Overview: In 2018 Bosnia and Herzegovina was the number 114 economy in the world in terms of GDP (current US$), the number 98 in total exports, the number 92 in total imports, and the number 42 most complex economy according to the Economic Complexity Index (ECI). In 2018, Bosnia and Herzegovina exported $7.83B and imported $11.6B, resulting in a negative trade balance of -$3.78B. In 2018, Bosnia and Herzegovina's exports per capita were $2.35k and its imports per capita were $3.49k.
In 2018 Bosnia and Herzegovina exported a total of $7.83B, making it the number 98 exporter in the world. During the last five reported years the exports of Bosnia and Herzegovina have changed by $2B from $5.82B in 2013 to $7.83B in 2018.
In 2018 Bosnia and Herzegovina imported $11.6B, making it the number 92 trade destination in the world. During the last five reported years the imports of Bosnia and Herzegovina changed by $1.26B from $10.4B in 2013 to $11.6B in 2018.
Bosnia and Herzegovina Exports Services (2017): $1.51B
Bosnia and Herzegovina Imports Services (2017): $541M
In 2017, Bosnia and Herzegovina exported $1.51B worth of services. The top services exported by Bosnia and Herzegovina in 2017 were Personal travel ($733M), Other transport ($320M), Business travel ($97M), Air transport ($89.2M), and Telecommunications services ($88.2M).
The top services imported by Bosnia and Herzegovina in 2017 were Other transport ($134M), Personal travel ($119M), Air transport ($96.6M), Financial services ($45M), and Telecommunications services ($43.6M).
This section shows forecasts for total product exports and imports for Bosnia and Herzegovina. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Bosnia and Herzegovina are:136: Most Favoured Nation duty rate treatement180: Preferential tariff for CEFTA countries220: Preferential tariff for European Union countries (SAA) Stabilisation and Association Agreement238: Preferential tariff for Iceland242: Preferential tariff for Iran281: Preferential tariff for Norway307: Preferential tariff for Switzerland and Liechtenstein322: Preferential tariff for Turkey
During the last 15 years Bosnia and Herzegovina's economy has become relatively more complex, moving from the 45th to the 42nd 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.
Bosnia and Herzegovina has a high level of specialization in Sulfides (94.3), Electricity (86.3), Other Inorganic Acids Salts (67.7), Tar (52.2), and Other Zinc Products (51.2). Specialization is measured using RCA, an index that takes the ratio between Bosnia and Herzegovina observed and expected exports in each product.
The top export opportunities for Bosnia and Herzegovina according to the relatedness index, are Knit Sweaters (0.27), Non-Knit Women's Suits (0.27), Knit Women's Suits (0.27), Other Vegetables (0.27), and Non-Knit Women's Shirts (0.26). 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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a 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 emissions.
Bosnia and Herzegovina
