Balkan arms manufacturers and dealers have profited from the war in Ukraine, the figures confirm this. Since 2022, Serbia's arms exports have quadrupled, reaching around 800 million euros. During the first four months of this year, Bosnia and Herzegovina exported almost twice as many firearms and ammunition as during the same period last year.
“Arms production and sales are booming in the Balkans,” underlines Jasmin Mujanovic, political scientist associated with the New Lines Institute think tank. Numerous orders from Ukraine have revived Serbian and Bosnian munitions factories that were threatened with bankruptcy until recently.
During the Cold War, Yugoslavia was a major arms producer, with a thriving arms industry. One of the largest companies, Igman, was located in Bosnia and Herzegovina, in Konjic. After the breakup of Yugoslavia, Serbia concentrated munitions production at the Prvi Partizan factory in Uzice, in the west of the country. These companies and many others have experienced a new boom in recent years.
Ukraine and its allies willingly buy ammunition and military equipment
