Bosnias Jan-Oct trade deficit widens 5.2% y/y to EUR 3.2bn.

By bne IntelliNews November 16, 2012
Bosnias foreign trade deficit widened 5.2% on annual basis to BAM 6.3bn (EUR 3.2bn) in Jan-Oct 2012, reaching 24.5% of the projected full-year GDP, the statistics office said in a statement. The countrys exports in Jan-Oct shrank 3.7% y/y to BAM 6.6bn, while imports edged up 0.5% to BAM 12.9bn. In October alone, the trade gap increased 14% y/y to BAM 790mn after it shrank 7.9% y/y to BAM 633mn in September. EU countries accounted for BAM 3.9bn of Bosnia's ten-month exports (59.1% share in total exports), up 0.2% y/y. Imports from the EU increased by 2.7% on the year to BAM 6.bn (46.5% of total imports). Exports to CEFTA countries fell by 12.9% y/y to BAM 2.1bn (31.8% share of total) in Jan-Oct, while imports from CEFTA went down 0.8% y/y in Jan-Oct to BAM 3.2bn (24.8% share in total imports). In Jan-Oct, exports of manufacturing products which represent the major part of Bosnias exports (89% share in total) edged down 0.4% y/y to BAM 5.9bn driven by a fall in coke and refined petroleum products (down 31.9% y/y to BAM 443.4), machinery and equipment (down 5.8% y/y to BAM 399mn) and paper and paper products (down 4.4% y/y to BAM 174mn). Exports of electricity, gas, steam and air conditioning supply (2% share in total exports) recorded the steepest annual decline of 59.2% y/y to BAM 132.8mn over the period, while mining and quarrying products (metal ore, coal and lignite in particular) recorded the strongest annual increase by 12.8% y/y to BAM 131.4bn (2% share in total). Exports were the main driver of Bosnias economic recovery over the 2010-2011 period. However, the weak demand in the EU and regional markets evident since the start of 2012 has had a negative impact on Bosnias exports and industrial production. The IMF is thus expecting Bosnias GDP growth to slow down to zero in 2012 from 1.3% a year earlier.
Bosnias foreign trade Jan-Oct'11 %,y/y Jan-Oct'12 %,y/y
Exports,BAM mn 6,867.2 17.9 6,616.3 -3.7
Imports,BAM mn 12,831.3 15.2 12,889.8 0.5
Trade balance,BAM mn -5,964.1 12.3 -6,273.6 5.2
Source: Institute of statistics

Bosnias Jan-Oct trade deficit widens 5.2% y/y to EUR 3.2bn.

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