In the first quarter of this year, Bosnia and Herzegovina exported products for a total of 4,264,614,261 KM, while it imported goods for 7,606,329,764 KM.
In the data of the Administration for Indirect Taxation of BiH (ITA BiH), which was submitted to “Nezavisne novine”, it can be seen that in the first quarter of this year, both imports and exports increased compared to the same period of the previous year.
Imports increased by about 74 million KM
Thus, imports are higher by about 74 million KM, while exports are higher by 103 million KM.
The data shows that the foreign trade deficit for three months of this year amounted to about 3.34 billion KM.
Where we exported the most
Croatia is the country to which we exported the most of our products, but also imported the most from it, and is by far the largest foreign trade partner of Bosnia and Herzegovina.
In three months, we exported goods to Croatia for 707 million KM, while we imported 1.42 billion KM of products from this country.
Germany and Serbia
When it comes to exports, after Croatia, BiH sold its products the most to Germany, for 615 million KM, and to Serbia for 444 million KM.
Serbia, after Croatia, marketed the most of its products here, for 996 million KM.
They are followed by imports from Germany for 631 million KM.
What did we import the most?
When it comes to the most imported products, nuclear reactors, boilers, machines and apparatus and mechanical devices and their parts lead the way for 649 million KM.
Next comes the import of vehicles, except railway or tram vehicles, their parts and accessories for 590 million KM, and electrical machines and equipment and their parts for 456 million KM.
In the first quarter, Bosnia and Herzegovina exported the most electrical machines and equipment and their parts for 395 million KM.
After that, we mostly sold nuclear reactors, boilers, machines and mechanical devices and their parts for 345 million KM, and furniture, mattress supports, equipment for beds and similar products (mattresses, pillows and similar stuffed products) for 290 million KM.
Steel industry
Economist Igor Gavran says that, although exports have increased nominally, the decline in exports both in quantity and value in some strategic sectors such as the steel industry is worrying.
“On the other hand, imports that compete with this same industry are not decreasing, on the contrary. We no longer even export coke, electricity exports are far smaller than before, and imports are, unfortunately, more and more present. Of course, price changes also had an impact, but these differences are too small to mean any substantial change. Especially since we know for sure that the value of imports will be higher in the coming months, for which data will be published, primarily due to the increased prices of imported oil derivatives,” he pointed out. Raven for “Nezavisne novine”.
Necessary protective measures
According to him, if protective measures for the steel industry are not adopted urgently, soon we will not have one at all, so imports will increase drastically, and exports will disappear.
“And, of course, import prices will rise when there is no more domestic competition. We also had a drop in exports of dedicated industry, probably due to difficulties in ship transport, so, although the aggregate figures do not indicate this, there may be more negative than positive in these data. At the very least, a lot of reasons for concern, and little for satisfaction,” concluded Gavran.
