News in English     | 05.02.2018. 17:00 |

European Union the most important foreign trade partner of BiH

FENA Darinka Mitrović

SARAJEVO, February 5 (FENA) - The European Union is the most important joint trading partner of Bosnia and Herzegovina, as it places more than 70 percent of its exports to the EU market (8,018,505,000 KM), while at the same time, 67.4 percent of all imports is from the EU. In 2017, the total value of imports from the EU amounted to 12,439,010,000 KM.

According to the data published by the Foreign Trade Chamber of BiH today, Croatia is the most important partner of BiH when it comes to trade exchange with any of the EU countries individually, while in terms of the value of exports, Germany is BiH’s biggest partner.

In 2017, compared to the previous year, the total value of exports to Croatia increased by 30.38 percent, while imports increased by 16.18 percent.

Speaking of CEFTA countries, BiH’s export share is 17 percent and imports 15.5 percent. Exports increased by 27.79 percent compared to the previous year, while imports increased by 12.53 percent.

The biggest foreign trade partner from the CEFTA region is Serbia, speaking in terms of the trade volume with Bosnia and Herzegovina with recorded increase in exports of 31.28 percent and an increase in imports of 11.17 percent in 2017, compared to 2016.

Trade exchange volume with Turkey in 2017 amounted to 1.08 billion KM. Exports amounted to 432.11 million KM and were 7.67 percent higher than in the previous year, while imports from Turkey increased by 9.86 percent and amounted to 656.15 million KM.

Bosnia and Herzegovina recorded an increase in the export of products from agro-industrial sector, thus reaching 1.1 billion KM in 2017, which is 8.3 percent more than in the previous year.

At the same time, imported products from the agro-industrial sector amounted to 3.2 billion KM, which is 6.3 percent more than in 2016.

(FENA) S. R.

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