Representatives of the Foreign Trade Chamber of BiH (FTC BiH) presented yesterday in Sarajevo the basic indicators of BiH’s foreign trade with the world in 2021, compared to 2020, with reference to BiH’s exchange with most important trade partners.
The total volume of trade in 2021 amounted to 36.5 billion BAM, which is 8.5 billion BAM (30 percent) more than the year before. The coverage of imports by exports last year was 66.6 percent.
High exports to the EU confirm the quality of goods produced by BiH
The President of FTCBiH Ahmet Egrlic said that he could say that 2021 was a relatively successful business year, marked by the growth of exports, coming out of the recession and that BiH economy followed the trends of its most important market, the European Union (EU) market.
”Our main foreign trade partner is Croatia with which we have the largest volume of exchange. When it comes to the coverage of imports by exports, Germany and Austria are still in the lead, and we are recording a surplus there,” Egrlic explained.
CCEFTA is the second most important partner of BiH
After the EU, BiH participates in the Central European Free Trade Agreement’s (CEFTA) foreign trade with 17.6 percent of exports and 16.5 percent of imports. The volume of trade with CEFTA countries in 2021 amounted to 6.18 billion BAM or 16.9 percent of the total trade of BiH.
Serbia is the most important foreign trade partner from the CEFTA region in terms of trade. BiH exported goods to Serbia worth 1.8 billion BAM, which is 48.2 percent more than last year. Imports from Serbia increased by 28.6 percent and amounted to 3.2 billion BAM.
Turkiye most important partner in “other markets”
Turkiye is the most important partner in terms of exchange in the so-called “Other markets” or “third countries” in economic terms. In 2021, the volume of trade with Turkiye amounted to about 1.5 billion BAM.
Exports and imports increased in all sectors of the economy, which led to an increase in the total volume of trade.
After yesterday’s press conference, a presentation of data was organized by the FTC for the representatives of BiH institutions, accredited ambassadors, and representatives of the diplomatic corps in BiH.
E.Dz.
Source: Federalna
