Bosnia and Herzegovina

Insights
Bosnia and Herzegovina

Bosnia and Herzegovina (BIH), which has a population of 3.2 million, is a part of the Balkan area. Bosnian Mark (BAM) is the official currency. There are 3 official languages of BIH: Bosnian, Serbian, Croatian; however the majority of people also speak English. The country’s GDP is over 23 billion USD, with a rapid growth of 7.5%. With an estimated 11% annual growth rate and a market value of over 482 million USD, the e-commerce industry of BIH offers potential for international merchants.

Regions

Balkans

Country Facts

Capital Sarajevo
Urban population 52%
Population 3.2 M
Median Age 43.1 Yr

Region Balkans
GDP 23.4 Bn USD
GDP growth 7.5%
Official Language Bosnian, Serbian, Croatian
Currency BAM

E-Commerce Facts

E-commerce market revenue 482 M USD
E-commerce growth 11%

Online shopping habits Cash is the most popular way to pay online in Bosnia and Herzegovina.

People with mobile phone (estimate)

95%
People with internet access

76%
E-commerce penetration

42%
People with bank account

79%
People with credit card

62%

Card payments
Online banking
Wallets
Other

Growth Opportunities

International merchants wishing to expand their operations in new business areas can find a wide range of opportunities in Bosnia and Herzegovina:

● Digital infrastructure is well established: 79% of the population having bank accounts, 76% having access to the Internet, and more than 95% of people using mobile phones.

● 42% of local population in Bosnia and Herzegovina already purchase online, and it is anticipated that this percentage will rise. The e-commerce industry is expected to expand quickly and surpass USD 1.4 billion by 2027, with a rapid growth rate of 11%.

E-commerce market in BIH is now expanding rapidly and provides significant potential for international merchants.