Bosnia and Herzegovina2021 Economic Complexity Trade : 0.65, Rank 39 of 131
2021 Economic Complexity Technology : -0.072, Rank 51 of 96
2021 Economic Complexity Research : -1.22, Rank 126 of 140
2021 Product Exports | Imports: $9.57B | $13.4B, 97 of 226 | 97 of 226
2021 Per Capita Product Exports | Imports: $2.93k | $4.11k, 85 of 219 | 94 of 219
Overview In 2021, Bosnia and Herzegovina was the number 105 economy in the world in terms of GDP (current US$), the number 97 in total exports, the number 97 in total imports, the number 86 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 ($911M), Seats ($343M), Insulated Wire ($293M), Sawn Wood ($270M), and Other Furniture ($269M), exporting mostly to Italy ($1.4B), Germany ($1.28B), Croatia ($1.14B), Serbia ($1.1B), and Austria ($800M).
Imports The top imports of Bosnia and Herzegovina are Refined Petroleum ($901M), Cars ($424M), Packaged Medicaments ($347M), Raw Aluminium ($301M), and Electricity ($239M), importing mostly from Serbia ($1.83B), Croatia ($1.83B), Germany ($1.24B), Italy ($1.21B), and Slovenia ($962M).
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.
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.
Top Export (2021): Electricity, $911M
Top Destination (2021): Italy, $1.4B
In 2021, Bosnia and Herzegovina exported a total of $9.57B, making it the number 97 exporter in the world. During the last five reported years the exports of Bosnia and Herzegovina have changed by $3.87B from $5.7B in 2016 to $9.57B in 2021.
The most recent exports are led by Electricity ($911M), Seats ($343M), Insulated Wire ($293M), Sawn Wood ($270M), and Other Furniture ($269M). The most common destination for the exports of Bosnia and Herzegovina are Italy ($1.4B), Germany ($1.28B), Croatia ($1.14B), Serbia ($1.1B), and Austria ($800M).
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 Sulfides (100), Densified Wood (77.5), Footwear Parts (42.3), Explosive Ammunition (38.4), and Tar (38.1). 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 (1.67), Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel (1.66), Parts & accessories suited for use only/mainly with machines of headings 8456-8465, including work/tool holders, self-opening dieheads, dividing heads & other special attachments for the machines; tool holders for any type of tool for working in the hand (1.61), Industrial or laboratory electric furnaces and ovens (including those functioning by induction or dielectric loss); other industrial or laboratory equipment for the heat treatment of materials by induction or dielectric loss (1.53), and Gaskets and similar joints of metal sheeting combined with other material or of two or more layers of metal; sets or assortments of gaskets and similar joints, dissimilar in composition, put up in pouches, envelopes or similar packings; mechanical seals (1.41). 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, were Knit Women's Suits (0.28), Knit Sweaters (0.27), Knit T-shirts (0.27), Rolled Tobacco (0.27), and Knit Men's Shirts (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.
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 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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