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Deficit of Trade in Goods in BiH in 2018 amounted to 7.53 billion BAM
April 4, 2019 12:15 PM by Y.Z
The Central Bank of Bosnia and Herzegovina (CBBH) published the data on balance of payments for 2018, according to which the current account deficit amounted to KM 1.37 billion, which is about KM 104.4 million less compared to 2017. In relative terms, the current account deficit amounts to 4.2 % of GDP, while in 2017 amounted to 4.7 % of GDP.
In 2018, too, the main cause of the current account deficit is a significant imbalance in the foreign trade of goods. The deficit of trade in goods in 2018, amounted to KM 7.53 billion and it is less by KM 144.3 million compared to 2017, although a record exports of goods was achieved in 2018. The export of goods was 8,0 % higher than in 2017, but at the same time it was accompanied by an increase of goods import by 5.3 % compared to the previous year. The balance of services recorded a surplus of KM 2.46 billion, which is by KM 201 million higher than in the previous year. The revenues from services were mainly resulting from the increase in revenues from tourism, telecommunications and IT services, and construction work which had a positive impact on the current account deficit.
In 2018, there was a deficit in the primary income amounting to KM 168.9 million, which is by KM 30.3 million higher than the deficit recorded in 2017.
Very important item of the current account is the secondary income. In 2018, the secondary income balance amounted to KM 3.87 billion, or by KM 78 million more than in 2017. Within this item, inflows amounted to KM 4.26 billion, out of which KM 2.7 billion refers to remittances from abroad.
In 2018, revenues on the capital account were generated from grants and aid in amount of KM 310.2 million, which is by KM 8.3 million more than in 2017.
The balance of the financial account in 2018 amounted to KM 857.8 million, which is by 14.1 % less compared to 2017, illustrating how much the liabilities of Bosnia and Herzegovina to non-residents have been reduced. Within the financial account, foreign liabilities (foreign direct investments to Bosnia and Herzegovina) in 2018 amounted to KM 799.8 million, is at the same level as compared to 2017.
Tags: #BiH, #centralbank, #payments, #sarajevo, #statistics, balance
Author: Y.Z
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