Republika Srpska’s foreign trade in the first ten months of 2018 totalled USD4.59 billion, its import coverage ratio was 70.6 per cent, while a surplus was made with the EU, reports the entity Statistics Institute.
Exports totalled USD2.69 billion and imports USD1.9 billion in the observed period.
The value of exports in the ten months is 16.7 per cent higher, and the value of imports is higher by the same percentage in comparison to the same period of 2017.
Republika Srpska’s most significant trade partners have been Serbia, with the total foreign trade of around USD684 million, Italy USD584.34 million, and Germany USD396 million.
Observed by economic groups of countries, Republika Srpska’s exports to the EU market stood at around USD1.4 billion, and imports at USD1.33 billion.
Exports to the Union in the first ten months of this year are 17.8 per cent higher, and imports 16.7 per cent higher than in the same period of last year.
Economist Djurdjica Stojadinovic has told Srna that, according to the present and earlier business indicators, as well as according to the forecasts of the European Commission and Eurostat, Srpska’s trade with the EU, the major foreign trade partner, can be expected to grow in the mid-term.
“According to the projections made by international institutions, the global economy will continue to grow, which will have a positive effect on this region too,” said Stojadinovic.
Last year, the EU’s economy grew by 2.7 per cent and the trend will continue in 2018 and beyond, she said, leading to growing demands in that group of countries.
Stojadinovic added that the EU demand-led growth will keep reflecting positively on Republika Srpska’s foreign trade and the possibility of further surplus in trading with the Union.