India-Bosnia & Herzegovina Trade Relations (Value in US$ Million)
Merchandise trade
FY 2019-20
FY 2020-21
FY 2021-22
FY 2022-23
FY 2023-24
India’s exports to Bosnia & Herzegovina
15.32
15.09
17
17.23
29.28
Growth %
-1.51
12.69
1.32
69.95
India’s imports from Bosnia & Herzegovina
3.33
1.92
3.03
2.51
5.19
Growth %
-42.34
58.03
-17.04
106.38
Total
18.64
17.01
20.03
19.74
34.46
Growth %
-8.79
17.8
-1.46
74.59
Source: Department of Commerce, Ministry of Commerce and Industry, GoI
India’s export to Bosnia & Herzegovina (Value in US$ Million)
Commodity
FY 2022-23
FY 2023-24
Growth %
Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof.
4.34
14.65
237.23
Pharmaceutical products
1.87
2.33
24.47
Rubber and articles thereof.
2.15
2.31
7.19
Ceramic products.
0.84
1.48
76.8
Organic chemicals
1.57
1.39
-11.79
Tanning or dyeing extracts; tannins and their deri. Dyes, pigments and other colouring matter; paints and ver; putty and other mastics; inks.
0.68
1.22
80.32
Articles of stone, plaster, cement, asbestos, mica or similar materials.
0.56
1.12
102.02
Optical, photographic cinematographic measuring, checking precision, medical or surgical inst. And apparatus parts and accessories thereof;
0.67
0.75
13.05
Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts.
2.35
0.59
-75.1
Oil seeds and olea. Fruits; misc. Grains, seeds and fruit; industrial or medicinal plants; straw and fodder.
0.28
0.55
92.77
Articles of leather, saddlery and harness; travel goods, handbags and similar cont. articles of animal gut(other than silk-worm)gut.
0.27
0.44
60.33
Vehicles other than railway or tramway rolling stock, and parts and accessories thereof.
0.2
0.43
111.05
Copper and articles thereof.
0.19
0.37
94.41
Source: Department of Commerce, Ministry of Commerce and Industry, GoI
India’s Imports from Bosnia & Herzegovina (Value in US$ Million)
Commodity
FY 2022-23
FY 2023-24
Growth %
Arms and ammunition; parts and accessories thereof.
1.99
Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, or radi. Elem. Or of isotopes.
0.13
1.39
979.58
Wood and articles of wood; wood charcoal.
0.76
0.63
-17.44
Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof.
0.25
0.33
32.73
Footwear, gaiters and the like; parts of such articles.
0.2
Paper and paperboard; articles of paper pulp, of paper or of paperboard.
0.61
0.18
-69.94
Vehicles other than railway or tramway rolling stock, and parts and accessories thereof.
0.32
0.17
-46.76
Optical, photographic cinematographic measuring, checking precision, medical or surgical inst. And apparatus parts and accessories thereof;
0
0.12
2,308.16
Ores, slag and ash.
0.07
Raw hides and skins (other than furskins) and leather
0.38
0.05
-86.25
Iron and steel
0.02
0.04
67.38
Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts.
0.01
0.02
107.79
Articles of iron or steel
0
0
118.75
Source: Department of Commerce, Ministry of Commerce and Industry, GoI
Summary
India and Bosnia & Herzegovina (BiH) have fostered friendly relations since establishing diplomatic ties in 1995, focusing on economic, technological, and cultural collaboration, with notable progress highlighted during the fourth round of Foreign Office Consultations in 2024. Both nations aim to enhance cooperation in trade, investment, science, and tourism, backed by mechanisms such as the Joint Committee on Trade and Economic Cooperation (JTEC). Trade between the two countries has seen significant growth, with India’s exports to BiH increasing in sectors like machinery, pharmaceuticals, and ceramics, while BiH’s exports to India include inorganic chemicals and wood products. Indian investments, notably by ArcelorMittal, have bolstered BiH’s industrial sector, while BiH’s EU accession prospects present opportunities for Indian companies seeking a European manufacturing base.
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Publish date : 2024-12-17 01:33:00
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