The Council of Ministers of BiH adopted the analysis of the Ministry of Foreign Trade and Economic Relations on the foreign trade of BiH for the first half of 2016, which shows further growth in exports and a fall in the trade deficit compared to the same period last year.
In the first six months of this year, the total trade exchange of BiH amounted to 12.22 billion BAM, which is 184.9 million BAM more than in the same period last year. Imported goods are worth 7.71 billion BAM, which is 0.75 % more in comparison to the same period last year, while total exports amounted to 4.51 billion BAM and they were increased by 127.27 million BAM, or 2.9 %. The trade deficit in this period amounted to 3.20 billion BAM, and it represents a decrease of 69.6 million compared to the previous year. Export-import ratio was 58.5 %.
The European Union remains the main trading partner of BiH and the total foreign trade accounted for 66.28 %, followed by signatory countries “CEFTA 2006” with 13.04 %, while other countries participated with 20.67 %.
In the first half of this year, in comparison to the same period in 2015, was recorded an increase in exports to the EU of 5.64 %, as well as the growth of imports from the EU of 2.44 %, which resulted in a decline in the trade deficit with the EU of 4.4 %, considering that the growth of exports was higher than growth of import.
Exports of industrial products was increased by 2.1 % in the first six months of this year compared to the same period last year as well as imports by 0.4 %, which led to a drop in the deficit to about 3 %. At the same time, growth in exports of agricultural products was recorded in this period by 12.83 %.
When it comes to major trading partners, we have the largest export-import ratio with: Austria, Slovenia, Germany, Croatia, Italy, Turkey and Serbia.
In the first half of 2016, BiH mostly exported to Germany, Italy, Croatia, Slovenia, Austria, Serbia, Turkey, Montenegro, Hungary and the Netherlands. Exports to these countries make 74.7 % of total exports. We mostly imported from Germany, Italy, Serbia, Croatia, China, Slovenia, Turkey, Russia, Austria and Poland. Imports from these countries in the period January – June 2016, accounted for 72.1 % of total BH imports.
(Source: nap.ba)
