CBBH Releases New Improved Statistics on Monthly Exports and Imports

The Governor of the Central Bank of Bosnia and Herzegovina (CBBH) Peter Nicholl today, June 10, 2003 announced the release of a new series of monthly statistics on exports and imports of goods on a balance of payments basis, seasonally adjusted, commencing from January 2000. These statistics provide important new monthly indicators of foreign trade activity, noting that balance of payments statistics are only available quarterly.

These statistics differ in three ways from data provided by statistical offices in BH. First, they are adjusted to a balance of payments basis (various adjustments are made for coverage, valuation, timing and classification to conform to balance of payments concepts and to ensure a more complete coverage of foreign trade).

Second, the series is on a discrete month to month basis whereas statistical office data are generally on a cumulative basis ie year to date. A discrete basis is considered more useful for economic analysis.

The third difference between this new series and foreign trade statistics published by statistical offices is that the CBBH series is seasonally adjusted, which means that the effects of regular seasonal influences are removed, facilitating economic analysis of month to month changes. This will be the first time that seasonally adjusted official economic statistics have been released in BH.

The new series, together with explanatory notes, will be placed on the CBBH website (www.cbbh.ba) on June 10, 2003 and updated monthly.