Although imports fell and exports rose, BiH's trade deficit in 2015 was 6.86 billion BAM

In 2015, there was an increase in exports, a decrease in imports, and a reduction in the trade deficit compared to 2014, according to the Analysis of Foreign Trade of Bosnia and Herzegovina, which was presented today at a session of the Council of Ministers, reports the BH news agency Patria.

According to the analysis of the Ministry of Foreign Trade and Economic Relations, in 2015, goods worth 15.85 billion BAM were imported, which is 2.75 percent less compared to 2014, while total exports amounted to 8.99 billion BAM, an increase of 3.52 percent. Thus, import coverage by exports was 56.70 percent, which is 3.10 percent higher than the previous year.

The rise in exports and the decline in imports led to a reduction in the trade deficit, which in 2015 amounted to 6.86 billion BAM, 8.69 percent less than the previous year.

The European Union remains our main foreign trade partner, accounting for 64.81 percent of total goods exchange, followed by the signatory countries of the „CEFTA 2006“ agreement with 13.25 percent, while other countries account for 21.94 percent.

Last year, Bosnia and Herzegovina exported the most to Germany, Italy, Croatia, Serbia, Slovenia, Austria, Turkey, Montenegro, Hungary, and the Netherlands. At the same time, the most imports came from Germany, Italy, Serbia, Croatia, China, Russia, Slovenia, Turkey, Austria, and Poland.