SARAJEVO (Bosnia and Herzegovina), August 17 (SeeNews) – Bosnia's arms exports rose by 20% year-on-year in the first half of 2021, reaching 131 million marka ($79 million/67 million euro), and the full year is expected to be as successful as the record-high, pre-pandemic 2019, local media reported.
Traditionally, munitions accounted for the largest part of exports, 73.4%, followed by explosives with 14.6% of the total exports of the arms industry, SRNA news agency reported on Monday, quoting figures provided by the Foreign Trade Chamber of Bosnia and Herzegovina.
The largest part of the exports in the first six months of this year, 30%, was directed to the U.S., followed by exports to Egypt, 21.77%, and the Czech Republic, 9.0%. In the same period of last year, the main export destination was Egypt, absorbing 32% of total exports of Bosnian arms industry, followed by Saudi Arabia with 20% and Turkey with 11.2%.
Other major exports markets in the first half of 2021 were Germany, Slovenia, Afghanistan, Serbia, Switzerland, Kuwait, Algeria and Bangladesh.
For Bosnia's arms industry, this year is expected to be as successful as pre-pandemic 2019 but the sector needs significant investments and upgrades to ensure its sustainable growth in the following years, SRNA quoted secretary of the group for arms manufacturing at the foreign trade chamber Adela Vukotic-Terek.
In the first six months of 2021, Bosnia's arms imports rose 19% on the year to 17.8 million marka, with Italy leading the list with 1.2 million marka worth of arms exports to the country.
Bosina's arms exports amounted to 198.5 million kuna last year, down 18% compared to 2019.
(1 euro= 1.956 marka)