| Web Site Tools |
|
|
|
|
| Company Info |
|
|
|
|
|
|
|
|
| Industry Info |
|
|
|
|
|
|
| Foods For Trade |
|
|
|
|
|
|
|
|
| Other Links |
|
|
|
|
|
|
|
|
|
Bosnia and Herzegowina
| 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. The private sector is growing and foreign investment is slowly increasing, but government spending, at nearly 40% of adjusted GDP, remains unreasonably high. 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 2003-07 when GDP growth exceeded 5% per year. 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. Implementing privatization, however, has been slow, particularly in the Federation, although more successful in the Republika Srpska. 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 macroeconomic problems. On 1 January 2006 a new value-added tax (VAT) went into effect. The VAT has been successful in capturing much of the gray market economy and has developed into a significant and predictable source of revenues for all layers of government. Bosnia and Herzegovina became a full member of the Central European Free Trade Agreement in September 2007. The country receives substantial reconstruction assistance and humanitarian aid from the international community but will have to prepare for an era of declining assistance. |
 |
| Economy Statistics |
| Exports: |
$3.923 billion f.o.b. (2007 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
|
Export
Commodities: |
metals, clothing, wood products [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
|
Export
Partners: |
Croatia 19.6%, Slovenia 16.7%, Italy 15.4%, Germany 12.3%, Austria 8.7%, Hungary 5.3% (2006) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
|
| Imports: |
$9.294 billion f.o.b. (2007 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
|
Import
Commodities: |
machinery and equipment, chemicals, fuels, foodstuffs [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
|
Import
Partners: |
Croatia 24%, Germany 14.5%, Slovenia 13.2%, Italy 10%, Austria 5.9%, Hungary 5.2% (2006) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
|
|
|
|
| Foreign Trade Chamber of Bosnia and Herzegovina |
| Address: |
Mitra T. Uce 118
Tuzla, B1H-75000
Bosnia and Herzegovina |
| Phone: |
+387 33 663 631 |
| Fax: |
+387 33 663 632 |
| Website: |
http://www.komorabih.com/ |
|
|
|
|
