Croatia Still Most Important Trade Partner of Bosnia and Herzegovina

By 5 February 2018

ZAGREB, February 5, 2018 - In 2017, Croatia remained the top trading partner of Bosnia and Herzegovina, recording a significant jump in imports and exports compared to 2016, however, Serbia is narrowing the margin and could overtake Croatia, the latest data released on Monday by the Bosnia and Herzegovina Chamber of Foreign Trade, indicate.

Last year, Bosnia and Herzegovina imported goods from Croatia valued at 1.5 billion euro while exports to Croatia amounted to 678 million euro.

The most dominant commodities exported to Bosnia from Croatia include oil, electricity, sugar, chocolate and beer. Bosnian exports to Croatia are electricity, raw aluminium, timber, seats and fabric.

In comparison to 2016, exports from Croatia to Bosnia increased by 16.18% while exports from Bosnia to Croatia increased by as much as 30.38%. The statistics show that coverage of Bosnian imports from Croatia by exports in 2017 amounted to 44.7%.

Bosnia's second largest trade partner is Serbia, with the amount of the exchange of goods and services being just a little less than for Croatia, followed by Germany, Italy and Slovenia. Serbian exports to Bosnia in 2017 amounted to 1.3 billion euro and Bosnia exported commodities valued at 591 million euro to Serbia.

EU member states together are the most significant group trading with Bosnia and Herzegovina, as 70% of Bosnia's exported commodities valued at about 5.8 billion euro find their way on the EU market while at the same time imports from the EU accounted for 67.4% of the value realised in 2017, which amounted to 9.4 billion euro.

Bosnia's foreign trade deficit in 2017 amounted to 3.6 billion euro which, at the same time, meant 61% coverage of imports by exports.

Bosnia's foreign trade and economic relations minister, Mirko Šarović said that it was extremely important that Croatia and Serbia had intensively competed for the leading position in trade with Bosnia. "The figures indicate just how significant these two neighbours are," Šarović told reporters.