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Bosnia and Herzegovina

Continent:

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Economy

Energy

Communications

Military &
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Transportation

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Economy Overview

Bosnia and Herzegovina ranked next to Macedonia as the poorest republic in the old Yugoslav federation. Although agriculture is almost all in private hands, farms are small and inefficient, and the republic traditionally is a net importer of food. Industry remains greatly overstaffed, a holdover from the socialist economic structure of Yugoslavia. TITO had pushed the development of military industries in the republic with the result that Bosnia was saddled with a host of industrial firms with little commercial potential. The interethnic warfare in Bosnia caused production to plummet by 80% from 1992 to 1995 and unemployment to soar. With an uneasy peace in place, output recovered in 1996-99 at high percentage rates from a low base; but output growth slowed in 2000-02. Part of the lag in output was made up in 2003-05. National-level statistics are limited and do not capture the large share of black market activity. 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 increased. Implementation of privatization, however, has been slow, and local entities only reluctantly support national-level institutions. Banking reform accelerated in 2001 as all the Communist-era payments bureaus were shut down; foreign banks, primarily from Western Europe, now control most of the banking sector. A sizeable current account deficit and high unemployment rate remain the two most serious economic problems. The country receives substantial amounts of reconstruction assistance and humanitarian aid from the international community but will have to prepare for an era of declining assistance.

Agriculture Products

wheat, corn, fruits, vegetables; livestock

Industries

steel, coal, iron ore, lead, zinc, manganese, bauxite, vehicle assembly, textiles, tobacco products, wooden furniture, tank and aircraft assembly, domestic appliances, oil refining

Industrial Production Growth Rate

5.5% (2003 est.)

Labor Force

1.026 million (2001)

Electricity production

10.51 billion kWh (2003)

Electricity Consumption

8.849 billion kWh (2003)

Electricity Exports

3.2 billion kWh (2003)

Electricity Imports

2.271 billion kWh (2003)

Unemployment Rate

45.5% official rate; grey economy may reduce actual unemployment to 25-30% (31 December 2004 est.)

Population Below Poverty Line

25% (2004 est.)

Household Income or Consumption by Percentage Share

Lowest 10%: NA%

Highest 10%: NA%

Distribution of Family Income Gini Index

26.2 (2001)

Budget

Revenues: $4.373 billion

Expenditures: $4.401 billion; including capital expenditures of $NA (2005 est.)

Public Debt

29% of GDP

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

$2.531 billion (2005 est.)

Debt External

$3.116 billion (2005 est.)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

Exchange rates: marka per US dollar - 1.5727 (2005), 1.5752 (2004), 1.7329 (2003), 2.0782 (2002), 2.1857 (2001)

Note: the marka is pegged to the euro

Year

GDP Official Exchange Rate

  • $8.495 billion 2005 est.

Fiscal Year

  • calendar year

GDP Purchasing Power Parity

  • GDP (purchasing power parity)
    $23.09 billion
  • note
    Bosnia has

GDP Real Growth Rate

    5% (2005 est.)

GDP Per Capital

    $5,200 (2005 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

  • Agriculture
    14.2%
  • Industry
    30.8%
  • Services
    55% (2002)

Inflation Rate Consumer Prices

    4.4% (2005 est.)

Current Account Balance

    $-2.087 billion (2005 est.)

Exports

    $2.7 billion f.o.b. (2005 est.)

Exports Partners

  • Croatia
    18.4%
  • Italy
    17.1%
  • Slovenia
    14.6%
  • Germany
    12.8%
  • Austria
    6.5%
  • Hungary
    5.2%
  • China
    4.2%

Exports Commodities

    Metals, clothing, wood products

Imports

    $6.8 billion f.o.b. (2005 est.)

Imports Partners

  • Croatia
    24.7%
  • Germany
    13.7%
  • Slovenia
    13.1%
  • Italy
    11%
  • Austria
    6.9%
  • Hungary
    5.5%

Imports Commodities

    Machinery and equipment, chemicals, fuels, foodstuffs
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