Russia (RUS) and Bosnia and Herzegovina (BIH) Trade

2023

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Exports $256MRnk 66 / 137

2023

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About

Russia-Bosnia and Herzegovina Trade: In 2023, Russia exported $256M to Bosnia and Herzegovina. The main products that Russia exported to Bosnia and Herzegovina were Raw Aluminium ($100M), Petroleum Gas ($98.2M), and Mixed Mineral or Chemical Fertilizers ($16.5M). Over the past 5 years the exports of Russia to Bosnia and Herzegovina have decreased at an annualized rate of 14%, from $544M in 2018 to $256M in 2023.

In 2020, Russia exported services to Bosnia and Herzegovina worth $13M, with Other business services ($9.69M), Travel ($1.07M), and Transportation ($913k) being the largest in terms of value.

Bosnia and Herzegovina-Russia Trade: In 2023, Bosnia and Herzegovina exported $56.4M to Russia. The main products that Bosnia and Herzegovina exported to Russia were Packaged Medicaments ($50M), Iron Fasteners ($1.25M), and Other Inorganic Acids Salts ($958k). Over the past 5 years the exports of Bosnia and Herzegovina to Russia have decreased at an annualized rate of 10.5%, from $98.4M in 2018 to $56.4M in 2023.

In 2019, Bosnia and Herzegovina exported services to Russia worth $13.8M, with Travel ($12.8M) and Transportation ($1.01M) being the largest in terms of value.

Comparison: In 2023, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B). That same year, Bosnia and Herzegovina ranked 37 in the Economic Complexity Index (ECI 0.7), and 105 in total exports ($9.67B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $16.2M and imported $5.65M from Bosnia and Herzegovina, resulting in a positive trade balance of $10.6M. Between January 2021 and January 2022 the exports of Russia have increased by $8.92M (122%) from $7.31M to $16.2M, while imports increased by $832k (17.3%) from $4.82M to $5.65M.

Trade In January 2022, the top exports of Russia to Bosnia and Herzegovina were Commodities not elsewhere specified ($5.17M), Other Steel Bars ($1.46M), Other Furniture ($167k), Rolled Tobacco ($61.9k), and Wood Fiberboard ($61.4k). In January 2022 the top imports of Russia from Bosnia and Herzegovina were Apples and Pears ($1.96M), Packaged Medicaments ($1.27M), Hair Trimmers ($404k), Leather Footwear ($200k), and Rubber Footwear ($161k).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($13.1M), BELGOROD REGION ($1.49M), SAMARA REGION ($390k), VORONEZH REGION ($310k), and VOLOGDA REGION ($267k), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($4.39M), MOSCOW REGION ($668k), KRASNODAR TERRITORY ($113k), KALININGRAD REGION ($104k), and NIZHNY NOVGOROD REGION ($89k).

Growth In January 2022, the increase in Russia's year-by-year exports to Bosnia and Herzegovina was explained primarily by an increase in product exports in Other Steel Bars ($1.21M or 481%), Other Furniture ($150k or 869%), and Wood Fiberboard ($46k or 300%). In January 2022, the increase in Russia's year-by-year imports from Bosnia and Herzegovina was explained primarily by an increase in product imports in Apples and Pears ($192k or 10.9%), Knit Men's Undergarments ($144k or 8.37k%), and Hair Trimmers ($78.9k or 24.3%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$8.92M(122%)

IMPORT GROWTH (January 2021 - January 2022)$832k(17.3%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$13.1M

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Bosnia and Herzegovina and Russia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Russia exported $256M to Bosnia and Herzegovina. The main products exported from Russia to Bosnia and Herzegovina were Raw Aluminium ($100M), Petroleum Gas ($98.2M), and Mixed Mineral or Chemical Fertilizers ($16.5M). During the last 5 years the exports of Russia to Bosnia and Herzegovina have decreased at an annualized rate of 14%, from $544M in 2018 to $256M in 2023.

In 2018, Bosnia and Herzegovina exported $56.4M to Russia. The main products exported from Bosnia and Herzegovina to Russia were Packaged Medicaments ($50M), Iron Fasteners ($1.25M), and Other Inorganic Acids Salts ($958k). During the last 5 years the exports of Bosnia and Herzegovina to Russia have decreased at an annualized rate of 10.5%, from $98.4M in 2023 to $56.4M in 2018.

Exports from Russia () to Bosnia and Herzegovina () (2023)

Exports from Bosnia and Herzegovina () to Russia () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$129B

Bosnia and Herzegovina
Top DestinationGermany$1.48B

This map shows whether countries import more from Russia or Bosnia and Herzegovina. Each country is colored based on the difference in imports they receive from Russia and Bosnia and Herzegovina or the difference in the growth in imports.

In 2023, countries that imported more from Russia than Bosnia and Herzegovina included China ($129B), India ($66.1B), and Turkey ($31B).

In 2023, countries that imported more from Bosnia and Herzegovina than Russia included Croatia ($1.39B), Austria ($996M), and Slovenia ($825M).

Difference in imports from Bosnia and Herzegovina () and Russia () (2023)

Comparative Advantage Russia - Bosnia and Herzegovina

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Russia and Bosnia and Herzegovina by product, considering products traded by both, Russia and Bosnia and Herzegovina.

During 2023, Russia had a large net trade with Bosnia and Herzegovina in the exports of Metals ($113M), Mineral Products ($107M), and Chemical Products ($28.4M).

During 2018, Bosnia and Herzegovina had a large net trade with Russia in the exports of Chemical Products ($50.9M), Metals ($1.55M), and Machines ($1.4M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Bosnia and Herzegovina+$21.8MCoal Briquettes

Top Product Potential Bosnia and Herzegovina Russia+$6.64MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Bih Year

Rus Year

In 2020, Russia exported services to Bosnia and Herzegovina worth $13M, with Other business services ($9.69M), Travel ($1.07M), and Transportation ($913k) being the largest in terms of value.

In 2019, Bosnia and Herzegovina exported services to Russia worth $13.8M, with Travel ($12.8M) and Transportation ($1.01M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Bosnia and Herzegovina () (2020)

Services Exports from Bosnia and Herzegovina () to Russia () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Russia and Bosnia and Herzegovina. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Bosnia and Herzegovina. Similarly, a dot/product with the flag of Bosnia and Herzegovina indicates it has a comparative advantage over Russia.

Product Space of Russia () and Bosnia and Herzegovina () (2023)

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