News in English     | 12.11.2019. 13:20 |

FTC BiH - Deficit in foreign trade exchange increased by almost nine percent

FENA Darinka Mitrović

SARAJEVO, November 12 (FENA) - Exports of Bosnia and Herzegovina amounted to 8.95 billion KM in the first nine months of this year, and were down by 1.7 percent compared to the same period last year, while imports reached 14.93 billion KM and was increased by 2.29 percent, it was pointed out today at a press conference at the BiH Foreign Trade Chamber in Sarajevo.

Deputy Secretary-General of the FTC BiH Nihad Bajramović said that the cause of the increase in imports was the result of economic activity in the country, that is, increased domestic consumption.

He stated that the foreign trade deficit increased by 8.9 percent and amounted to 5.97 billion KM.

Belma Hasić from the FTC BiH Macroeconomic Sector stated that exports to Turkey were reduced by about 44 million KM, among other reasons, due to the non-implementation of the free trade agreement, and because of the customs taxes applied by Kosovo; total exports to that market were reduced by more than 90 percent, about 105 million KM.

The EU is our main foreign trade partner, and we export about 73 percent of our total exports there, while by volume of trade our most important partner is Croatia.

Hasić said that BiH has a surplus with all CEFTA countries except Serbia, where export coverage of almost 50 percent was reached for the first time.

Amila Šehić from the Macroeconomic Sector of FTC BiH said that in the first nine months of this year, the products of the agro-industrial sector were exported in the total value of 615.6 million KM, which is less by about five percent compared to the same period last year.

Products that make up about 50 percent of total exports are sunflower oil, fruits and fruit products, milk and dairy products, bread (pastries and cakes), flour and other milling products, and the top export markets are Germany, Croatia, Italy, Serbia, Slovenia, Austria and Montenegro.

(FENA) S. R.

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