Electrical static converters market in Bosnia and Herzegovina

Earlier Report Observations

The liberalization of Bosnia and Herzegovina's electricity market, starting in 2018, opened the sector to new participants and altered ownership structures, boosting demand for electrical static converters. The emergence of new segments, particularly in renewable energy, and the impact of the COVID-19 pandemic in 2020 further influenced investment needs and equipment requirements, supporting a rise in import volumes.

Rising electricity prices due to global energy crises and increased electricity imports shifted focus toward infrastructure modernization from 2021. The introduction of the Rulebook on electricity prosumers in 2023, regulating production and surplus sales from renewable sources, generated fresh demand for converters, contributing to market volume growth to 1.18 million units in 2023.

A continued surge in electricity imports, exceeding 100% growth in 2024, reflected declining domestic power generation and greater import dependency. Regulatory adjustments to global conditions like CBAM and announced further electricity price increases in 2025 affected the converter market, with volume stabilizing at 1.17 million units in 2024.

Production electrical static converters in Bosnia and Herzegovina

In value, 2018-2021, K $ US

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

In kind, 2018-2021, unit

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

Exports electrical static converters from Bosnia and Herzegovina

Exports in kind, K unit

Bosnia and Herzegovina's exports of foreign electrical static converters declined for the second year in a row. In 2021, exports totaled 34.2 thousand units, marking a 3.4% decrease from 2020. Looking at the broader period from 2018 to 2021, exports grew by 47.1%, which translates to an annualized rate of 13.7%. The highest export volume was recorded in 2019 at 38.0 thousand units. The most significant decline occurred in 2020 with a drop of 6.9%, while the largest increase was in 2019 with a surge of 63.6%.

Annual dynamics of product's exports from Bosnia and Herzegovina in kind, 2018-2021, K unit

From 2018 to 2021, the main destinations for Bosnia and Herzegovina's exports of electrical static converters in kind were Croatia, Germany, and Rwanda. Croatia accounted for 25.5% of exports, Germany for 16.3%, and Rwanda for 11.7%. Together, these three countries represented 53.5% of total export flows.

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

The market for electrical static converters from Bosnia and Herzegovina showed considerable volatility during these years. Exports in value terms peaked in 2019 at 920 thousand US dollars and reached their lowest point in 2018, with a 1.7-fold difference between these two years. In 2021, exports amounted to 821 thousand US dollars, reflecting a substantial increase of 46.5% compared to the previous year. The largest decline was recorded in 2020 with a drop of 39.1%, while the most significant increase occurred in 2019 with a rise of 75.0%.

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

Between 2018 and 2021, the distribution of exports in value terms was quite scattered. Croatia led with 17.7% of exports, followed by Slovenia at 10.2% and Rwanda at 9.4%. Combined, these three partners accounted for just 37.3% of total flows, with no single country emerging as a clearly dominant destination.

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 electrical static converters to Bosnia and Herzegovina

Imports in kind, K unit

In 2021, Bosnia and Herzegovina imported 709.2 thousand units of electrical static converters, an increase of 11.1% from the previous year. Over the period from 2018 to 2021, imports grew by 10.2%, corresponding to a compound annual growth rate of 3.3%. The lowest import volume was recorded in 2020 at 638.3 thousand units, which also saw the largest decline of 8.1%.

Annual dynamics of product's imports to Bosnia and Herzegovina in kind, 2018-2021, K unit

From 2018 to 2021, China was the largest supplier of electrical static converters to Bosnia and Herzegovina in kind, accounting for 64.7% of imports. Germany followed with 4.9%, and Italy with 4.5%. Together, these three countries made up 74.1% of total imports in kind.

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

Imports of electrical static converters into Bosnia and Herzegovina increased for the third consecutive year. In 2021, imports reached 19 291 thousand US dollars, up by 22.6% year-on-year. Over the 2018-2021 period, imports rose by 41.1%, with a compound annual growth rate of 12.2%.

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

Throughout 2018 to 2021, China, Germany, and Austria were the key partners for Bosnia and Herzegovina's imports of electrical static converters in value terms. China accounted for 48.2% of imports, Germany for 13.4%, and Austria for 4.9%. Collectively, these three countries represented 66.5% of total import flows.

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