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Economy of Bosnia and Herzegovina information


Economy of Bosnia and Herzegovina
Sarajevo, the financial centre of Bosnia and Herzegovina
CurrencyBosnia and Herzegovina convertible mark (BAM)
Fiscal year
Calendar year
Trade organisations
CEFTA, WTO (observer)
Country group
  • Developing/Emerging[1]
  • Upper-middle income economy[2]
Statistics
PopulationDecrease 3,219,415 (1 January 2021, est.)[3]
GDP
  • Increase $29.07 billion (nominal, 2024 est.)[4]
  • Increase $71.25 billion (PPP, 2024 est.)[4]
GDP rank
  • 115th (nominal, 2023 est.)
  • 110th (PPP, 2023 est.)
GDP growth
  • -3.0% (2020)[4]
  • +7.4% (2021)[4]
  • +3.8% (2022)[4]
  • +2.0% (2023)[4]
GDP per capita
  • Increase $8,416 (nominal, 2024 est.)[4]
  • Increase $20,622 (PPP, 2024 est.)[4]
GDP per capita rank
  • 85th (nominal, 2023 est.)
  • 81st (PPP, 2023 est.)
GDP by sector
  • agriculture: 6.8%
  • industry: 28.9%
  • services: 64.3%
  • (2017 est.)[5]
Inflation (CPI)
−0.6% (2020 est.)[4]
Population below poverty line
17.5% (2021)[6]
Human Development Index
  • Steady 0.780 high (2021)[7] (74th)
  • Increase 0.677 medium IHDI (2021)[8]
Labour force
  • Decrease 1,583,000 (15 September 2022)[9]
  • Increase 35.5% employment rate (April 2019)[6]
Unemployment
  • 13.1% (30 June 2023)[10]
  • Positive decrease 33.8% youth unemployment (2019)[11]
Average gross salary
Increase 2,052 BAM / €1,048.59 / $1,139.89 (January 2024)[12]
Average net salary
Increase 1,328 BAM / €678.622 / $737.71 (January 2024)[13]
Main industries
steel, coal, iron ore, lead, zinc, manganese, bauxite, vehicles, textiles, tobacco products, furniture, tanks, aircraft, domestic appliances, oil refining
External
Exports$8.9 billion (2022)[14]
Export goods
electricity, car seats, iron structures, aluminum, furniture
Main export partners
  • Economy of Bosnia and Herzegovina EU 73.2%
  • Economy of Bosnia and Herzegovina Serbia 12.7%
  • Economy of Bosnia and Herzegovina Montenegro 2.8%
  • Economy of Bosnia and Herzegovina Turkey 2.5%
  • Economy of Bosnia and Herzegovina  Switzerland 2.4%

(January, 2022)[15]

Imports$11.37 billion (2021)[14]
Import goods
crude oil, automobiles, motor oil, coal, briquettes
Main import partners
Economy of Bosnia and Herzegovina EU 59.0%
  • Economy of Bosnia and Herzegovina Serbia 11.3%
  • Economy of Bosnia and Herzegovina China 7.9%
  • Economy of Bosnia and Herzegovina Turkey 5.9%
  • Economy of Bosnia and Herzegovina Russia 2.9%

(January, 2022)[15]

FDI stock
  • Increase $9.73 billion (31 December 2022 est.)[16]
  • Steady Abroad: $0 (2014)[17]
Current account
Decrease −$873 million (2017 est.)[17]
Gross external debt
Decrease$4.87 billion (30 June 2023)[18]
Public finances
Government debt
Positive decrease 18.09% of GDP (30 June 2023)[19]
Budget balance
+2.1% (of GDP) (2017 est.)[17]
Revenues7.993 billion (2017 est.)[17]
Expenses7.607 billion (2017 est.)[17]
Credit rating
  • Standard & Poor's:[20]
  • B+ (Domestic)
  • B+ (Foreign)
  • BB (T&C Assessment)
Foreign reserves
Increase $8.72 billion (September 30, 2023)[21]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

The economy of Bosnia and Herzegovina is a transitional, upper middle income economy.[17] Bosnia and Herzegovina declared independence from socialist Yugoslavia on 1 March 1992. The main trading partners are Germany, Italy, Austria, Turkey and other neighboring Balkan countries.

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ "Population on 1 January". ec.europa.eu/eurostat. Eurostat. Retrieved 19 June 2020.
  4. ^ a b c d e f g h i "IMF World Economic Outlook database".
  5. ^ "Bosnia and Herzegovina". The World Factbook (2024 ed.). Central Intelligence Agency. (Archived 2017 edition.)
  6. ^ a b "Stopa nezaposlenosti u BiH 15,7 odsto". 15 July 2019.
  7. ^ Human Development Report 2020 The Next Frontier: Human Development and the Anthropocene (PDF). United Nations Development Programme. 15 December 2020. pp. 343–346. ISBN 978-92-1-126442-5. Archived (PDF) from the original on 9 October 2022. Retrieved 13 October 2022.
  8. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 12 December 2020. Retrieved 13 October 2022.
  9. ^ "Agencija za statistiku BiH: Nezaposlenost ove godine manja za 7 posto, najviše zaposlenih u uslužnom sektoru". Klix.ba. 15 September 2022.
  10. ^ "Stopa nezaposlenosti u BiH 13,1 posto". Al Jazeera Balkans. 12 September 2023.
  11. ^ "Unemployment, youth total (% of total labor force ages 15-24) (national estimate) - Bosnia and Herzegovina". data.worldbank.org. World Bank. Retrieved 11 April 2020.
  12. ^ https://www.cazin.net/vijesti/prosjecna-plata-u-bih-1328-km-porasla-za-22-posto
  13. ^ https://www.cazin.net/vijesti/prosjecna-plata-u-bih-1328-km-porasla-za-22-posto
  14. ^ a b "Vanjskotrgovinski robni deficit BiH od januara do novembra iznosio 9,6 milijardi KM" (in Bosnian). Klix.ba. 20 December 2022. Retrieved 20 December 2022.
  15. ^ a b "European Unioe, Trade with the World" (PDF). European Union. Retrieved 19 June 2022.
  16. ^ "U BiH 2022. Godine zabilježen rekordan iznos stranih investicija, čak 1,44 milijarde KM".
  17. ^ a b c d e f "Bosnia and Herzegovina". The World Factbook (2024 ed.). Central Intelligence Agency. Retrieved 19 January 2019. (Archived 2019 edition.)
  18. ^ "Vanjski dug BiH iznosi skoro 9 milijardi KM, evo kome najviše dugujemo".
  19. ^ "Vanjski dug BiH iznosi skoro 9 milijardi KM, evo kome najviše dugujemo".
  20. ^ "Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
  21. ^ "Devizne rezerve Centralne banke BiH krajem septembra iznosile 15,92 milijarde KM".

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