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2023 Trade Update: BiH Faces €6.58 Billion Deficit, Major Imports from Croatia

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In the past year, Bosnia and Herzegovina experienced a significant trade deficit of approximately €6.58 billion, according to the Indirect Taxation Authority. The country’s imports totaled about €15.27 billion, substantially higher than its exports, which were around €8.70 billion.

Croatia was the largest source of imports into Bosnia and Herzegovina in 2023, with goods valued at approximately €2.99 billion. This was followed by imports from Serbia and Germany, amounting to about €1.99 billion and €1.37 billion, respectively. The nation also imported products from Switzerland and Italy worth around €1.22 billion and €1.12 billion, respectively.

Regarding exports, Germany was the top recipient of goods from Bosnia and Herzegovina, totaling around €1.38 billion. Significant exports were also made to Croatia and Serbia, valued at approximately €1.31 billion and €1.02 billion, respectively. Other notable export destinations included Austria and Slovenia, receiving goods worth around €867 million and €745 million, respectively.

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In 2023, Bosnia and Herzegovina mainly imported mineral fuels, oils, and distillation products, totaling about €2.14 billion. The country also imported substantial amounts of nuclear reactors, boilers, machinery, mechanical appliances, and vehicles, valued at approximately €1.33 billion and €1.17 billion, respectively. The top exports mirrored its largest imports, with mineral fuels and oils leading at about €816 million, followed by electrical machinery, equipment, and sound and television recording apparatus and parts, valued at approximately €714 million.

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