was recorded in the dairy and meat industry and ores.
The textile industry has recorded growth of export by 390 %.
“Positive trend is continued, but we need to double the exports in order to be competitive. We need to provide a positive environment, incentives, reduce interest rates, relieve entrepreneurs from high taxes, etc.,” as stated in the semi-annual report.
By the end of the year is expected the increase in the export of electrical energy and ores, as well as an increase in private investments.
(Source: M. N./Klix.ba)
