COMPARATIVE ANALYSIS OF FOREIGN TRADE OF BOSNIA AND HERZEGOVINA FROM 2004 – 2018

Abstract

The aim of this paper is to identify the basic characteristics of foreign trade of Bosnia and Herzegovina in terms of determining the volume, trends, geographic orientation, production structure and level of concentration of export-import flows in the selected time period, with emphasis on its trade with major partners, such as the EU and CEFTA. A special emphasis has been placed on exports as a driver of growth and development of the domestic economy. In order for the economy of Bosnia and Herzegovina to grow, creating jobs and increasing economic welfare of its citizens, it must focus on international trade, particularly the increase in the volume and value of exports. To say that the export is a requirement for survival may sound dramatic, but there can be no doubt that our country needs to improve its trading result. This reflects the importance of foreign trade. The focus of the analysis is placed on the dynamics and structure of the total exchange of B&H in the period from 2004 to 2018. Analysis was done using the appropriate method of dynamic analysis (index methods, average annual growth rate). The main results indicate not so positive trends for international trade of Bosnia and Herzegovina.