Date,
Time MSK

07.04.2016



Bosnia and Herzegovina-Russian Bilateral Trade in 2015


In 2015 Bosnia and Herzegovina-Russian bilateral trade volume decreased by 39% and reached 0.6 billion USD compared to 0.9 billion USD in 2014.


Bosnia and Herzegovina exports to Russia rose to 0.1 billion USD (by 3%) while imports fell to 0.5 billion USD (by 41%) (see Figure 1).



Figure 1. 2007-2015 Bosnia and Herzegovina-Russian bilateral trade turnover, billion USD. Source: ITC Trade Map.

Figure 1. 2007-2015 Bosnia and Herzegovina-Russian bilateral trade turnover, billion USD.png


Bosnia and Herzegovina exports to Russia


Bosnia and Herzegovina primarily exports to Russia the following products (see Figure 2, Table 1):


▪ Pharmaceutical products (65%)

▪ Edible fruit, nuts, peel of citrus fruit, melons (24%)

▪ Vehicles other than railway, tramway (3%)

▪ Footwear, gaiters and the like, parts thereof (2%)

▪ Inorganic chemicals, precious metal compound, isotopes (2%)

▪ Furniture, lighting, signs, prefabricated buildings (1%)


In 2015 the imports of Bosnia and Herzegovina made products in Russia experienced a significant rise. The imports of articles of iron or steel rise by 10900%; the imports of organic chemicals- by 609%.


Figure 2. Structure of Bosnia and Herzegovina Exports to Russia in 2015. Source: ITC Trade Map.

Figure 2. Structure of Bosnia and Herzegovina Exports to Russia in 2015.png


Table 1. Key products exported from Bosnia and Herzegovina to Russia in 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume in 2014, USD thousand

Volume in 2015, USD thousand

Change in 2015, %

Share in total product imports, %

Tariff applied by Russia to Bosnia and Herzegovina products

30

Pharmaceutical products

$41,568

$36,333

-13%

0.3

5.5

08

Edible fruit, nuts, peel of citrus fruit, melons

$4,027

$13,168

227%

0.1

3.9

87

Vehicles other than railway, tramway

$2,335

$1,612

-31%

0.00

12.6

64

Footwear, gaiters and the like, parts thereof

$1,843

$1,334

-28%

0.2

8.4

28

Inorganic chemicals, precious metal compound, isotopes

$2,379

$1,158

-51%

0.1

4.2

94

Furniture, lighting, signs, prefabricated buildings

$894

$777

-13%

0.1

11.8

29

Organic chemicals

$35

$248

609%

0.00

3.4

73

Articles of iron or steel

$2

$220

10900%

0.00

9.3

84

Machinery, nuclear reactors, boilers, etc

$403

$207

-49%

0.00

1.9

10

Cereals

$0

$89

-

0.00

3.2

07

Edible vegetables and certain roots and tubers

$90

$85

-6%

0.00

9.3

44

Wood and articles of wood, wood charcoal

$140

$79

-44%

0.1

10.9

85

Electrical, electronic equipment

$0

$72

-

0.00

3.4

20

Vegetable, fruit, nut, etc food preparations

$41

$52

27%

0.00

8.2



Russian exports to Bosnia and Herzegovina


In 2015 Russia has exported to Bosnia and Herzegovina the following products (see Figure 3, Table 2):


▪ Mineral fuels, oils, distillation products, etc (88%)

▪ Aluminium and articles thereof (5%)

▪ Iron and steel (2%)

▪ Electrical, electronic equipment (1%)

▪ Machinery, nuclear reactors, boilers, etc (1%)

▪ Raw hides and skins (other than furskins) and leather (1%)


2015 showed a significant rise in Russian exports to Bosnia and Herzegovina of miscellaneous edible preparations (+896%). At the same time the exports of mineral fuels, oils, distillation products (-43%) showed a significant fall (see Table 2).



Figure 3. Structure of Russian Exports to Bosnia and Herzegovina in 2015. Source: ITC Trade Map.

Figure 3. Structure of Russian Exports to Bosnia and Herzegovina in 2015.png



Table 2. Key products exported from Russia to Bosnia and Herzegovina in 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume in 2014, USD thousand

Volume in 2015, USD thousand

Change in 2015, %

Share in total product imports, %

27

Mineral fuels, oils, distillation products, etc

$800,666

$453,018

-43%

43.6

76

Aluminium and articles thereof

$41,680

$26,007

-38%

26.1

72

Iron and steel

$13,187

$12,488

-5%

5.2

85

Electrical, electronic equipment

$2,901

$4,142

43%

0.4

84

Machinery, nuclear reactors, boilers, etc

$2,770

$3,741

35%

0.3

41

Raw hides and skins (other than furskins) and leather

$5,786

$3,322

-43%

2.3

29

Organic chemicals

$560

$2,403

329%

1.2

31

Fertilizers

$2,422

$2,382

-2%

5.6

87

Vehicles other than railway, tramway

$1,490

$1,208

-19%

0.2

39

Plastics and articles thereof

$317

$1,206

280%

0.1

21

Miscellaneous edible preparations

$119

$1,185

896%

0.1

44

Wood and articles of wood, wood charcoal

$368

$886

141%

0.3

40

Rubber and articles thereof

$418

$789

89%

0.3

73

Articles of iron or steel

$306

$564

84%

0.1


Table 3 represents basic macroeconomic and foreign trade indicators for both countries.



Table 3. Macroeconomic Indicators for Russia and Bosnia and Herzegovina. Source: IMF World Economic Outlook Database, April 2015


Macroeconomic Indicator

Russia

Bosnia and Herzegovina

GDP in 2014, billion dollars

1,857.461

17.977

GDP in 2015, billion dollars

1,175.996

16.638

Inflation, average consumer prices, %

7.82

0.583

Volume of imported goods, billion dollars

282.6

9.0

Volume of exported goods, billion dollars

492.1

5.1

Unemployment rate, %

5.10

27.00

Population, millions

143.7

3.8




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