Bosnia and Herzegovina Economy 2018, CIA World Factbook
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Bosnia and Herzegovina Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Bosnia and Herzegovina Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Bosnia and Herzegovina 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. The economy is among the least competitive in the region. Foreign banks, primarily from Austria and Italy, control much of the banking sector, though the largest bank in the Republika Srpska entity is a private domestic one. The konvertibilna marka (convertible mark) - the national currency introduced in 1998 - is pegged to the euro through a currency board arrangement, which has maintained confidence in the currency and has facilitated reliable trade links with European partners. In 2016, Bosnia began a three-year IMF loan program, but it has struggled to meet the economic reform benchmarks required to receive all funding installments.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. Since 2013, Bosnia and Herzegovina has posted positive economic growth, though severe flooding hampered recovery in 2014. Bosnia and Herzegovina became a full member of the Central European Free Trade Agreement in September 2007.Bosnia and Herzegovina's private sector is growing slowly, but foreign investment dropped sharply after 2007 and remains low. 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, though public perceptions of government corruption and misuse of taxpayer money has encouraged a large informal economy to persist. National-level statistics have 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):
$43.85 billion (2017 est.) $42.78 billion (2016 est.) $41.94 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 113

GDP (official exchange rate):
$17.46 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.5% (2017 est.) 2% (2016 est.) 3% (2015 est.)
country comparison to the world: 133
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$11,400 (2017 est.) $11,100 (2016 est.) $10,900 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 135

Gross national saving:
12.9% of GDP (2017 est.) 11.9% of GDP (2016 est.) 10.5% of GDP (2015 est.)
country comparison to the world: 140
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 78.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 17%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1.5%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 36.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -53.2% (2017 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% (2017 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:
3% (2017 est.)
country comparison to the world: 97
[see also: Industrial production growth rate country ranks ]

Labor force:
1.51 million (2017 est.)
country comparison to the world: 131
[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:
20.5% (2017 est.) 25.4% (2016 est.)
note: official rate; actual rate is lower as many technically unemployed persons work in the gray economy
country comparison to the world: 186
[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)

Distribution of family income - Gini index:
36.2 (2007)
country comparison to the world: 88
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $7.798 billion
[see also: Budget - revenues country ranks ]
expenditures: $7.996 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
44.7% of GDP (2017 est.)
country comparison to the world: 23
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.1% of GDP (2017 est.)
country comparison to the world: 63
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
43.2% of GDP (2017 est.) 44.2% of GDP (2016 est.)
note: data cover general government debt, and includes 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 intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions.
country comparison to the world: 124
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.8% (2017 est.) -1.1% (2016 est.)
country comparison to the world: 80
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
4.5% (31 December 2017 est.) 5.24% (31 December 2016 est.)
country comparison to the world: 152
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$6.424 billion (31 December 2017 est.) $5.013 billion (31 December 2016 est.)
country comparison to the world: 95
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$13.34 billion (31 December 2017 est.) $10.89 billion (31 December 2016 est.)
country comparison to the world: 101
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$10.68 billion (31 December 2017 est.) $9.271 billion (31 December 2016 est.)
country comparison to the world: 105
[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:
-$752 million (2017 est.) -$741 million (2016 est.)
country comparison to the world: 119
[see also: Current account balance country ranks ]

Exports:
$4.803 billion (2017 est.) $4.288 billion (2016 est.)
country comparison to the world: 110
[see also: Exports country ranks ]

Exports - commodities:
metals, clothing, wood products

Exports - partners:
Germany 16.6%, Italy 12.7%, Croatia 11%, Serbia 9.2%, Slovenia 9.1%, Austria 8.2%, Turkey 4.5% (2016)

Imports:
$9.113 billion (2017 est.) $8.361 billion (2016 est.)
country comparison to the world: 99
[see also: Imports country ranks ]

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

Imports - partners:
Germany 12.3%, Italy 11.7%, Serbia 11.2%, Croatia 9.9%, China 6.8%, Slovenia 5%, Russia 4.4%, Turkey 4.3% (2016)

Reserves of foreign exchange and gold:
$5.37 billion (31 December 2017 est.) $5.137 billion (31 December 2016 est.)
country comparison to the world: 91
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$10.45 billion (31 December 2017 est.) $10.64 billion (31 December 2016 est.)
country comparison to the world: 113
[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: 97
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$0 (2014)
country comparison to the world: 113
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
konvertibilna markas (BAM) per US dollar - 1.729 (2017 est.) 1.7674 (2016 est.) 1.7674 (2015 est.) 1.7626 (2014 est.) 1.4718 (2013 est.)


NOTE: 1) The information regarding Bosnia and Herzegovina on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bosnia and Herzegovina Economy 2018 information contained here. All suggestions for corrections of any errors about Bosnia and Herzegovina Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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