For the first time in history, Bosnia and Herzegovina (BiH) imported more electricity than it exported in January 2025. According to official data, BiH exported electricity worth 38.3 million euros during the first month of the year, while imports totaled 41.6 million euros.
This shift is concerning, as BiH has traditionally been a net exporter of electricity. In previous years, electricity exports far outweighed imports, with imported electricity valued at only a fraction of the exports. For instance, in 2024, BiH imported electricity worth 159.8 million euros, while exports reached 342.4 million euros. In 2021, imports stood at 110.3 million euros, while exports surged to 540 million euros. Similarly, during the early months of the COVID-19 pandemic in 2020, BiH exported electricity worth 255.4 million euros, compared to imports of just 49.2 million euros — a fivefold difference.
Economic analyst Igor Gavran highlighted that the latest figures reflect a broader decline in public sector management in BiH, particularly in the energy sector. He pointed to the deteriorating state of the power utility ERS, with TPP Ugljevik being in an especially poor condition. The rest of the company is facing similar challenges. Meanwhile, EPBiH seems to have resorted to raising electricity prices as its primary strategy. The current foreign trade data only mirror these underlying issues.
Gavran further explained that the previously positive trade balance in electricity exports was not necessarily a sign of economic strength. Rather, it indicated that the economy was too weak to fully utilize the electricity produced. Instead of exporting value-added products, BiH was exporting raw electricity.
The current situation, according to Gavran, is a troubling indicator of a deeper crisis. Due to poor management and a lack of investment in renewing energy capacities, BiH is likely to face an increasing energy deficit. Over time, the country will import more electricity, and exports could disappear entirely.
