General summary
Bosnia and Herzegovina is an upper middle-income country, and as an EU potential candidate the country is embarking on a new growth model amid a period of slow growth and the global financial crisis. GDP per capita in 2017 was $4,880 with total nominal GDP of approximately $16.8 billion according to the World Bank.
The World Bank affirmed BiH’s 2018 economic growth forecast at 3.2 percent, up from 3 percent in 2017. European Bank for Reconstruction and Development (EBRD) also increased its 2018 GDP growth forecast for BiH to 3.3 percent and projected growth of about 3.5 percent in 2019.
The country’s exports are comprised of natural resources and goods including mineral fuels, aluminum, iron and steel, wood, and industrial supplies such as furniture and lighting. While the majority of exports are destined for the European Union, significant trade is performed within the CEFTA region. Bosnia and Herzegovina has increased regional integration through its participation in the Central European Free Trade Agreement and an EU Free Trade agreement. Moreover, it is considered a potential candidate for EU accession and has enhancing coordination with Europe through a Stabilization and Association Agreement.
Bosnia and Herzegovina - trade agreements
- CEFTA
- EFTA
- EU SAA
Bosnia and Herzegovina has generalized system of preferences with:
USA, New Zealand, Switzerland, Norway, Japan, Russia, Kazakhstan,Belarus, Canada and Australia.
Sources: Foreign Trade Chamber of Bosnia and Herzegovina
Last updated: 19/2-2019
