Bosnia’s H1 foreign trade gap narrows 12.4% y/y to EUR 1.6bn.

By bne IntelliNews July 15, 2013

 

Bosnia’s foreign trade gap shrank 12.4% y/y to BAM 3bn (EUR 1.6bn) in January-June 2013 on the back of rising energy and manufacturing exports and falling imports, the statistics office said. The H1 trade deficit accounted for 11% of the full-year GDP, improving from 13% of GDP a year earlier. The export-import coverage ratio strengthened to 58% in H1 from 53% a year earlier.

Exports increased 8.7% y/y to BAM 4.2bn in January-June whereas imports fell 1.3% y/y to BAM 7.2bn.

The imports retreat was mainly driven by falling utilities and capital goods purchases. On the other hand, imports of non-durable consumer goods increased 6.2% y/y to BAM 1.9bn in January-June (24% share in total imports) despite declining disposable income of households. The reading could imply a mild recovery of consumption which is likely supported by rising private remittances and higher foreign tourist numbers during the summer season.

Higher manufacturing and utilities sales were the main drivers of Bosnia’s H1 export growth. Key manufacturing exports rose 4.7% y/y to BAM 3.6bn (86% share in total) lifted by increasing sales of furniture, food, leather, wood, machinery and equipment and motor vehicles, trailers and semi-trailers.

January-June sales of electricity, gas, steam and air conditioning supply jumped 195% y/y to BAM 292mn, partly reflecting a low-prior year base.

The main exports destinations for domestic Bosnian producers in H1 were Croatia (15.5% share in total), Germany (15.5%), Italy (11.6%) and Slovenia (8.1%). The major imports partners were Croatia (13.2% share in total imports), Germany (11.3%), Italy (9.9%) and Russia (9.8%).

Bosnia's foreign trade Jan-Jun'12 %,y/y Jan-Jun'13 %,y/y
Exports,BAM mn 3,867.8 -5.1 4,202.8 8.7
Imports,BAM mn 7,333.3 -0.7 7,239.1 -1.3
Trade balance,BAM  mn -3,465.5 4.8 -3,036.3 -12.4
Source: Institute of statistics        

Related Articles

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

bne IntelliNews Southeast Europe Outlook 2024

This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more

EBRD, EU, Raiffeisen Bank secure €7mn credit line for green Bosnian SMEs

The European Bank for Reconstruction and Development (EBRD) said on December 13 it has secured a €7mn credit line to Raiffeisen Bank to be combined with a EU grant and used for financing green ... more

Dismiss