Bosnias 2012 trade gap widens 1.3% to EUR 3.8bn.

By bne IntelliNews January 23, 2013
Bosnias trade gap widened 1.3% y/y to BAM 7.4bn (EUR 3.78bn) in 2012 as exports declined more than two times faster than imports, the statistics office said in a statement. The trade gap to GDP ratio increased slightly to 28.92% at the end of last year from 28.67% a year earlier. Bosnias exports dropped 4.4% to BAM 7.9bn in 2012 after rising by nearly 16% in 2011. Imports shrank by 1.8% to BAM 15.3bn over the period following a 14% increase in 2011. In December alone, the trade deficit fell by an annual 25.5% to BAM 556.6mn. Imports declined for the second consecutive month in December going down by 17.9% y/y to BAM 1.14bn. Exports, which have been decreasing since August 2012, dropped 9.1% to BAM 592mn in December. The European Union was Bosnias main export market accounting for over 62% of total exports. Still exports to EU edged down 0.7% to BAM 4.6bn in 2012, while imports from the union (47% share in total) went up 1.4% to BAM 7.2bn. CEFTA countries accounted for BAM 2.3bn of Bosnias exports (32% share of total) down 13.6% in 2012. Imports from CEFTA edged down 0.1% over the period to BAM 3.8bn (25% share in total imports). Exports of manufacturing products, which represent the major part of Bosnias exports (89.4% share in total), shrank 1.4% to BAM 7bn last year, driven by a fall in coke and refined petroleum products (down 30.4% to BAM 525mn), machinery and equipment (down 6.2% to BAM 478mn) and basic metals (down 1.8% to BAM 1.3bn). Exports of electricity, gas, steam and air conditioning supply (2% share in total exports) recorded the steepest decline of 59.2% y/y to BAM 150mn in 2012, while mining and quarrying products (metal ore, coal and lignite in particular) recorded the strongest increase of 8.4% y/y to BAM 156mn (2% share in total). Exports were the main driver of Bosnias economic recovery over the 2010-2011 period. However, both exports and imports turned negative in 2012 reflecting weak external and domestic demand. According to the IMF, Bosnias economy posted zero growth last year after expanding 1.3% a year earlier. In 2013, the GDP growth is projected to remain weak at 1% while it will stay below its pre-crisis level (of around 6% in 2006-2008) in the mid-term.
Bosnias foreign trade, BAM mn Jan-Dec'11 %,y/y Jan-Dec'12 %,y/y
Exports 8,222.1 15.9 7,858.0 -4.4
Imports 15,525.4 14.0 15,252.9 -1.8
Trade balance -7,303.3 12.0 -7,395.0 1.3
Source: Institute of statistics

Bosnias 2012 trade gap widens 1.3% to EUR 3.8bn.

Related Articles

EUs Sannino invites Bosnian leaders for conciliatory talks on March 22.

The European Commissions director general for enlargement Stefano Sannino has invited the leaders of Bosnias seven main political parties for consultations in Brussels on March 22 in an attempt ... more

Bosnias Serb Republic PPI, CPI inflation eases in Feb 2013.

Growth of consumer prices in Bosnias Serb Republic eased to 0.9% y/y in February from 1.5% y/y in January, as the annual decline of clothing and footwear prices widened, the entitys statistics ... more

Bosnias Federation fails to sell 67% of engineering company Hidrogradnja.

Bosnias Federation has failed to sell its 67% stake in engineering company Hidrogradnja due to lack of investor interest, the entitys privatisation agency said in a statement. The remaining 33% ... 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