Overview In 2019 Bosnia and Herzegovina was the number 112 economy in the world in terms of GDP (current US$), the number 101 in total exports, the number 96 in total imports, the number 97 economy in terms of GDP per capita (current US$) and the number 41 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Bosnia and Herzegovina are Electricity ($348M), Seats ($308M), Leather Footwear ($202M), Other Furniture ($197M), and Insulated Wire ($192M), exporting mostly to Germany ($974M), Italy ($844M), Croatia ($810M), Serbia ($752M), and Austria ($636M).

Imports The top imports of Bosnia and Herzegovina are Refined Petroleum ($811M), Cars ($441M), Packaged Medicaments ($300M), Coal Briquettes ($192M), and Electricity ($181M), importing mostly from Croatia ($1.63B), Serbia ($1.5B), Germany ($1.07B), Italy ($969M), and Slovenia ($833M).

Location Bosnia and Herzegovina borders Croatia, Montenegro, and Serbia by land.

Historical Data

#permalink to section

Yearly Exports

#permalink to section
Value
Compare to
Depth

Top Export (2019): Electricity, $348M

Top Destination (2019): Germany, $974M

In 2019, Bosnia and Herzegovina exported a total of $7.15B, making it the number 101 exporter in the world. During the last five reported years the exports of Bosnia and Herzegovina have changed by $955M from $6.2B in 2014 to $7.15B in 2019.

The most recent exports are led by Electricity ($348M), Seats ($308M), Leather Footwear ($202M), Other Furniture ($197M), and Insulated Wire ($192M). The most common destination for the exports of Bosnia and Herzegovina are Germany ($974M), Italy ($844M), Croatia ($810M), Serbia ($752M), and Austria ($636M).

Explore Visualizations

Yearly Imports

#permalink to section
Value
Compare to
Depth

Top Import (2019): Refined Petroleum, $811M

Top Origin (2019): Croatia, $1.63B

In 2019 Bosnia and Herzegovina imported $11.2B, making it the number 96 trade destination in the world. During the last five reported years the imports of Bosnia and Herzegovina changed by $271M from $10.9B in 2014 to $11.2B in 2019.

The most recent imports of Bosnia and Herzegovina are led by Refined Petroleum ($811M), Cars ($441M), Packaged Medicaments ($300M), Coal Briquettes ($192M), and Electricity ($181M). The most common import partners for Bosnia and Herzegovina are Croatia ($1.63B), Serbia ($1.5B), Germany ($1.07B), Italy ($969M), and Slovenia ($833M).

Explore Visualizations

Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Bosnia and Herzegovina Exports Services (2017): $1.51B

Bosnia and Herzegovina Imports Services (2017): $541M

In 2017, Bosnia and Herzegovina exported $1.51B worth of services. The top services exported by Bosnia and Herzegovina in 2017 were Personal travel ($733M), Other transport ($320M), Business travel ($97M), Air transport ($89.2M), and Telecommunications services ($88.2M).

The top services imported by Bosnia and Herzegovina in 2017 were Other transport ($134M), Personal travel ($119M), Air transport ($96.6M), Financial services ($45M), and Telecommunications services ($43.6M).

Tariffs by Product

#permalink to section

The top product import tariffs by their MFN Ad Valorem value for Bosnia and Herzegovina are Air conditioners window/wall types, self-contained (15%) and Air gun pellets, parts of shotgun cartridges (15%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Bosnia and Herzegovina are:
136: Most Favoured Nation duty rate treatement
180: Preferential tariff for CEFTA countries
220: Preferential tariff for European Union countries (SAA) Stabilisation and Association Agreement
238: Preferential tariff for Iceland
242: Preferential tariff for Iran
281: Preferential tariff for Norway
307: Preferential tariff for Switzerland and Liechtenstein
322: Preferential tariff for Turkey

Economic Complexity

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

Bosnia and Herzegovina has a high level of specialization in Tar (58.7), Other Inorganic Acids Salts (52.7), Footwear Parts (49.9), Other Zinc Products (47.8), and Coke (45.9). Specialization is measured using RCA, an index that takes the ratio between Bosnia and Herzegovina observed and expected exports in each product.

Most Complex Products by PCI

#permalink to section

The highest complexity exports of Bosnia and Herzegovina according to the product complexity index (PCI) are Screws, bolts, nuts, rivets, washers, etc, iron, steel (1.81), Interchangeable tools and dies for hand or power tools (1.79), Calendaring, rolling machines, except for metal, glass (1.56), Gaskets and similar joints of metal sheet (1.55), and Moulds for metals (except ingot), plastic, rubber, etc (1.54). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Bosnia and Herzegovina according to the relatedness index, are Knit Women's Suits (0.27), Non-Knit Women's Shirts (0.27), Non-Knit Women's Undergarments (0.27), Knit Women's Shirts (0.27), and Non-Knit Women's Suits (0.27). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bosnia and Herzegovina is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

#permalink to section

This network shows the products most related to the production structure of Bosnia And Herzegovina. These are products that tend to be co-exported with the products that Bosnia And Herzegovina exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

#permalink to section
Filter
Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.

Economic Complexity Ranking

#permalink to section
Scale

During the last 16 years Bosnia and Herzegovina's⁩ ⁨economy has become relatively más complex, moving from the ⁩⁨41st to the 41st⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings