BUSINESS

Bosnia records Increase in Export in the First Two Months of this Year

In the period January – February 2021, export amounted to 1 billion 909 million BAM, which is 7,3% higher than in the same period of 2020, and import amounted to 2 billion 627 million BAM, which is 6,3% lower than in the same period of last year. The coverage of import by export was 72,7% and the international trade in goods deficit amounted to 718 million BAM, according to the BH Agency for Statistics. 

Export to CEFTA countries amounted to 287 million BAM, which is 8,7% higher than in the same period of 2020, while import amounted to 313 million BAM, which is 3,6% lower than in January last year. The coverage of import by export was 91,9%. 

Export to EU countries amounted to 1 billion 415 million BAM, which is 7,9% higher than in the same period of 2020, while import amounted to 1 billion 606 million BAM, which is 5,9% lower than in the same period last year. The coverage of import by export was 88,1%.

Exports of meat and meat products from Bosnia and Herzegovina in the three quarters of last year amounted to 77,236,382 BAM and is higher by 93.15% compared to the same period in 2019, while imports amounted to 238,760,750 BAM and decreased by 13.8% in compared to the first nine months of 2019. 

The coverage of imports by exports amounted to 32.3%, according to the analysis of the Foreign Trade Chamber of BiH. 

Significant growth of exports in the first nine months of last year, compared to the same period in 2019, was recorded in beef and amounted to about 15 million BAM, while in poultry meat exports increased by 7.48%, sausages and similar products by 27 , 04%, and other canned products by 74.58%, according to Nezavisne.

In the three quarters of 2020, compared to the same period last year, exports of fish and fish products amounted to 31,334,803 KM and increased by 7.8%, while imports amounted to 58,636,167 BAM and decreased by 10.3%. The coverage of imports by exports last year was 53.4%, and in 2019 44.5%. 

The analysis states that the mentioned growth of canned fish exports has significantly increased, by more than 3.5 million BAM compared to the previous year.

The Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina, Stasa Kosarac, stated that adequate measures and policies to protect domestic production in the past period have resulted in a reduction in imports of meat by more than 30 percent and grapes by approximately 40 percent in BiH, Vijesti.ba news portal reports.

“In the past period, the Ministry of Foreign Trade and Economic Relations of BiH has been dedicated to preserving and protecting domestic production, in cooperation with ministries and inspectorates from the Republika Srpska and the Federation of BiH, and agencies for market surveillance and food safety at the BiH level.”

Thanks to the engagement and mobility of the competent institutions, in the past month we have recorded a decrease in the import of meat by about 500 tons, and grapes by approximately 1000 tons compared to the same period last year, said Minister Kosarac.

He expressed his commitment to continue activities that will contribute to the protection of domestic primary agricultural producers and processors, while respecting the international agreements that BiH has signed.

“We continuously monitor the market situation and analyze the ratio of imports and exports, trying to create and implement measures based on exact indicators in the interest of domestic primary producers and meat processors, as well as wine producers.”

Our intention is to additionally take care of the quality of imported goods with the strengthened control measures “, said Minister Kosarac.

He emphasized that the Ministry of Foreign Trade and Economic Relations of BiH is working intensively on opening new markets for domestic products, estimating that this is one of the best measures to protect domestic production, especially considering the appearance of market surpluses caused by the coronavirus pandemic.

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