With a population of around 3.5 million, Bosnia & Herzegovina is a small country in a difficult economic situation. In March 2024, the EU decided to open accession negotiations with BiH, raising hopes of early socio-economic reforms.

As far as BiH’s trade is concerned, the EU is the most important trading partner and accounts for 65% of the total trade volume. Switzerland currently ranks 11th in bilateral trade and 9th among foreign investors.

Falling demand from the EU led to a decline in Bosnia and Herzegovina’s industrial production. Foreign trade statistics also recorded a slowdown in 2023. Exports fell by 6.6 % compared to the previous year. GDP growth amounted to 1.8 %, while inflation stood at 6.1 % in 2023. According to preliminary data, the increase in foreign direct investment continued in 2023.

Exports to Switzerland totalled EUR 198.4 million in 2022 (+14% compared to 2021) and imports from Switzerland EUR 547.2 million (+62% compared to 2021). However, imports of goods of Swiss origin totalled just EUR 75.9 million.

The most important export goods to Switzerland are primarily electricity, wood and wood products, ores, metals and metal products, as well as textiles. The main imports from Switzerland are machinery and electrical goods, followed by metals and metal goods as well as chemical products and pharmaceuticals.

Source: S-GE