Companies from Bosnia-Herzegovina exported Record Number of Weapons

January 25, 2020 10:30 AM

 

Companies from Bosnia-Herzegovina exported weapons and ammunition worth 213 million BAM last year, BiznisInfo news portal reports. This is about 8 million more than 2018, marking the long-standing export growth trend in this industry.

Last year, most of these products were exported to Saudi Arabia, amounting to 72 million BAM, about three million less than a year earlier. Egypt is the second largest export market with more than 57 million BAM.

A year earlier, exports to Egypt amounted to 24 million BAM, which means that it is precisely this market that made the most progress in 2019.

A major drop was seen in exports to Turkey. Last year, the value of exports was about 9 million BAM, 20 million BAM less than in 2018. The destination industry has recently agreed a new big deal with one major United States firm, so further export growth can be expected in the coming period.

Last year, the leader in production, the Igman company from Konjic, was the 9th largest exporter from Bosnia-Herzegovina.

In 2018, Bosnia’s exports of weapons and ammunitions amounted to 205 million BAM (116.7 million U.S. dollars), and the largest buyer was Saudi Arabia, to the tune of almost 75 million BAM (42.7 million U.S. dollars).

In 2017, exports amounted to 193.8 million BAM (110.3 million U.S. dollars), about 22 million BAM (12.5 million U.S. dollars) more than in 2016, when the value of exports was 171 million BAM (97.4 million U.S. dollars).

Saudi Arabia was the main buyer of BiH weapons in 2017 and Egypt in 2016.

 

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