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SARAJEVO, February 5 (FENA) - For Bosnia and Herzegovina, 2017 was better than the previous year, and statistics data show growth in industrial production, exports, as well as the export-import ratio, it was emphasized today at the Foreign Trade Chamber of BiH which presented the results of the BiH trade with the world.
Minister of Foreign Trade and Economic Relations of BiH Mirko Šarović said that in the past year we almost reached the figure of 30 billion KM when it comes to the volume of foreign trade, and it is expected for BiH to meet this goal in 2018.
“In 2017, we increased the trade volume by 3.5 billion KM, and for the first time, the export-import ration coverage exceeded 60 percent. If such trends continue, in the next three years, we can expect to reach the number of 70 percent of export-import ratio. Our most important partner is still the European Union, and from the countries of the region, these are Croatia and Serbia, and Turkey. When it comes to the said countries, the total exchange ratio amounts to 84 percent,” said Šarović.
He said that the trade share with the EU is increasing every year, and the export-import coverage with the EU was 71 percent, which is a record figure.
“The chances are that 2018 will be even better because we will enter the EU market with agricultural products as well. Most of our exports to the EU were in the automotive industry, aluminum, footwear and leather products, and furniture,, all of them having recorded steady growth,” emphasized Šarović, pointing out that some 300 million KM of goods were exported to the EU.
Trade exchange with Serbia and Croatia amounts to more than six billion KM, and export-import ratio with Serbia has increased from 45 percent to 53 percent, and with Croatia from 60 to 70 percent. Šarović assessed that the prospects for trade exchange with Serbia and Croatia in the coming period are enormous.
“When it comes to Turkey, it is a growing market for BiH with steady exchange growth. The exchange volume in 2017 was 1.2 billion KM, and by 2020 we expect it to increase to two billion.
BiH has sold agricultural products in the amount of 300 million KM to Turkey, and Turkey imported good to BiH worth 65 million KM,” said Minister Šarović.
Speaking about the priorities for the coming period, Šarović said that it is necessary to increase presence at global forums, to work on removing obstacles and developing awareness of buying domestically produced products.
President of the BiH Foreign Trade Chamber Ahmet Egrlić said that in 2017, BiH realized exports worth 11,384 billion KM, which is 16,54 percent more compared to the previous year, while the value of imported goods in BiH amounted to 18,447 billion KM and it was higher by 13.44 percent.
Export-import ratio in the previous year was 61.71 percent and it has increased by 2.73 percent compared to 2016.
The total volume of foreign trade also increased by 14.61 percent and amounted to 29.832 billion KM. The foreign trade deficit of BiH in 2017 amounted to 7,062 billion KM.
(FENA) S. R.
