Economy of Bosnia and Herzegovina

Economy of Bosnia and Herzegovina
	Sarajevo, the financial centre of Bosnia and Herzegovina
Currency	Bosnia and Herzegovina convertible mark (BAM)
Fiscal year	Calendar year
Trade organisations	CEFTA, WTO (observer)
Country group	Developing/Emerging; Upper-middle income economy;
Statistics
Population	3,219,415 (1 January 2021, est.)
GDP	$29.07 billion (nominal, 2024 est.); $71.25 billion (PPP, 2024 est.);
GDP rank	115th (nominal, 2023 est.); 110th (PPP, 2023 est.);
GDP growth	-3.0% (2020); +7.4% (2021); +3.8% (2022); +2.0% (2023);
GDP per capita	$9,029 (nominal, 2024 est.); $20,622 (PPP, 2024 est.);
GDP per capita rank	85th (nominal, 2023 est.); 81st (PPP, 2023 est.);
GDP by sector	agriculture: 6.8%; industry: 28.9%; services: 64.3%; (2017 est.);
Inflation (CPI)	−0.6% (2020 est.)
Population below poverty line	17.5% (2021)
Human Development Index	0.780 high (2021) (74th); 0.677 medium IHDI (2021);
Labour force	1,583,000 (15 September 2022); 35.5% employment rate (April 2019);
Unemployment	13.1% (30 June 2023); 33.8% youth unemployment (2019);
Average gross salary	2,052 BAM / €1,048.59 / $1,139.89 (January 2024)
Average net salary	1,328 BAM / €678.622 / $737.71 (January 2024)
Main industries	steel, coal, iron ore, lead, zinc, manganese, bauxite, vehicles, textiles, tobacco products, furniture, tanks, aircraft, domestic appliances, oil refining
External
Exports	$8.9 billion (2022)
Export goods	electricity, car seats, iron structures, aluminum, furniture
Main export partners	EU 73.2%; Serbia 12.7%; Montenegro 2.8%; Turkey 2.5%; Switzerland 2.4%; (January, 2022)
Imports	$11.37 billion (2021)
Import goods	crude oil, automobiles, motor oil, coal, briquettes
Main import partners	EU 59.0% Serbia 11.3%; China 7.9%; Turkey 5.9%; Russia 2.9%; (January, 2022)
FDI stock	$9.73 billion (31 December 2022 est.); Abroad: $0 (2014);
Current account	−$873 million (2017 est.)
Gross external debt	$4.87 billion (30 June 2023)
Public finances
Government debt	18.09% of GDP (30 June 2023)
Budget balance	+2.1% (of GDP) (2017 est.)
Revenues	7.993 billion (2017 est.)
Expenses	7.607 billion (2017 est.)
Credit rating	Standard & Poor's:; B+ (Domestic); B+ (Foreign); BB (T&C Assessment);
Foreign reserves	$8.72 billion (September 30, 2023)
	Main data source: CIA World Fact Book ; All values, unless otherwise stated, are in US dollars.

The economy of Bosnia and Herzegovina is a transitional, upper middle income economy. Bosnia and Herzegovina declared independence from socialist Yugoslavia on 1 March 1992. The main trading partners are Germany, Italy, Austria, Turkey and other neighboring Balkan countries.

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