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Indicators of economy in Bosnia and Herzegovina

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Bosnia and Herzegovina, on the other hand, reached USD 7,143 per capita, or 23.37 billion USD for the whole country. Bosnia and Herzegovina is one of the smaller economies and is currently ranked 111. If this is calculated per inhabitant, taking purchasing power parity into account, then Bosnia and Herzegovina ranks 80th in the list of the richest countries.

Inflation in Bosnia and Herzegovina in 2022 was around 14.02%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 34, which is below average by global standards.


Back to overview: Bosnia and Herzegovina

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Bosnia and Herzegovina in 2020 decreased moderatly from 20.20 billion US dollars to 19.95 billion US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 1.2 percent is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 64 percent. Fortunately, the unemployment rate actually fell from 15.7 to 15.3 percent. The inflation rate fell from 0.6 percent previously to -1.1 percent by the end of 2020.

In 2021, there was already a recovery and the gross domestic product increased to 23.37 billion US dollars (=115.7% of 2019).

Income and purchasing power

The average monthly income in Bosnia and Herzegovina is 568 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 56.9 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Bosnia and Herzegovina than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 77.7 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 Bosnia and Herzegovina
Total		Bosnia and Herzegovina
per capita		EU
Total		EU
per capita
GDP23.37 bn USD7,143.31 USD17.177 tn USD33,384.92 USD
Gross national product22.27 bn USD6,809.48 USD16.895 tn USD32,835.37 USD


In the Global Innovation Index, Bosnia and Herzegovina ranked 70th in 2022 with 28.5 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.

Development of gross domestic product in billions of USD 1994 - 2021


› Debt budget development
› Development of inflation
› Corruption in Bosnia and Herzegovina
› Cost of living in a global comparison


Imports and Exports 2022

 Bosnia and Herzegovina
Total		Bosnia and Herzegovina
per capita		EU
Total		EU
per capita
Imports12.71 bn USD3,885.66 USD8.916 tn USD17,329.02 USD
Exports9.93 bn USD3,034.47 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1998 - 2022

Exports
Imports



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