Economy - overview:
The interethnic warfare in Bosnia and Herzegovina caused production to plummet by 80% from 1992 to 1995 and unemployment to soar. With an uneasy peace in place, output recovered in 1996-99 at high percentage rates from a low base; but output growth slowed in 2000-02. Part of the lag in output was made up in 2003-08 when GDP growth exceeded 5% per year. However, the country experienced negative GDP growth of almost 3% in 2009 due in large part to a reduction in exports caused by the global economic crisis. One of Bosnia's main economic challenges in 2010 has been to reduce spending on public sector wages and social benefits to meet the IMF's criteria for obtaining funding for budget shortfalls. Banking reform accelerated in 2001 as all the Communist-era payments bureaus were shut down; foreign banks, primarily from Austria and Italy, now control most of the banking sector. The konvertibilna marka (convertible mark or BAM)- the national currency introduced in 1998 - is pegged to the euro, and confidence in the currency and the banking sector has increased. Bosnia's private sector is growing and foreign investment is slowly increasing, but government spending, at roughly 50% of GDP, remains high because of redundant government offices at the state, entity and municipal level. Privatization of state enterprises, however, has been slow, particularly in the Federation where political division between ethnically-based political parties makes agreement on economic policy more difficult. A sizeable current account deficit and high unemployment rate remain the two most serious macroeconomic problems. Successful implementation of a value-added tax in 2006 provided a predictable source of revenue for the government and helped rein in gray market activity. National-level statistics have also improved over time but a large share of economic activity remains unofficial and unrecorded. Bosnia and Herzegovina became a full member of the Central European Free Trade Agreement in September 2007.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Public debt: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: The information regarding Bosnia and Herzegovina on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bosnia and Herzegovina Economy 2011 information contained here. All suggestions for corrections of any errors about Bosnia and Herzegovina Economy 2011 should be addressed to the CIA.
$30.56 billion (2010 est.)
country comparison to the world: 107
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$16.2 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
1.1% (2010 est.)
country comparison to the world: 175
[see also: GDP - real growth rate country ranks ]
$6,600 (2010 est.)
country comparison to the world: 135
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 9.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
25.9%
[see also: GDP - composition by sector - industry country ranks ]
services:
64.3% (2006 est.)
[see also: GDP - composition by sector - services country ranks ]
1.863 million (2007)
country comparison to the world: 123
[see also: Labor force country ranks ]
agriculture: 20.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
32.6%
[see also: Labor force - by occupation - industry country ranks ]
services:
47% (2008)
[see also: Labor force - by occupation - services country ranks ]
27.2% (2010 est.)
country comparison to the world: 176
note:
official rate
[see also: Unemployment rate country ranks ]
25% (2004 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
27.4% (2004)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
56.2 (2007)
country comparison to the world: 11
[see also: Distribution of family income - Gini index country ranks ]
revenues: $7.612 billion
[see also: Budget - revenues country ranks ]
expenditures:
$8.344 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
39% of GDP (2010 est.)
country comparison to the world: 77
[see also: Public debt country ranks ]
1.9% (2010 est.)
country comparison to the world: 52
[see also: Inflation rate (consumer prices) country ranks ]
7.93% (31 December 2009 est.)
country comparison to the world: 131
[see also: Commercial bank prime lending rate country ranks ]
$4.098 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$9.307 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$10.09 billion (31 December 2010 est.)
country comparison to the world: 94
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
wheat, corn, fruits, vegetables; livestock
steel, coal, iron ore, lead, zinc, manganese, bauxite, vehicle assembly, textiles, tobacco products, wooden furniture, tank and aircraft assembly, domestic appliances, oil refining
3.3% (2008 est.)
country comparison to the world: 94
[see also: Industrial production growth rate country ranks ]
14.58 billion kWh (2007 est.)
country comparison to the world: 81
[see also: Electricity - production country ranks ]
11.62 billion kWh (2007 est.)
country comparison to the world: 82
[see also: Electricity - consumption country ranks ]
6.024 billion kWh (2007 est.)
[see also: Electricity - exports country ranks ]
3.04 billion kWh (2007 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2008 est.)
country comparison to the world: 204
[see also: Oil - production country ranks ]
30,000 bbl/day (2009 est.)
country comparison to the world: 113
[see also: Oil - consumption country ranks ]
192 bbl/day (2007 est.)
country comparison to the world: 133
[see also: Oil - exports country ranks ]
25,990 bbl/day (2007 est.)
country comparison to the world: 104
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 102
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 98
[see also: Natural gas - production country ranks ]
310 million cu m (2008 est.)
country comparison to the world: 97
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 52
[see also: Natural gas - exports country ranks ]
310 million cu m (2008 est.)
country comparison to the world: 62
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 106
[see also: Natural gas - proved reserves country ranks ]
-$887 million (2010 est.)
country comparison to the world: 131
[see also: Current account balance country ranks ]
$4.787 billion (2010 est.)
country comparison to the world: 109
[see also: Exports country ranks ]
metals, clothing, wood products
Croatia 19.07%, Slovenia 18.58%, Italy 16.87%, Germany 13.38%, Austria 10.25% (2009)
$9.403 billion (2010 est.)
country comparison to the world: 92
[see also: Imports country ranks ]
machinery and equipment, chemicals, fuels, foodstuffs
Croatia 22.17%, Germany 14.04%, Slovenia 13.45%, Italy 11.89%, Austria 6.61%, Hungary 5.74% (2009)
$2.8 billion (31 December 2010 est.)
country comparison to the world: 87
[see also: Reserves of foreign exchange and gold country ranks ]
$7.996 billion (31 December 2010 est.)
country comparison to the world: 91
[see also: Debt - external country ranks ]
konvertibilna markas (BAM) per US dollar - 1.5088 (2010), 1.4079 (2009), 1.3083 (2008), 1.4419 (2007), 1.5576 (2006)
This page was last modified 09-Feb-11