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Bosnia and Herzegovina Economy 2017
https://theodora.com/wfbcurrent/bosnia_and_herzegovina/bosnia_and_herzegovina_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Bosnia and Herzegovina Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Bosnia has a transitional economy with limited market reforms. The economy relies heavily on the export of metals, energy, textiles, and furniture as well as on remittances and foreign aid. A highly decentralized government hampers economic policy coordination and reform, while excessive bureaucracy and a segmented market discourage foreign investment. 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 remained stable.Interethnic warfare in Bosnia and Herzegovina caused production to plummet by 80% from 1992 to 1995 and unemployment to soar, but the economy made progress until 2008, when the global economic crisis caused a downturn. Bosnia and Herzegovina became a full member of the Central European Free Trade Agreement in September 2007.Bosnia's private sector is growing slowly, but foreign investment has dropped sharply since 2007. Government spending - including transfer payments - remains high, at roughly 40% of GDP, because of redundant government offices at the national, sub-national, and municipal level. High unemployment remains the most serious macroeconomic problem. Successful implementation of a value-added tax in 2006 provided a steady 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's top economic priorities are: acceleration of integration into the EU; strengthening the fiscal system; public administration reform; World Trade Organization membership; and securing economic growth by fostering a dynamic, competitive private sector.

GDP (purchasing power parity):
$42.53 billion (2016 est.) $41.29 billion (2015 est.) $40.03 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 113
[see also: GDP country ranks ]

GDP (official exchange rate):
$16.53 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3% (2016 est.) 3.2% (2015 est.) 1.1% (2014 est.)
country comparison to the world: 98
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$11,000 (2016 est.) $10,700 (2015 est.) $10,300 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 136
[see also: GDP - per capita country ranks ]

Gross national saving:
12% of GDP (2016 est.) 10.5% of GDP (2015 est.) 10.3% of GDP (2014 est.)
country comparison to the world: 144
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 80.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 18.6%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 32.8%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -55.1% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 7.8%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 26.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 65.4% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
wheat, corn, fruits, vegetables; livestock

Industries:
steel, coal, iron ore, lead, zinc, manganese, bauxite, aluminum, motor vehicle assembly, textiles, tobacco products, wooden furniture, ammunition, domestic appliances, oil refining

Industrial production growth rate:
4% (2016 est.)
country comparison to the world: 57
[see also: Industrial production growth rate country ranks ]

Labor force:
1.48 million (2016 est.)
country comparison to the world: 132
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 19%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 30%
[see also: Labor force - by occupation - industry country ranks ]
services: 51% (2013)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
43.2% (2015 est.) 43.2% (2015 est.)
note: official rate; actual rate is lower as many technically unemployed persons work in the gray economy
country comparison to the world: 199
[see also: Unemployment rate country ranks ]

Population below poverty line:
17.2% (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 27.3% (2007)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
36.2 (2007)
country comparison to the world: 86
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $7.681 billion
[see also: Budget revenues country ranks ]
expenditures: $7.975 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
46.5% of GDP (2016 est.)
country comparison to the world: 18
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.8% of GDP (2016 est.)
country comparison to the world: 65
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
46.5% of GDP (2016 est.) 46.1% of GDP (2015 est.)
note: data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as int
country comparison to the world: 96
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.8% (2016 est.) -1% (2015 est.)
country comparison to the world: 10
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
5% (31 December 2016 est.) 5.79% (31 December 2015 est.)
country comparison to the world: 140
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$5.008 billion (31 December 2016 est.) $4.554 billion (31 December 2015 est.)
country comparison to the world: 100
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$9.223 billion (31 December 2015 est.) $10.72 billion (31 December 2014 est.)
country comparison to the world: 108
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$9.367 billion (31 December 2016 est.) $9.389 billion (31 December 2015 est.)
country comparison to the world: 106
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$847 million (2016 est.) -$901 million (2015 est.)
country comparison to the world: 115
[see also: Current account balance country ranks ]

Exports:
$3.93 billion (2016 est.) $3.95 billion (2015 est.)
country comparison to the world: 115
[see also: Exports country ranks ]

Exports - commodities:
metals, clothing, wood products

Exports - partners:
Slovenia 16.5%, Italy 15.9%, Germany 12.1%, Croatia 11.5%, Austria 11.1%, Turkey 5.2% (2015)

Imports:
$7.765 billion (2016 est.) $8.173 billion (2015 est.)
country comparison to the world: 104
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, chemicals, fuels, foodstuffs

Imports - partners:
Croatia 19.3%, Germany 13.9%, Slovenia 13.8%, Italy 10.9%, Austria 5.7%, Hungary 5.2%, Turkey 4.5% (2015)

Reserves of foreign exchange and gold:
$4.8 billion (31 December 2016 est.) $4.791 billion (31 December 2015 est.)
country comparison to the world: 93
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$9.768 billion (31 December 2016 est.) $9.597 billion (31 December 2015 est.)
country comparison to the world: 110
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$7.92 billion (2014 est.) $7.721 billion (2013 est.)
country comparison to the world: 96
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$0 (2014)
country comparison to the world: 107
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
konvertibilna markas (BAM) per US dollar - 1.806 (2016 est.) 1.7626 (2015 est.) 1.7626 (2014 est.) 1.4718 (2013 est.) 1.52 (2012 est.)


NOTE: The information regarding Bosnia and Herzegovina on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bosnia and Herzegovina Economy 2017 information contained here. All suggestions for corrections of any errors about Bosnia and Herzegovina Economy 2017 should be addressed to the CIA.




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