Bosnia Herzegovina-North Macedonia Bilateral Trade Analysis 2023
Complete trade statistics: $223.96M total volume •Bosnia Herzegovina deficit: $21.53M
Bosnia Herzegovina → North Macedonia
$101.22M
Exports (2023)
North Macedonia → Bosnia Herzegovina
$122.75M
Imports (2023)
Trade Balance
$21.53M
Deficit for Bosnia Herzegovina
Total Trade
$223.96M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Bosnia Herzegovina and North Macedonia. Green line shows exports from Bosnia Herzegovina, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Bosnia Herzegovina-North Macedonia commercial relationship and competitive positioning in global markets.
Bosnia Herzegovina → North Macedonia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Bosnia Herzegovina's export portfolio to North Macedonia demonstrates strategic specialization, with dairy produce: milk and cream, not concentrated, not containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 1% but not exceeding 6% representing a key competitive advantage in this bilateral market.
North Macedonia → Bosnia Herzegovina Imports
Import Dependency Profile
📦 Import Strategy Analysis
Bosnia Herzegovina's import pattern from North Macedonia reveals strategic sourcingin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Bosnia Herzegovina demonstrates competitive strength in exportingdairy produce: milk and cream, not concentrated, not containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 1% but not exceeding 6% to North Macedonia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $223.96M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Bosnia Herzegovina-North Macedonia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $223.96 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Bosnia Herzegovina maintains a deficit of $21.53 million
- Export Focus: Bosnia Herzegovina's primary exports include dairy produce: milk and cream, not concentrated, not containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 1% but not exceeding 6%, meat preparations: of the poultry of heading no. 0105, (i.e. of fowls of the species gallus domesticus), zinc: articles n.e.c. in chapter 79
- Import Dependencies: Key imports from North Macedonia include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, iron or steel (excluding cast iron): tubes, pipes and hollow profiles (not seamless), welded, of square or rectangular cross-section, n.e.c. in chapter 73, meat preparations: sausages and similar products, of meat, meat offal or blood, and food preparations based on these products
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $223.96M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Bosnia Herzegovina leveraging its comparative advantages in dairy produce: milk and cream, not concentrated, not containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 1% but not exceeding 6%.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Bosnia Herzegovina's specialization in dairy produce: milk and cream, not concentrated, not containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 1% but not exceeding 6%complements North Macedonia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $223.96M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $223.96M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $223.96 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in dairy produce: milk and cream, not concentrated, not containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 1% but not exceeding 6% and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Bosnia Herzegovina's trade deficit of $21.53 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Bosnia Herzegovina and North Macedonia represents a total trade volume of $223.96 million in 2023. This partnership demonstrates an unfavorable trade balance for Bosnia Herzegovina, with imports exceeding exportsby $21.53 million.
Export Strengths
Bosnia Herzegovina's exports to North Macedonia total $101.22 million, with competitive advantages in dairy produce: milk and cream, not concentrated, not containing added sugar or other sweetening matter, of a fat content, by weight, exceeding 1% but not exceeding 6%, representing $10.11M or10.0% of bilateral exports.
Import Dependencies
Imports from North Macedonia amount to $122.75 million, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising12.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Bosnia Herzegovina's strategic sourcing from North Macedonia. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Bosnia Herzegovina and North Macedonia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023