Bosnia and Herzegovina - Economy
How is the economy of Bosnia and Herzegovina? Based on the information we have, Bosnia and Herzegovina has a import-dominated economy; remains consumption-heavy; lack of private sector investments and diversification; jointly addressing structural economic challenges; Chinese energy infrastructure investments; high unemployment; tourism industry impacted by COVID-19. Key agricultural products in this country include: maize, milk, vegetables, potatoes, plums, wheat, apples, barley, chicken, tomatoes (2023).
More about the economy of Bosnia and Herzegovina
| Labor force | 1.356 million (2024 est.) |
|---|---|
| Industrial production growth rate | -2.4% (2024 est.) |
| Industries | steel, coal, iron ore, lead, zinc, manganese, bauxite, aluminum, motor vehicle assembly, textiles, tobacco products, wooden furniture, ammunition, domestic appliances, oil refining |
| Population below poverty line | 16.9% (2015 est.) |
| Taxes and other revenues | 19.1% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | konvertibilna markas (BAM) per US dollar - |
| Exchange rates 2024 | 1.808 (2024 est.) |
| Exchange rates 2023 | 1.809 (2023 est.) |
| Exchange rates 2022 | 1.859 (2022 est.) |
| Exchange rates 2021 | 1.654 (2021 est.) |
| Exchange rates 2020 | 1.717 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $5.359 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $9.419 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $9.205 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $8.762 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$1.176 billion (2024 est.) |
| Current account balance 2023 | -$638.769 million (2023 est.) |
| Current account balance 2022 | -$1.078 billion (2022 est.) |
| Public debt | |
| Public debt 2023 | 40.3% of GDP (2023 est.) |
| Budget | |
| Revenues | $10.196 billion (2023 est.) |
| Expenditures | $10.463 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 11% of GDP (2024 est.) |
| Remittances 2023 | 10.2% of GDP (2023 est.) |
| Remittances 2022 | 10.5% of GDP (2022 est.) |
| Average household expenditures | |
| On food | 32.1% of household expenditures (2023 est.) |
| On alcohol and tobacco | 7.1% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $16.202 billion (2024 est.) |
| Imports 2023 | $15.37 billion (2023 est.) |
| Imports 2022 | $15.166 billion (2022 est.) |
| Imports (partners) | Italy 13%, Germany 11%, Serbia 11%, China 9%, Croatia 8% (2023) |
| Comodities Imports force | refined petroleum, cars, garments, plastic products, packaged medicine (2023) |
| Exports | |
| Imports 2024 | $16.202 billion (2024 est.) |
| Imports 2023 | $15.37 billion (2023 est.) |
| Imports 2022 | $15.166 billion (2022 est.) |
| Exports (partners) | Germany 15%, Croatia 14%, Serbia 12%, Austria 10%, Slovenia 9% (2023) |
| Comodities Exports force | footwear, electricity, garments, plastic products, insulated wire (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $64.641 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $63.077 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $61.843 billion (2022 est.) |
| GDP (official exchange rate) | $28.343 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $20,400 (2024 est.) |
| Real GDP per capita 2023 | $19,800 (2023 est.) |
| Real GDP per capita 2022 | $19,300 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 4.3% (2024 est.) |
| Industry | 22% (2024 est.) |
| Services | 58% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 68.3% (2023 est.) |
| Government consumption | 19.1% (2023 est.) |
| Investment in fixed capital | 23.1% (2023 est.) |
| Investment in inventories | 3.2% (2023 est.) |
| Exports of goods and services | 43.9% (2023 est.) |
| Imports of goods and services | -55.7% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 10.8% (2024 est.) |
| Unemployment rate 2023 | 10.7% (2023 est.) |
| Unemployment rate 2022 | 12.7% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 27.3% (2024 est.) |
| Male | 25.4% (2024 est.) |
| Female | 30.9% (2024 est.) |
All Important Facts about Bosnia and Herzegovina
Want to know more about Bosnia and Herzegovina? Check all different factbooks for Bosnia and Herzegovina below.
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Bosnia and Herzegovina Factbook
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The Economy of Bosnia and Herzegovina
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Learn about the Government of Bosnia and Herzegovina
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Communication in Bosnia and Herzegovina
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Popular Universities in Bosnia and Herzegovina
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Enerny in Bosnia and Herzegovina
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Transport in Bosnia and Herzegovina
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The Geography and society of Bosnia and Herzegovina
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The Environment of Bosnia and Herzegovina
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Military and security in Bosnia and Herzegovina