The 2010 CIA World Factbook. United States. Central Intelligence Agency

interethnic warfare in Bosnia and Herzegovina caused production to plummet by 80% from 1992 to 1995 and unemployment to soar. With an uneasy peace in place, output recovered in 1996–99 at high percentage rates from a low base; but output growth slowed in 2000–02. Part of the lag in output was made up in 2003–08 when GDP growth exceeded 5% per year. However, the country experienced negative GDP growth of almost 3% in 2009 due in large part to a reduction in exports caused by the global economic crisis. One of Bosnia's main economic challenges in 2010 has been to reduce spending on public sector wages and social benefits to meet the IMF's criteria for obtaining funding for budget shortfalls. Banking reform accelerated in 2001 as all the Communist-era payments bureaus were shut down; foreign banks, primarily from Austria and Italy, now control most of the banking sector. The konvertibilna marka (convertible mark or BAM)- the national currency introduced in 1998 - is pegged to the euro, and confidence in the currency and the banking sector has increased. Bosnia's private sector is growing and foreign investment is slowly increasing, but government spending, at roughly 50% of GDP, remains high because of redundant government offices at the state, entity and municipal level. Privatization of state enterprises, however, has been slow, particularly in the Federation where political division between ethnically-based political parties makes agreement on economic policy more difficult. A sizeable current account deficit and high unemployment rate remain the two most serious macroeconomic problems. Successful implementation of a value-added tax in 2006 provided a predictable source of revenue for the government and helped rein in gray market activity. National-level statistics have also improved over time but a large share of economic activity remains unofficial and unrecorded. Bosnia and Herzegovina became a full member of the Central European Free Trade Agreement in September 2007.

      GDP (purchasing power parity):

      $30.56 billion (2010 est.) country comparison to the world: 107 $30.23 billion (2009 est.)

      $31.23 billion (2008 est.)

      note: data are in 2010 US dollars

      GDP (official exchange rate):

      $16.2 billion (2010 est.)

      GDP - real growth rate:

      1.1% (2010 est.) country comparison to the world: 175 −3.2% (2009 est.)

      5.7% (2008 est.)

      GDP - per capita (PPP):

      $6,600 (2010 est.) country comparison to the world: 134 $6,600 (2009 est.)

      $6,800 (2008 est.)

      note: data are in 2010 US dollars

      GDP - composition by sector:

      agriculture: 9.8%

      industry: 25.9%

      services: 64.3% (2010 est.)

      Labor force:

      1.863 million (2007) country comparison to the world: 123

      Labor force - by occupation:

      agriculture: 20.5%

      industry: 32.6%

      services: 47% (2008)

      Unemployment rate:

      27.2% (2010 est.) country comparison to the world: 175 24.1% (2009 est.)

      note: official rate

      Population below poverty line:

      25% (2004 est.)

      Household income or consumption by percentage share:

      lowest 10%: 2.8%

      highest 10%: 27.4% (2004)

      Distribution of family income - Gini index:

      56.2 (2007) country comparison to the world: 11

      Public debt:

      39% of GDP (2010 est.) country comparison to the world: 77 35% of GDP (2009 est.)

      Inflation rate (consumer prices):

      1.9% (2010 est.) country comparison to the world: 52 −0.4% (2009 est.)

      Commercial bank prime lending rate:

      7.93% (31 December 2009 est.) country comparison to the world: 130 6.98% (31 December 2008 est.)

      Stock of narrow money:

      $4.098 billion (31 December 2010 est) country comparison to the world: 99 $4.182 billion (31 December 2009 est)

      Stock of broad money:

      $9.307 billion (31 December 2010 est.) country comparison to the world: 104 $9.236 billion (31 December 2009 est.)

      Stock of domestic credit:

      $10.09 billion (31 December 2010 est.) country comparison to the world: 94 $10.01 billion (31 December 2009 est.)

      Market value of publicly traded shares:

      $NA

      Agriculture - products:

      wheat, corn, fruits, vegetables; livestock

      Industries:

      steel, coal, iron ore, lead, zinc, manganese, bauxite, vehicle assembly, textiles, tobacco products, wooden furniture, tank and aircraft assembly, domestic appliances, oil refining

      Industrial production growth rate:

      3.3% (2010 est.) country comparison to the world: 94

      Electricity - production:

      14.58 billion kWh (2009 est.) country comparison to the world: 81

      Electricity - consumption:

      11.62 billion kWh (2009 est.) country comparison to the world: 82

      Electricity - exports:

      6.024 billion kWh (2009 est.)

      Electricity - imports:

      3.04 billion kWh (2009 est.)

      Oil - production:

      0 bbl/day (2008 est.) country comparison to the world: 203

      Oil - consumption:

      30,000 bbl/day (2009 est.) country comparison to the world: 112

      Oil - exports:

      192 bbl/day (2007 est.) country comparison to the world: 132

      Oil - imports:

      25,990 bbl/day (2007 est.) country comparison to the world: 103

      Oil - proved reserves:

      0 bbl (1 January 2010 est.) country comparison to the world: 102

      Natural gas - production:

      0 cu m (2008 est.) country comparison to the world: 98

      Natural gas - consumption:

      310 million cu m (2008 est.) country comparison to the world: 97

      Natural gas - exports:

      0 cu m (2008 est.) country comparison to the world: 52

      Natural gas - imports:

      310 million cu m (2008 est.) country comparison to the world: 62

      Natural gas - proved reserves:

      0 cu m (1 January 2010 est.) country comparison to the world: 106

      Current account balance:

      -$887 million (2010 est.) country comparison to the world: 131 -$1.283 billion (2009 est.)

      Exports:

      $4.787 billion (2010 est.) country comparison to the world: 109 $4.057 billion (2009 est.)

      Exports - commodities:

      metals, clothing, wood products