SARAJEVO, Nov. 21 (Xinhua) -- Bosnia and Herzegovina's (BiH) exports fell 4.8 percent to 13.39 billion KM (7.18 billion U.S. dollars) in the first ten months of 2024, while imports rose 3 percent to 23.87 billion KM, widening the trade deficit to 10.47 billion KM, according to the BiH Agency for Statistics.
The import-export coverage rate stood at 56.1 percent, underscoring the trade imbalance. Exports to Central European Free Trade Agreement (CEFTA) countries dropped 13.1 percent to 2.28 billion KM, while imports from CEFTA grew 3.6 percent to 2.83 billion KM, with an import-export coverage of 80.5 percent, the agency said in its report published on Wednesday.
With the European Union (EU), exports declined 4.6 percent to 9.86 billion KM, while imports increased 4.3 percent to 14.18 billion KM, yielding an import-export coverage of 69.5 percent.
Experts blame weak global demand for the export slump and point to rising imports as a sign of higher domestic consumption and reliance on foreign goods. (1 KM = 0.54 U.S. dollar)
