ABOUT REPUBLIC OF SRPSKA

Area: 24.641 km2 or 49% of the territory of BiH
Capital: East Sarajevo (de jure), Banja Luka (seat of government) with more than 200,000 inhabitants
Population (estimation 2013): 1,326,991
Official Languages: Serbian, Bosnian, Croatian
Official font: cyrilic, latin
Currency: Konvertibilna Marka (KM), ISO currency symbol BAM, 1 Bosnia and Herzegovina Convertible Mark = 100 Feninga, 1 EUR = 1.95583 BAM
State-building: Parliamentary republic; Republic of Srpska is one of two entities of BiH
Territory: 58 towns and six cities (Banja Luka, East Sarajevo, Prijedor, Bijeljina, Doboj and Trebinje)

 Contact

Željka Milić
Tel.: +387 51 222 990
Fax: +387 51 215 565
E-Mail: zeljkaj@komorars.ba

GENERAL ECONOMIC INDICATORS 2009-2014

INDICATORS 2009. 2010. 2011. 2012. 2013. 2014.
Population in RS (estimation) 1.435.179 1.433.038 1.429.668 1.429.290 1.425.549 1.421.310
GDP nominal (in 1.000 KM) 8.243.265 8.308.120 8.670.050 8.594.153 8.761.456 8.823.628
Real growth rate -2,8% 0,8% 0,8% -1,0% 1,9% 0,4%
Number of employees (september) 253.665 247.388 237.923 238.836 240.305 243.102
Unemployment figure 139.536 145.343 150.344 153.225 151.290 142.675
Average net income (in KM) 788 784 809 818 808 825
Growth rate of industrial production 19,0% 5,0% 4,7% -4,2% 4,1% 0,7%
Export (in 1.000 KM) 1.672.915 2.177.809 2.561.928 2.374.338 2.588.104 2.694.054
Import (in 1.000 KM) 3.567.104 4.053.076 4.584.193 4.487.543 4.551.601 4.946.182
Current account balance (in 1.000 KM) -1.894.189 -1.875.267 -2.022.265 -2.113.205 -1.963.497 -2.252.128
Coverage of imports with exports 46,9% 53,7% 55,9% 52,9% 56,9% 54,5%
Inflation (consumer prices) -0,4% 2,5% 3,9% 2,1% 0,0% -1,2%
Foreign direct investment (in 1.000 KM) 104.500  –

GROSS DOMESTIC PRODUCT OF REPUBLIC OF SRPSKA

In Republic of Srpska (RS), there were in 2008 a significant increase in gross domestic product (GDP), the real growth rate was 6.2%, while the global economic crisis led to a decline in the growth rate to 2.8% in the year of 2009. In 2010 and 2011 there was a gradual recovery of the RS economy, the growth rate was 0.8%, while a negative rate of GDP was recorded by -1.0% in 2012. The nominal value of gross domestic product in Republic of Srpska amounted to KM 8.76 billion, the GDP per capita 146 KM. The economic output had shrunk in Q2 and Q3 of 2014 respectively to -1% and 0.1% respectively, while in the Q1 and Q4 of 2014 amounted 0.5% and 1.4%.

GDP GDP per capita

Source: Institute of Statistics of Republic of Srpska

real GDP growth rate

Source: Institute of Statistic of Republic of Srpska

In the GDP structure for 2013, the trade sector had the highest participation with 12.1%, followed by agriculture, hunting and forestry (10.4%), while the share of manufacturing in GDP in 2014 was at 8.7%.

Paticipation of different economy sectors to GDP

Source: Institute of Statistics of Republc of Srpska

Industrial production index

Source: Institute of Statistics of Republic of Srpska

INFLATION IN REPUBLIC OF SRPSKA

In 2014, the average inflation rate or deflation was 1.2%, while, in the previous year that percentage has been at 0%. The inflation rate in Bosnia and Herzegovina amounted to -0.1% in 2013. In 2014 the neighboring countries also recorded deflation, with the exception of Serbia, where consumer prices rose by 2.9%. The average inflation rate in Croatia in 2014 was -0.2%, -0.7% in Montenegro, while that percentage lay in the EU at 0.5% and in Slovenia at 0.2%.

Source: Institute of Statistics of Republic of Srpska

AVERAGE NET INCOME IN REPUBLIC OF SRPSKA

The average wage (net) in the last five years in Republic of Srpska was 809 KM and in this period it increased by 1,052% – from 784 KM in 2010 to 825 KM in 2014.

In 2014 in Bosnia and Herzegovina average wages were in the amount of 830 BAM (during the first half of 2014 821 BAM and 839 BAM in the second half)

Average net income in RS and BiH

Source: Institute of Statistics of Republic of Srpska/Agency for Statistics BiH

EDUCATIONAL STRUCTURE OF THE LABOR FORCE IN REPUBLIC OF SRPSKA

The educational structure of the labor force in Republic of Srpska in september 2014 is as follows:

  •  University degree 23.2%,
  • Two year college degree 4.9%,
  • High school degree 43.7%.
employment structure

Source: Institute of Statistics of Republic of Srpska

FOREIGN TRADE OF REPUBLIC OF SRPSKA

The foreign trade volume of Republic of Srpska in the period from 2010 to 2014 grew at an annual average rate of 8.14%. The year 2014 recorded an increase in foreign trade volume by 7% compared to 2013. In the period from 2010 to 2014, the imports increased from 4 to 4.95 billion KM or 22%. Exports rose in the same period by 1.2 times, from 2.17 to 2.69 billion KM or 23.7%. The import coverage during the period increased slightly, from 53.7% to 54.5%.

Foreign trade in RS 2010-2014

Source: Institute of Statistics of Republic of Srpska

Leading trading partner RS according to FT volume 2014

Source: Institute of Statistics of Republic of Srpska

The most important export market for Republic of Srpska is the EU, where goods were marketed with a total value of 1.9 billion KM or 70.9% of total exports in 2014. The imports from the EU account for 40.3% of total imports of Republic of Srpska. The main export goods are artificial corundum, electricity, processed wood, shoe parts, furniture (parts), petroleum … The main imported goods are oil and oil products, medicines, shoe parts, corn, ironware …

leading export trading partners 2014

Source: Institute of Statistics of Republic of Srpska