Bosnia-Herz. Merchandise Trade Balance (USD bn)

Bosnia-Herz. Economy

Bosnia-Herz.'s economy in numbers:

Nominal GDP of USD 24.5 billion in 2022.

GDP per capita of USD 7,044 compared to the global average of USD 10,589.

Average real GDP growth of 2.7% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 70% of overall GDP, manufacturing 14%, other industrial activity 10%, and agriculture 6%. Looking at GDP by expenditure, private consumption accounted for 71% of GDP in 2021, government consumption 19%, fixed investment 22%, and net exports -12%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2021, manufactured products made up 71% of total merchandise exports, mineral fuels 9%, food 6%, ores and metals 10% and agricultural raw materials 5%, with other categories accounting for -1% of the total. In the same period, manufactured products made up 65% of total merchandise imports, mineral fuels 12%, food 16%, ores and metals 6% and agricultural raw materials 1%, with other goods accounting for 0% of the total. Total exports were worth USD 2 billion in 2022, while total imports were USD 4 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 2.7% in the decade to 2022. To read more about GDP growth in Bosnia-Herz., go to our dedicated page.

Fiscal policy:

Bosnia-Herz.'s fiscal deficit averaged 0.5% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 30.9% in the decade to 2022. For more information on Bosnia-Herz.'s unemployment click here.

Inflation:

Inflation averaged 1.5% in the decade to 2022. Go to our Bosnia-Herz. inflation page for extra insight.

Exchange Rate:

From end-2012 to end-2022 the convertible mark weakened by 16.7% vs the U.S. dollar. For more info on the convertible mark, click here.
GDP growth accelerated year on year in Q3 thanks to stronger expansions in both private and public spending growth. Less positively, investment rose less than in Q2 and exports contracted markedly. Meanwhile, available data for Q4 paints a less rosy picture. Industrial output plummeted throughout the period, and retail sales grew less in the quarter, as did tourist arrivals in October–November. Additionally, merchandise exports shrank at a softer pace in Q4 compared with Q3. In other news, in late January, European Commission President von der Leyen visited Bosnia and Herzegovina and urged the country to implement reforms ahead of the Commission’s report, due by March—when the EU could open accession negotiations. Additionally, she stated that the country could receive EUR 1 billion of EU investments upon completion of the reform agenda.
Projections out to 2033.

42 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 13 expert analysts.

Want to get insight on the economic outlook for Bosnia-Herz. in the coming years? FocusEconomics collects projections out to 2033 on 42 economic indicators for Bosnia-Herz. from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Bosnia-Herz. economy. To download a sample report on the Bosnia-Herz.'s economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Bosnia-Herz. Economic Data

2018 2019 2020 2021 2022
Population (million) 3.5 3.5 3.5 3.5 3.5
GDP (USD bn) 21.1 20.9 20.7 24.2 24.5
GDP per capita (USD) 6,030 5,990 5,948 6,950 7,044
GDP (EUR bn) 17.9 18.7 18.2 20.5 23.3
GDP per capita (EUR) 5,111 5,351 5,218 5,880 6,701
GDP (BAM bn) 34.9 36.5 35.6 40.0 45.5
Economic Growth (Nominal GDP, ann. var. %) 5.6 4.6 -2.6 12.5 13.7
Economic Growth (GDP, ann. var. %) 4.6 2.3 -2.9 7.3 3.8
Domestic Demand (ann. var. %) 2.9 2.9 -3.7 7.8 1.9
Private Consumption (ann. var. %) 2.6 2.3 -3.5 4.2 1.9
Government Consumption (ann. var. %) 2.2 1.0 1.5 2.9 1.3
Total Investment (ann. var. %) 4.4 6.4 -8.4 22.7 2.4
Exports (G&S, ann. var. %) 7.3 0.5 -14.8 24.6 12.0
Imports (G&S, ann. var. %) 3.9 1.3 -13.4 20.6 6.2
Industrial Production (ann. var. %) 1.6 -5.5 -6.5 9.7 1.0
Unemployment (% of active population, aop) 36.0 33.1 33.8 32.4 30.1
Fiscal Balance (% of GDP) 1.6 1.4 -4.6 0.6 0.9
Public Debt (% of GDP) 33.8 32.1 36.0 34.4 29.6
Inflation (CPI, ann. var. %, aop) 1.4 0.6 -1.1 2.0 14.0
Exchange Rate (BAM per USD, eop) 1.71 1.74 1.60 1.72 1.83
Exchange Rate (BAM per EUR, eop) 1.96 1.96 1.96 1.96 1.96
Current Account Balance (EUR bn) -0.6 -0.5 -0.6 -0.5 -1.0
Current Account Balance (% of GDP) -3.1 -2.5 -3.2 -2.2 -4.3
Merchandise Trade Balance (EUR bn) -3.8 -4.1 -3.2 -3.7 -5.2
Merchandise Exports (EUR bn) 5.3 5.2 4.8 6.5 8.4
Merchandise Imports (EUR bn) 9.2 9.3 8.0 10.2 13.6
Merchandise Exports (ann. var. %) 11.5 -2.3 -7.4 34.9 28.8
Merchandise Imports (ann. var. %) 7.1 1.1 -13.5 26.7 33.6
Foreign Direct Investment (EUR bn) 0.5 0.4 0.4 0.5 0.6
International Reserves (EUR bn) 5.9 6.4 7.1 8.4 8.2
International Reserves (months of imports) 7.8 8.3 10.6 9.9 7.3
External Debt (EUR bn) 11.0 11.3 12.2 11.0 12.3
External Debt (% of GDP) 61.4 60.7 66.9 53.8 52.7

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