For the first time since they started dropping in January 2009 (yoy), exports have rebounded and grown for two consecutive months in January and February.
Jan-Feb exports were up 17% (yoy), but they are still 9% below where they were during the same months in 2008. By industrial groupings, export growth was strongest in the energy sector (33%), intermediate goods (32%) and durable consumer goods (22%). On the other hand, exports of capital and non-durable consumer goods were down 16% and 2% respectively. Export growth is observed across all traditional BH industries: electric power, steel, aluminum, furniture, as well as primary agricultural products.
Imports continued dropping, reflecting tight credit and indicating still weak investment. Jan-Feb imports dropped 6% (yoy) and they were 28% lower than during the same months in 2008.