Bosnia and Herzegovina flag Bosnia and Herzegovina: Economic and Political Overview

Foreign trade figures of Bosnia and Herzegovina

Foreign Trade in Figures

Bosnia and Herzegovina is open to foreign trade and is expanding its global partner network. Its trade-to-GDP ratio is 100% (World Bank, latest data available), but trade development is still hampered by low productivity levels, limited access to finance, and administrative barriers. Custom duties are relatively low for most products, but various non-tariff barriers are in place. Anti-dumping and countervailing duties are sometimes imposed to protect the local industry if the price of the merchandise is below the domestic market price or if it is subsidized. Bosnia and Herzegovina seeks to attract higher foreign investment through Free Trade Zones within the country that allow investors to invest capital in specific areas, transfer their profits, and re-transfer capital. Customs duties and tariffs are not payable on imports into these zones. Furthermore, equipment (except passenger vehicles, slots, and gambling machines) imported as part of share capital is exempt from customs duties. Moreover, BiH is actively pursuing World Trade Organization membership. The country mainly imports mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (13.2%), nuclear reactors, boilers, machinery and mechanical appliances; parts thereof (8.6%), vehicles (7.5%), electrical machinery and equipment (6.9%), plastics and articles thereof (5.2%), and iron and steel (3.8%); whereas exports are led by mineral fuels (9.5%), electrical machinery (8.5%), nuclear reactors (7.9%), furniture (7.8%), and articles of iron or steel (7.3% - data national statistical agency for 2023).

The country's main export partners in 2023 were Germany (16.0%), Croatia (15.3%), and Serbia (12.5%), followed by Austria (10.3%), Italy (8.7%), and Slovenia (8.1%); while the main suppliers were Italy (13.9%), Germany (12.0%), Serbia (10.2%), China (9.5%), Croatia (7.5%), Turkey (5.6%), and Slovenia (3.9%  - data national statistical agency). Overall, the EU was the biggest trading partner.

The country has a structural trade deficit: in 2022, the World Bank estimated the external balance on goods and services to be negative by 11.8% of GDP (from 13.6% one year earlier). In the same period, the Federation exported USD 9.23 billion worth of goods and USD 3.28 billion in services, importing USD 15.3 billion and 1.1 billion, respectively (data WTO). According to preliminary official data, in 2024, Bosnia and Herzegovina's trade deficit rose to BAM 12.58 billion (USD 6.72 billion), a 13.6% increase from BAM 11.07 billion in 2023, as exports fell by 3.7% to BAM 16.07 billion, while imports rose by 3.2% to BAM 28.65 billion.

 
Foreign Trade Values 20202021202220232024
Imports of Goods (million USD) 9,87313,02915,37615,35515,847
Exports of Goods (million USD) 6,1558,6149,6749,2328,890
Imports of Services (million USD) 5517359021,1161,292
Exports of Services (million USD) 1,5092,4473,0483,5463,730

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20202021202220232024
Foreign Trade (in % of GDP) 82.196.5110.299.6100.0
Trade Balance (million USD) -3,660-4,326-5,453-5,674-6,500
Trade Balance (Including Service) (million USD) -2,706-2,623-3,329-3,244-4,061
Imports of Goods and Services (Annual % Change) -13.420.66.2-1.32.8
Exports of Goods and Services (Annual % Change) -15.826.112.0-1.2-3.1
Imports of Goods and Services (in % of GDP) 47.953.961.955.757.2
Exports of Goods and Services (in % of GDP) 34.242.648.343.942.8

Source: World Bank ; Latest available data

Foreign Trade Forecasts 2025 (e)2026 (e)2027 (e)2028 (e)2029 (e)
Volume of exports of goods and services (Annual % change) 2.85.44.64.34.0
Volume of imports of goods and services (Annual % change) 2.64.74.84.84.9

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Bosnia and Herzegovina is a member of the Central European Free Trade Agreement (CEFTA) and has signed a Free Trade Agreement with Turkey. The Stabilisation and Association Agreement (SAA) between the EU and Bosnia and Herzegovina went into effect on 1 June 2015. The SAA Agreement is a commitment to further the relationship between the EU and Bosnia and Herzegovina and will complement the existing interim trade agreement. Bosnia and Herzegovina also has preferential regimes with the U.S., Australia, New Zealand, Switzerland, Norway, Russia, Japan and Canada.
 

Main Partner Countries

Main Customers
(% of Exports)
2024
Croatia 16.1%
Germany 15.3%
Serbia 12.1%
Austria 9.8%
Slovenia 8.2%
See More Countries 38.4%
Main Suppliers
(% of Imports)
2024
Italy 12.9%
Germany 11.8%
Serbia 10.4%
China 9.6%
Croatia 7.5%
See More Countries 47.8%

Source: Comtrade, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

8.9 bn USD of products exported in 2024
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors 4.3%
Electrical energyElectrical energy 4.2%
Structures and parts of structures "e.g., bridges...Structures and parts of structures "e.g., bridges and bridge-sections, lock-gates, towers, lattice masts, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors, shutters, balustrades, pillars and columns", of iron or steel; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures, of iron or steel (excl. prefabricated buildings of heading 9406) 3.4%
Seats, whether or not convertible into beds, and...Seats, whether or not convertible into beds, and parts thereof, n.e.s. (excl. medical, surgical, dental or veterinary of heading 9402) 3.1%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 3.0%
See More Products 82.1%
15.9 bn USD of products imported in 2024
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 8.2%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.4%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.6%
Copper wire (excl. surgical sutures, stranded wire...Copper wire (excl. surgical sutures, stranded wire, cables, plaited bands and the like and other articles of heading 7413, electrically insulated wires and strings for musical instruments) 1.6%
Coal; briquettes, ovoids and similar solid fuels...Coal; briquettes, ovoids and similar solid fuels manufactured from coal 1.3%
See More Products 82.0%

Source: Comtrade, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

3.6 bn USD of services exported in 2023
52.49%
18.27%
13.06%
11.82%
1.85%
1.40%
0.54%
0.18%
0.16%
0.14%
0.08%
0.02%
1.1 bn USD of services imported in 2023
36.48%
33.50%
7.29%
6.61%
5.52%
5.37%
2.01%
1.28%
0.82%
0.65%
0.30%
0.17%

Source: United Nations Statistics Division, 2025. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: October 2025