| BOSNIAN-HERZEGOVINIAN ECONOMY STATS: |
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Agriculture > products
wheat, corn, fruits, vegetables; livestock |
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Debt > External
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$6,734,000,000.00 |
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[86th of 136]
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Definition: Economy > Debt > External |
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Distribution of family income > Gini index
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26.2 |
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[22nd of 43]
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Definition: Economy > Distribution of family income > Gini index |
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Economic freedom
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1.2 |
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[140th of 156]
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Definition: Economy > Economic freedom |
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. |
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Definition: Economy > Economy > Overview |
Exchange rates
marka per US dollar - 1.58 (2004), 1.73 (2003), 2.08 (2002), 2.19 (2001), 2.12 (2000) |
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Definition: Economy > Exchange rates |
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Exports
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$4,243,000,000.00 |
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[104th of 189]
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Definition: Economy > Exports |
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Exports to US
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$2,100,000.00 |
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[161st of 224]
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Definition: Economy > Exports to US |
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GDP
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$11,295,700,000.00 |
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[92nd of 203]
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Definition: Economy > GDP |
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GDP > PPP
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$27,238,000,000.00 |
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[90th of 163]
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Definition: Economy > GDP > PPP |
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GDP > Real growth rate
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6% |
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[83rd of 198]
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Definition: Economy > GDP > Real growth rate |
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GDP growth > annual %
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5 annual %
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[81st of 187]
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Definition: Economy > GDP growth > annual % |
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GINI index
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26.15
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[19th of 40]
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Definition: Economy > GINI index |
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Gross National Income
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$5,036,950,000.00 |
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[102nd of 172]
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Definition: Economy > Gross National Income |
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Human Development Index
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0.786 |
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[68th of 178]
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Definition: Economy > Human Development Index |
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Income category
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Lower middle income |
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Definition: Economy > Income category |
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Inflation rate (consumer prices)
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1.6% |
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[166th of 192]
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Definition: Economy > Inflation rate (consumer prices) |
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Population below poverty line
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25% |
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[29th of 46]
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Definition: Economy > Population below poverty line |
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Public debt
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34 % of GDP |
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[66th of 121]
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Definition: Economy > Public debt |
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Tourist arrivals
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100,000 |
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[116th of 152]
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Definition: Economy > Tourist arrivals |
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