Bosnia’s trade gap widens 5.4% y/y to EUR 485mn in Jan-Feb 2014

By bne IntelliNews March 25, 2014

Bosnia’s trade gap widened 5.4% y/y to BAM 949.3mn (EUR 485.4mn) in January-February 2014, as imports increased slightly faster than exports over the period, the statistics office said in a statement. The export-import coverage ratio remained broadly unchanged on the year at 58.2% in January-February.

Exports grew 5.1% y/y to BAM 1.32bn in the first two months of the year, as key manufacturing sales abroad increased 7.6% y/y to BAM 1.17bn (89% share in total). The reading was underpinned by higher sales of leather, coke and refined petroleum products, chemicals, pharmaceuticals, fabricated metal products, wood and wearing apparel. On the other hand, falling basic metals output continued to dent the overall export growth. January-February sales of electricity, gas, steam and air conditioning supply abroad declined 21.1% y/y to BAM 61.0mn, reflecting high prior year base.

Imports rose 5.2% y/y to BAM 2,269.9mn in January-February thanks to stronger domestic demand for textiles, leather, chemicals, rubber and plastic products, machinery and equipment and electricity.

Exports to the European Union, which remains Bosnia’s main trade partner, went up 3.1% y/y to BAM 984.58mn (75% share in total exports), while imports from the union (59% share in total) increased at a faster pace by 5.6% to BAM 1.34bn over the period.

Bosnia’s foreign trade deficit contracted 8.2% y/y to BAM 6.8bn in 2013 after increasing 1.3% the year before thanks to higher manufacturing and utilities exports.

Net exports have been the main driver of Bosnia’s economic recovery last year. The country's GDP expanded by a mild 0.8% in 2013 following a 1.1% contraction in 2012. The IMF expects the economy to grow by 2.0% in 2014 but to stay below its pre-crisis level of around 6% in 2006-2008 in the mid-term.

Bosnia's Foreign trade Jan-Feb'13 %,y/y Jan-Feb'14 %,y/y
Exports,BAM mn 1,256.8 16.1 1,320.6 5.1
Imports,BAM mn 2,157.5 11.3 2,269.9 5.2
Trade balance,BAM  mn -900.7 5.2 -949.3 5.4
Source: Institute of statistics        

Related Articles

Republika Srpska president reportedly to face charges over banned referendum

A well known Bosnian political blogger has claimed that Republika Srpska’s President Milorad Dodik and the entity’s Prime Minister Zeljka Cvijanovic will face charges over the 2016 referendum ... more

Former Bosnian minister wanted in organised crime case now on the run

A Sarajevo court has called for an international arrest warrant to be issued for former Interior Minister Alija Delimustafic, who is understood to be in hiding after being ordered to return to police ... more

Bosnia to expel more than 300 foreign property owners for tax evasion

Bosnia & Herzegovina will expel more than 300 foreigners, mainly from the Gulf, on suspicion of evading taxes on their investment properties, Reuters reported on December 14, quoting the ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss