The coverage of import by export reached the record level in the Republic of Srpska and from January to October this year it was 71.4 percent.
According to the latest report of the Republic Institute for Statistics, coverage was highest at the beginning of the year – in January, when it was 92.3, and the lowest in April and June with 61%.
In the period January-October this year, exports increased by 21.9 percent compared to the previous year.
“Indicators of foreign trade, or faster growth of exports from imports, are encouraging this year. It is very important for our economy to continue these trends by the end of the year, but also in the future,” said spokesman of the Serbian Chamber of Commerce Vladimir Blagojevic.
These positive indicators are most affected by exports of wood processing and food industry.
“In order to achieve even better results in the upcoming period, and for our export to reach the value of imports, it is very important to implement the measures we have sent to the Government, which relate to the economic downturn and the improvement of the conditions of business in the Republic of Srpska, so that our companies were as competitive as domestic, but also on foreign markets. In some sectors there is an interest of foreign companies for cooperation with our “, Blagojevic said.
According to him, the problem is the conditions of business and the lack of suitably qualified and quality workforce in our country, accompanied by an increasing number of people leaving from the Republic of Srpska and BiH, which puts them into question.
The volume of foreign exchange trade of the Republic of Srpska in the period January-October this year amounted to 6,844,741 KM, out of which the export amounted to BAM 2,852,088, while imports amounted to BAM 3,992,653.
Economic analyst Predrag Dudukovic pointed out that a higher influx of foreign exchange has always been good.
“The bigger inflow, and the smaller outflow of foreign currency means that the economy will work better. However, there is a problem like the fact that imports in those more expensive and more luxurious items have fallen, not because we produce them, but because of the decline in purchasing power citizens, and this should be paid attention to, “added Dudukovic.
In his view, exports need to be further strengthened when it comes to energy, wood and metal industries.
“Especially when it comes to the metal industry, because we have good experts and it is extremely demanded in the world. When it comes to wood industry, we do not need to export materials, but a finished product, which has a much higher price”, said Dudukovic.