Bosnia Herzegovina’s alumina export during 2018-20 indicates saturated growth with a steep downturn

Presently, Bosnia Herzegovina is considered an upper-middle-income country, achieving great results since 1995. The economy still deficient competitiveness and the government introduced a structural reforms program for 2019-2021 to encourage private investments and exports. The Covid-19 pandemic in 2020 hit hard the economy, reporting a negative growth balance of 5.5%, compared to 2.8% in 2019. As per the IMF's April 2021 forecast, growth is expected to resume in 2021, estimated at 3.5% of GDP, and stabilise in 2022 at 3.3%.

The South-eastern European nation has recorded 356,962 tonnes export of alumina during 2018-19 and the revenue generated from the export was $123.45 million. The export for 2020 stood at 132,024 tonnes and the earnings remained at $39 million. However, when the export volume and earnings of 2020 get added with the existing two years, it signifies 488,986 tonnes and $162.45 million respectively.

In 2018, Bosnia Herzegovina’s alumina export was documented at 178,059 tonnes and the revenue earnings accounted for the export was $60 million, whereas, in 2019, a negligible growth of 0.47% was monitored and the earnings rose to $63.45 million.

The export for 2020 was marked with a downturn by 26.20%, as the export volume dropped to 132,024 tonnes and the earnings also dipped to $39 million.

Alumina Ltd is the only company in the West Balkan and south part of the Middle Europe which is processing bauxite by Bayer's process and producing different types of hydrates and alumina.

The major trading destinations for the export of alumina are Austria, Hungary, Belarus, Italy, Poland, Romania, Serbia, etc.