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Business Profile
Economy: The collapse of the internal Yugoslav market at the beginning of the 1990s placed the Bosnian economy in serious difficulty, especially as it relied heavily on the sale of its agricultural produce and mineral ores to the rest of the Yugoslav federation. The civil war that broke out in 1992 then brought the economy to a virtual standstill. Reconstruction has been supported by US$5 billion dollars of international aid. Although the division of the economy between two jurisdictions has made economic policy-making difficult, the Bosnian economy as a whole recorded exceptional growth during the 1990s, (at some stages, exceeding 30 per cent annually). A central bank has been set up and a common currency, Konvertibilna Marka (fixed in value to the Deutschmark) successfully introduced. Most international aid was directed to the Muslim-Croat region. Nonetheless, the Republika Srpska had managed to get much of its industrial sector working again, although it relied heavily on the support of Yugoslavia. The war between NATO and Yugoslavia in the late 1990s set the Bosnian Serb economy back once again. The main agricultural products are tobacco and fruit; livestock-rearing is also important. There are extensive mineral resources, particularly of copper, lead, zinc and gold, plus iron ore and lignite coal. In both parts of the country, the economic outlook depends largely on short-term political developments.
Commercial Information: Information can be obtained from the following organisations: Chamber of Economy of Bosnia and Herzegovina, Branislava Djurdjeva 10, Sarajevo (tel: (33) 663 370 or 663 636 or 663 631; fax: (33) 663 634/5 or 214 292; e-mail: cis@komorabih.com; website: www.komorabih.com); or Central Bank of Bosnia and Herzegovina, Marsala Tita 25, 71000 Sarajevo (tel: (33) 278 100; fax: (33) 278 299; e-mail: contact@cbbh.ba; website: www.cbbh.gov.ba).
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