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2022
Economic Complexity
Trade 0.67Rank 39 of 133
2021
Economic Complexity
Technology -0.072Rank 51 of 96
2022
Economic Complexity
Research -1.07Rank 121 of 135
2022
Product
Exports | Imports $10.2B | $15.8B102 of 226 |  96 of 226
2022
Per Capita Product
Exports | Imports $3.17k | $4.9k81 of 220 |  85 of 220

About

Overview In 2022, Bosnia and Herzegovina was the number 110 economy in the world in terms of GDP (current US$), the number 102 in total exports, the number 96 in total imports, the number 88 economy in terms of GDP per capita (current US$) and the number 39 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Bosnia and Herzegovina are Electricity ($606M), Raw Aluminium ($458M), Seats ($338M), Insulated Wire ($337M), and Iron Structures ($335M), exporting mostly to Croatia ($1.47B), Germany ($1.46B), Serbia ($1.35B), Italy ($1.07B), and Austria ($942M).

Imports The top imports of Bosnia and Herzegovina are Refined Petroleum ($1.46B), Raw Aluminium ($595M), Coal Briquettes ($492M), Cars ($437M), and Electricity ($344M), importing mostly from Croatia ($2.45B), Serbia ($2.14B), Germany ($1.33B), Italy ($1.26B), and China ($1.04B).

Location Bosnia and Herzegovina borders Croatia, Montenegro, and Serbia by land.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Electricity$606M
Top Destination (2022)Croatia$1.47B

In 2022, Bosnia and Herzegovina exported a total of $10.2B, making it the number 102 exporter in the world. During the last five reported years the exports of Bosnia and Herzegovina have changed by $3.32B from $6.92B in 2017 to $10.2B in 2022.

The most recent exports are led by Electricity ($606M), Raw Aluminium ($458M), Seats ($338M), Insulated Wire ($337M), and Iron Structures ($335M). The most common destination for the exports of Bosnia and Herzegovina are Croatia ($1.47B), Germany ($1.46B), Serbia ($1.35B), Italy ($1.07B), and Austria ($942M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Croatia$327M (+ 28.7%)
Serbia$251M (+ 22.9%)
Germany$179M (+ 14%)
Fastest Growing Import Markets (2021 - 2022)
Croatia$637M (+ 35.1%)
India$306M (+ 241%)
Serbia$304M (+ 16.6%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2019)

Service Imports (2019)

Economic Complexity

Overview

Economic Complexity (Trade)0.67Rank 39 of 133
Economic Complexity (Technology)-0.072Rank 51 of 96
Economic Complexity (Research)-1.07Rank 121 of 135

Most Specialized Products by RCA Index

Bosnia and Herzegovina has a high level of specialization in Sulfides (111), Densified Wood (81.2), Tar (56.1), Other Inorganic Acids Salts (53.1), and Other Zinc Products (50.9). Specialization is measured using RCA, an index that takes the ratio between Bosnia and Herzegovina observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Bosnia and Herzegovina according to the product complexity index (PCI) are Machine-tools; for planing, shaping, slotting, broaching, gear cutting and grinding, finishing, sawing,... (2.08), Tools, interchangeable; for hand tools, whether or not power-operated, or for machine... (1.68), Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including... (1.67), Parts & accessories suited for use only/mainly with machines of headings 8456-8465,... (1.49), and Ball or roller bearings (1.2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Bosnia and Herzegovina according to the relatedness index, were Knit Women's Suits (0.28), Knit Sweaters (0.27), Knit T-shirts (0.27), Other Vegetables (0.27), and Locust beans, seaweed, sugar beet, cane, for food (0.27). 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.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Bosnia And Herzegovina. These are products that tend to be co-exported with the products that Bosnia And Herzegovina exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2022)

Diversification Frontier

Filter
Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Bosnia and Herzegovina's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 39th⁩ 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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ECI (Trade) Ranking by Country

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