Foreign Trade Chamber: Exports fell by three percent

SARAJEVO, (Patria) - The total volume of trade in BiH in 2019 was 31.746.327 billion convertible marks, of which exports accounted for 11.869.563 and imports for 19.876.764, according to indicators presented today by the Foreign Trade Chamber.

A decrease in exports of about three percent on an annual level, and an increase in imports of 1.5 percent resulted in a decrease in import coverage by exports by 4.5 percent, and thus an increase in the deficit by nine percent, which amounted to eight billion KM at the end of the year.

Imports into BiH increased slightly, by about 280 million KM, and the cause of the increase in imports is the result of economic activity in the country, i.e., increased domestic consumption and fluctuations in the prices of oil and oil derivatives in the past period.

A higher base and growth rate of goods imports compared to exports resulted in a more significant increase in the trade deficit compared to the previous year.

Thus, the trade deficit in the period of 2019 amounted to over eight billion KM, which represents a nominal increase of 672 million KM or 9.16 percent.