Bosnia and Herzegovina’s Exports Increase

In 2022, Bosnia and Herzegovina exported goods worth 18.4 billion BAM, indicating an increase of 3.8 billion BAM or 26 percent compared to 2021. The Foreign Trade Chamber of Bosnia and Herzegovina analyzed the foreign trade exchange of the country with the world in 2022, including with the most significant trade partners. According to the chamber’s officials, the Covid-19 pandemic and the war in Ukraine had an impact on inflationary trends, affecting the economy worldwide, including Bosnia and Herzegovina.

Despite the turbulent times, Bosnia and Herzegovina’s economy is competitive and capable of producing and exporting goods to demanding European markets, said the Foreign Trade Chamber of Bosnia and Herzegovina President Zdravko Marinković and Vice-Presidents Ahmet Egrlić and Vjekoslav Vuković during a media presentation.

The total value of imported goods in 2022 was 29.1 billion BAM, an increase of 7.2 billion BAM or 33 percent compared to the previous year, resulting in a foreign trade deficit of 10.7 billion BAM, and import coverage by exports was 63 percent.

Bosnia and Herzegovina achieved most of its merchandise exchange with the countries of the European Union, accounting for 68 percent of the total volume of exchange between the country and the world. In 2022, the volume of exchange with the EU was about 32.3 billion BAM, an increase of 7.3 billion BAM compared to 2021. The EU participated in total exports with 72 percent and in imports with 65 percent.

Croatia led the way in terms of volume of exchange, with a total volume of exchange of 8 billion BAM, an increase of 2.6 billion BAM or 48 percent compared to 2021. The coverage of imports by exports amounted to 48 percent, with a deficit of 2.8 billion BAM.