BOSNIAN TRADE DEFICIT WORSENS

SARAJEVO, Bosnia (September 22,2008) - In the first eight months of 2008, Bosnia exported 4.5 billion Bosnian Marks worth of goods, while the imports amounted to 10.8 billion Bosnian Marks. The resulting deficit of 6.3 billion Bosnian Marks was therefore by 1.5 billion Bosnian Marks higher than in the same period last year.

The average export/import ratio was 41.7 per cent – by two per cent lower compared to the same time last year.

However, the Director of the Bosnian State Agency of Statistics Zdenko Milinovic informed in a press conference on Friday, the August ratio was down to 39.6 per cent. As he explained, the main factor in this was the increased import from the EU, after Bosnia cancelled some of the import tariffs.Out of total August imports of 1.3 billion Bosnian Marks, the EU accounted for 634 million Bosnian Marks (about 10% bigger share compared to July 2008).

Based on the current trends, Bosnia’s trade deficit is expected to reach approximately 10 billion Bosnian Marks,Milinovic announced.
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