Bosnia and Herzegovina2020 Economic Complexity : 0.49, Rank 44 of 127
2020 Product Exports | Imports: $6.62B | $10.2B, 102 of 226 | 98 of 226
2020 Per Capita Product Exports | Imports: $2.02k | $3.11k, 85 of 219 | 91 of 219
2019 Service Exports | Imports : $1.88B | $745M, 80 of 108 | 99 of 108
Overview In 2020, Bosnia and Herzegovina was the number 112 economy in the world in terms of GDP (current US$), the number 102 in total exports, the number 98 in total imports, the number 95 economy in terms of GDP per capita (current US$) and the number 44 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Bosnia and Herzegovina are Electricity ($352M), Seats ($276M), Other Furniture ($208M), Iron Structures ($191M), and Insulated Wire ($191M), exporting mostly to Germany ($938M), Croatia ($797M), Serbia ($723M), Italy ($685M), and Austria ($600M).
Imports The top imports of Bosnia and Herzegovina are Refined Petroleum ($484M), Cars ($342M), Packaged Medicaments ($321M), Electricity ($153M), and Coal Briquettes ($152M), importing mostly from Serbia ($1.37B), Croatia ($1.34B), Germany ($991M), Italy ($885M), and Slovenia ($767M).
Location Bosnia and Herzegovina borders Croatia, Montenegro, and Serbia by land.
The following section uses the most recent trade data from partners of Bosnia and Herzegovina.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Electricity, $352M
Top Destination (2020): Germany, $1.37B
In 2020, Bosnia and Herzegovina exported a total of $6.62B, making it the number 102 exporter in the world. During the last five reported years the exports of Bosnia and Herzegovina have changed by $1.16B from $5.46B in 2015 to $6.62B in 2020.
The most recent exports are led by Electricity ($352M), Seats ($276M), Other Furniture ($208M), Iron Structures ($191M), and Insulated Wire ($191M). The most common destination for the exports of Bosnia and Herzegovina are Germany ($938M), Croatia ($797M), Serbia ($723M), Italy ($685M), and Austria ($600M).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Bosnia and Herzegovina Exports Services (2019): $1.88B
Bosnia and Herzegovina Imports Services (2019): $745M
In 2019, Bosnia and Herzegovina exported $1.88B worth of services. The top services exported by Bosnia and Herzegovina in 2019 were Personal travel ($1.04B), Other transport ($392M), Business travel ($137M), Air transport ($87.7M), and Construction abroad ($77.8M).
The top services imported by Bosnia and Herzegovina in 2019 were Personal travel ($240M), Other transport ($165M), Air transport ($105M), Business travel ($46.1M), and Miscellaneous business, professional, and technical services ($39.5M).
Bosnia and Herzegovina has a high level of specialization in Footwear Parts (54.2), Other Zinc Products (48.9), Other Inorganic Acids Salts (44.8), Coke (40.8), and Iron Cloth (40.4). Specialization is measured using RCA, an index that takes the ratio between Bosnia and Herzegovina observed and expected exports in each product.
The highest complexity exports of Bosnia and Herzegovina according to the product complexity index (PCI) are Tools, interchangeable; for hand tools, whether or not power-operated, or for machine tools (pressing, stamping, punching, drilling etc), including dies for drawing or extruding metal, and rock drilling or earth boring tools (1.69), Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel (1.67), Machines; calendering or other rolling machines, for other than metal or glass and cylinders therefor (1.57), Knives and cutting blades, for machines or for mechanical appliances (1.45), and Machines; for making up paper pulp, paper or paperboard, including cutting machines of all kinds (1.39). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Bosnia and Herzegovina according to the relatedness index, are Knit Women's Suits (0.3), Non-Knit Women's Shirts (0.29), Non-Knit Women's Undergarments (0.29), Knit T-shirts (0.29), and Non-Knit Women's Suits (0.29). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Bosnia and Herzegovina's economy has become relatively less complex, moving from the nullth to the 44th 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.
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