Export increased, number of unemployed decreased

Export increased, number of unemployed decreased

Sarajevo, January 20, 2016/Independent Balkan News Agency

By Mladen Dragojlovic

The BiH Council of Ministers adopted at the session on Wednesday the document “Economic Trends in BiH for the period January – September 2015”, which shows that the economic activity in BiH in the second quarter of last year was higher by 4.4 percent compared to the same period of 2014, and increased by about two percent compared to the first quarter of 2015.

According to data from the BiH Directorate for Economic Planning in the first nine months of last year, the growth of physical volume of industrial production was increased by 2.5 percent, compared to the same period last year. The most significant increase, of 4.1 percent, was recorded in the export-oriented branches of manufacturing industry, announced the Council of Ministers.

Increased production in this period followed also the increase in the number of employees in BiH industry by 1.3 percent, while growth of employment in the manufacturing industry was about 1.6 percent, and it is higher than the average increase of employment rate of 1.5 percent. Total number of employees amounted to 710.3 thousand and the total number of unemployed fell in this period by 1.2 percent and amounted to 543.4 thousand.

Budget revenues from the Joint Account of the Indirect Taxation Agency in the third quarter of last year were higher by 6.8 percent compared to the same period last year.

The total bank deposits by the end of September amounted to 16 billion BAM (eight billion Euro), and it is five percent more than in the same period of 2014. In fact, deposits achieved the highest net savings in the amount of 1.9 billion BAM (1.45 billion Euro), which is 336.7 million BAM more if it is compared to the corresponding nine months of 2014.

Foreign trade deficit for the period January – September 2015 amounted to around 5.1 billion BAM (2.55 billion Euro), and in comparison with the same period last year, were decreased by 7 percent. During this period BiH has achieved total exports of goods to the value of about 6.7 billion BAM (3.35 billion Euro), which represents a nominal increase of 4.2 percent compared to the same period year before. Exports in Slovenia was increased by 6.5 percent , Germany 4.9 percent, Serbia 3.4 percent, Italy 2.3 percent and Austria 0.6 percent with the most dramatic increase in exports of goods in the Republic of Turkey of 66 percent.

As it was announced from BiH Council of Ministers, in the first nine months of 2015, the total BiH imports amounted to approximately 11.8 billion BAM (5.54 billion Euro) and decreased by one percent compared to the same period of the previous year.