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SARAJEVO – According to the data of the Foreign Trade Chamber of Bosnia and Herzegovina, the foreign trade of Bosnia and Herzegovina in the field of agriculture and food recorded a deficit of 1.86 billion km in six months.
In the first six months of this year, the export of agricultural products and food products in Bosnia and Herzegovina amounted to 550 million km, an increase of 7.7% over the same period last year, and the import amounted to 2.4 billion km, an increase of 9.5% over the first half of last year.
In the first half of the year, the coverage ratio of imports to exports was 22.8%, while the coverage ratio of imports to exports was 23.2% in the same period of 2023, a decrease of 0.4 percentage points.
Among the EU Member States to which Bosnia and Herzegovina exports the most agricultural products and food, Croatia, with 113 million km, or 20.5% of total exports in the sector, Slovenia, with 30.4 million km, Germany, with 20.1 million km, Italy, with 15.6 million km, and Austria, with 14 million km.
From January to June, among EU countries, Croatia imported the most, with 432 million kilometers, accounting for 17.9% of the industry’s total imports, followed by Slovenia with 172 million kilometers, Italy with 153 million kilometers, Hungary with 149 million kilometers, and Germany with 146 million kilometers.
As for CEFTA countries, the analysis said that in the first six months, Serbia had the largest exports, at 110 million km, accounting for 20% of Bosnia and Herzegovina’s total exports, Montenegro at 69.1 million km, North Macedonia at 40.6 million km, and Albania at 3.3 million km.
During the observation period, among CEFTA countries, the largest amount of agricultural products and food products was imported from Serbia – 615 million km, which accounted for 25.5% of the total imports of these products, followed by North Macedonia with 36.6 million km, Albania with 20.4 million km and Montenegro with 12.6 million km.
The Bosnia and Herzegovina Foreign Trade Chamber noted that “Bosnia and Herzegovina’s weakest foreign trade partner among CEFTA countries is Moldova, despite the country’s deficit of 1.9 million km.”
The most important foreign trade partner of the rest of the world in the field of agriculture and food is Turkey, with which Bosnia and Herzegovina has a free trade agreement, from which it imported 41,976 tons of these products worth 88.7 million km during the analyzed period, which accounted for 7% of total imports, while Bosnia and Herzegovina exported 29,983 tons of these products worth 35.2 million km to Turkey, which accounted for 6.4% of total exports.
The analysis states that “the dynamics of agricultural and food foreign trade over the past three years have been characterized by global economic trends, high inflation and market disruptions, mainly in energy and food trade.”
The Chamber concluded that the disruptions in the global markets have an extremely strong impact on the agricultural sector and food markets and their supply chains around the world, including in Bosnia and Herzegovina, since the domestic market is largely dependent on the markets of other countries of the world, mainly neighboring countries and the European Union.
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