Carbon dioxide market in Bosnia and Herzegovina

Earlier Report Observations

The carbon dioxide market in Bosnia and Herzegovina experienced significant volatility between 2018 and 2024. Market volume peaked at 23,709 tons in 2021 after a period of growth, but then contracted sharply by over 50% to 11,373 tons in the following year.

A gradual recovery commenced from this low point, with market volume increasing to 12,529 tons by 2024. This rebound occurred within a changing supply landscape, where export volumes rose steadily after 2020 while domestic production levels remained subdued compared to earlier years.

The market's value mirrored this volatile trajectory, reaching 3.4 million US dollars in 2021 before declining. The subsequent recovery in physical volume from 2022 to 2024 resulted in only a modest increase in total market value, indicating a shift in the market's pricing dynamics.

Production carbon dioxide in Bosnia and Herzegovina

In value, 2018-2021, K $ US

Carbon dioxide production in Bosnia and Herzegovina increased for the second consecutive year. In 2021, output reached 3 035 K $ US, showing a robust year-on-year gain of 14.1%. Over the period from 2018 to 2021, production grew by 12.9%, with a compound annual growth rate of 4.1%. The lowest value was recorded in 2019 at 2 308 K $ US, which also saw the largest decline of 14.1%. In contrast, the largest increase occurred in 2020, with a rise of 15.3%.

Annual dynamics of production in Bosnia and Herzegovina in value, 2018-2021, K $ US

In kind, 2018-2021, t

In 2021, Bosnia and Herzegovina produced 19 608 tonnes of carbon dioxide, reflecting a moderate decrease of 4.9% compared to the previous year. From 2018 to 2021, production declined by 9.1%, with a compound annual growth rate of 3.1%. The minimum volume was recorded in 2019 at 19 212 tonnes, which also experienced the largest decline of 10.9%. The largest increase was observed in 2020, with a rise of 7.4%.

Annual dynamics of production in Bosnia and Herzegovina in kind, 2018-2021, t

Exports carbon dioxide from Bosnia and Herzegovina

Exports in kind, t

After a two-year decrease, cross-border shipments of carbon dioxide from Bosnia and Herzegovina increased. In 2021, the country exported 2 470 tonnes, marking a controlled rise of 5.4% compared to 2020. Over the period from 2018 to 2021, exports decreased by 38.4%, with a compound annual growth rate of 14.9%. The lowest volume was recorded in 2020 at 2 344 tonnes, which also saw the largest decline of 32.5%.

Annual dynamics of product's exports from Bosnia and Herzegovina in kind, 2018-2021, t

From 2018 to 2021, the main buyers of carbon dioxide from Bosnia and Herzegovina were Serbia, accounting for 45.5% of exports in kind, Croatia with 29.7%, and Slovenia at 24.1%. Together, these three countries comprised 99.3% of total exports in kind.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Bosnia and Herzegovina in kind, 2018-2021

Exports in value, K $ US

After a two-year reduction, carbon dioxide exports from Bosnia and Herzegovina increased. In 2021, exports amounted to 306.6 K $ US, indicating a rise of 10.0% from 2020. Over the period from 2018 to 2021, exports decreased by 17.5%, with a compound annual growth rate of 6.2%. The minimum value was recorded in 2020 at 278.6 K $ US, while the largest decline occurred in 2019, with a drop of 15.0%.

Annual dynamics of product's exports from Bosnia and Herzegovina in value, 2018-2021, K $ US

From 2018 to 2021, Serbia made the biggest contribution to exports in value terms at 53.0%, followed by Slovenia with 23.3%, and Croatia at 22.9%. Together, these three countries accounted for 99.2% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Bosnia and Herzegovina in value, 2018-2021

Imports carbon dioxide to Bosnia and Herzegovina

Imports in kind, t

Carbon dioxide imports into Bosnia and Herzegovina increased for the third consecutive year. In 2021, imports totalled 6 571 tonnes, which is 101.1% higher than in 2020. Between 2018 and 2021, imports grew by 145.1%, equating to an annualized rate of 34.8%.

Annual dynamics of product's imports to Bosnia and Herzegovina in kind, 2018-2021, t

Throughout 2018 to 2021, Serbia and Croatia concentrated 90.1% of total imports in kind, while the remaining share was distributed among other destinations with smaller individual contributions.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Bosnia and Herzegovina in kind, 2018-2021

Imports in value, K $ US

Bosnia and Herzegovina's carbon dioxide import volume increased for the third consecutive year. In 2021, imports amounted to 661.9 K $ US, up by 87.6% from the previous year. Between 2018 and 2021, imports rose by 133.1%, equating to an annualized rate of 32.6%.

Annual dynamics of product's imports to Bosnia and Herzegovina in value, 2018-2021, K $ US

Throughout 2018 to 2021, the country structure of imports in value terms was shaped primarily by Serbia and Croatia, which together accounted for 88.4% of total flows; other markets formed a long tail.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Bosnia and Herzegovina in value, 2018-2021