BUSINESS

Bosnia records High Decrease in Export of Metals

The export of the metal and electrical industry of Bosnia and Herzegovina in the first three quarters of last year amounted to 2,866,735,016 BAM and is lower by 544,310,748 or 15.95% compared to the same period in 2019, due to the coronavirus pandemic, according to the analysis of the Foreign Trade Chamber BiH.

The pandemic also affected the import of this sector, so in the mentioned period it amounted to 4,159,009,053 BAM and is lower by 16.09 percent compared to the first nine months of 2019. The Chamber states that the biggest drop in exports was recorded in raw aluminum and in the first three quarters it decreased by more than 200 million BAM, and a large decrease of 125 million BAM was recorded in the export of iron and steel. –

It is obvious that the pandemic has only further aggravated many restrictions on trade flows in the form of quotas on exports of certain iron and steel products to the EU, USA and indirectly to other markets through divergence of flows created by surplus, ie. stocks of these products on a global level – the analysis points out.

Of the total exports of the metal and electrical industry of BiH, 18% refers to Austria, Germany 16%, Slovenia 13%, Serbia and Croatia 9% each, Italy 6%, Montenegro and Romania 3% each, Turkey, Hungary and the Netherlands 2% each. %, and 1% each to Luxembourg, the Czech Republic, Egypt, Switzerland, France, Poland, Saudi Arabia, Northern Macedonia and the USA.

12% of the total imports of metal and electrical industry in BiH were imported from Germany, 11% from Serbia and Slovenia, 10% from Croatia, 9% from Italy and Austria, 5% from the Netherlands and Turkey, 4% from China, 3% from Hungary, Slovakia , Switzerland, the Czech Republic and Poland 2% each, and 1% each from Belgium, France, Romania, Bulgaria and Northern Macedonia.

The Foreign Trade Chamber states that the structure of export markets remained similar to last year, with a decline in almost all markets, and evenly distributed, starting with high percentages of decline in March / April last year, and gradually decreasing until the end of September, eKapija writes.

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