BUSINESS

Never Better Balance in Trade Between BiH and EU

porast_izvozaIn the first three months of this year BiH is marking a record coverage of import of goods from the EU of 72 percent, achieved through growth of exports on the market of all our biggest trade partners.

Export to the EU from the period of January-March was 1,16 billion KM, which is 5,7 percent more than in the same period last year, while the imports amounted to 1,61 billion KM or 1,5 percent more than in the same period in past years, as shown by the statistics from the Agency for Statistics of BiH, says “Nezavisne Novine”.

It is positive that the exports have increased to the most important European markets, starting with Germany, across Italy, to Slovenia and Austria, ranging from 1,4 to 8,6 percent, and that Austrian consumers dispatched the goods to a greater value than it imports for 26,6 percent.

Notably, there was also a significant increase in placements of BIH products in many EU states with which we have more modest trade ties. Exports to Bulgaria increase in the first quarter by 140 percent, Great Britain by 64 percent, Sweden by 58,5 percent, Czech Republic by 31 percent and France by 15 percent.

The coverage of imports by exports with countries in the region of the free trade zone CEFTA is also approaching record levels. In the first three-month period of this year it amounted to 74,4 percent, which is significantly higher than last years 61,8 percent. However, it is lower than at the beginning of 2011 of 78,8 percent. Exports to CEFTA countries in the first quarter increased by 8,7 percent to 546 million KM, while the imports fell by 9,7 percent to 734 million KM.

The results in trade with the EU and CEFTA are far better compared to total trade with foreign countries, where the export import coverage amounts to 56,5 percent. Here is also a noticeable improvement, where the total value of exports increased by 9,7 percent to 1,94 billion KM, while the imports recorded a slight growth of 0,6 percent to around 3,43 billion KM.

The improvement of trade balance of BiH has influenced nearly five-fold of the value of electricity exports, and the credit growth of certain significant manufacturing groups-food sector by 15 percent, products from leather by 14 percent and furniture by 4,4 percent.

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