Foreign trade deficit reduced by KM 93.9 million

11.02.2021. / 15:34

BANJA LUKA – The coverage of imports by exports in the foreign trade business of Republika Srpska last year was higher by 0.41 percent compared to 2019, while the foreign trade deficit was reduced by 93.968 million KM, according to information submitted to Srna from the Ministry of Trade and Tourism of Srpska .

source: BHRT

The information, which was adopted at today’s session of the Government of Srpska, states that last year’s coverage of imports by exports was 75.74 percent, while the foreign trade deficit amounted to 1.085 billion KM, noting that due to the existing coronary virus pandemic last year decline of certain indicators, while these two indicators had positive trends.

Last year, compared to 2019, Serbia had a decrease in foreign trade turnover by 6.22 percent, where exports were lower by 5.93 percent, and imports lower by 6.43 percent.

Last year, Serbia had 65% of the total foreign trade with the EU.

The main foreign trade partners of Republika Srpska from CEFTA countries last year were Serbia, with which the volume of foreign trade within this group of countries was 85.60 percent, then Northern Macedonia with a volume of trade of 6.22 percent, Montenegro with 5.92 percent of the exchange.

Within the countries from the CEFTA group, Srpska had a surplus in business with Montenegro and “UNMIK Kosovo” last year, while it had a deficit in trade with Serbia, Northern Macedonia, Albania and Moldova.

Republika Srpska’s main foreign trade partners from non-EU and CEFTA countries were China, Turkey, Russia and the United States.

The most common tariff heads when exporting to countries of the world are footwear, uppers and similar articles and parts thereof, wood and wood products, iron and steel products, inorganic chemical products, organic and inorganic compounds of precious metals, rare earth metals , radioactive elements and isotopes.

The most common tariff heads when importing from the countries of the world are: nuclear reactors, boilers, machines, apparatus and mechanical devices, their parts, electrical machines and equipment and their parts, sound recording or reproducing apparatus, television recording or reproducing apparatus and sound.

There are also parts and accessories for these products, mineral fuels, mineral oils and products of their distillation, bituminous substances and mineral waxes, plastics and plastic products.

Increasing the volume of foreign trade, primarily with the EU and CEFTA countries, and reducing the deficit, should continue to be a priority of foreign trade of the Republic of Srpska, it was emphasized in the information.

The Ministry of Trade and Tourism, as it is added, continuously monitors the implementation of agreements such as SAA, CEFTA, EFTA in Republika Srpska in order to react in time in terms of proposing measures to remove non-tariff and administrative barriers arising from the agreement, for faster and easier business. in Srpska.

The Ministry of Trade and Tourism also continuously conducts activities to promote the consumption of domestic products, which has a positive effect on the movement of foreign trade parameters.


Source: Capital.ba – Informacija je capital by www.capital.ba.

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