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Bosnia and Herzegovina Reports Significant Trade Deficit in 2023 Analysis

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The Council of Ministers of Bosnia and Herzegovina today released a detailed analysis of the country’s foreign trade for the year 2023. The data reveals that the total trade volume reached 44.47 billion KM, with exports valued at 16.70 billion KM and imports at 27.77 billion KM, resulting in a trade deficit of 11.07 billion KM.

Electricity topped the export list, generating 1.06 billion KM, while the highest import expenditure was on petroleum oils, amounting to 2.40 billion KM. Germany, Croatia, and Serbia were the leading destinations for Bosnian exports, whereas the bulk of imports came from Italy, Germany, and Serbia.

The analysis further highlighted that Bosnia and Herzegovina’s trade relationships with Austria, Slovenia, and Croatia showed positive coverage ratios, indicating more exports than imports with these countries. Notably, trade with Austria achieved a coverage rate of 172.02 percent, showing an improvement from the previous year.

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However, trade with the European Union experienced a decline, with exports falling by 7.86 percent to 12.19 billion KM and imports slightly rising by 0.47 percent to 16.37 billion KM.

The Council has mandated that the Ministry of Foreign Trade and Economic Relations submit quarterly trade analysis to closely monitor these trends and adjust economic strategies accordingly.

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