Information on Foreign Direct Investment (FDI) in BiH

(preliminary data for 2019 and 2020 and official data for 2018)

Official data of the Central Bank of BiH (CBBH) on the state and flows of foreign direct investment (FDI) in BiH on an annual basis are published eight months after the end of the reporting year. During the year, provisional, quarterly data are published within FDI and balance of payments flows (with the estimated amount of retained earnings). In addition to the publication of official annual data, previously published data for previous years are revised. This year, the Central Bank, due to known, extraordinary circumstances, is late with the publication of new data on FDI, and the information was prepared in accordance with, at this moment, available data on foreign direct investment in BiH, which are:

§ Preliminary data for the first quarter of 2020

§ Preliminary data for 2019

§ FDI balance by December 31, 2018

According to preliminary data from the Central Bank of BiH, in the first quarter of 2020, inflows of foreign direct investment according to the statistics of the balance of payments of BiH (net financial liabilities) amounted to 243.2 million KM. There is a noticeable trend of reduced inflows of direct investment in BiH in the first quarters, which is recorded for the third year in a row. A decrease of 3.4% was registered in the first quarter of 2020, when the full effects of the pandemic were not yet felt.

According to estimates and announcements of relevant international organizations, foreign direct investment in the coming period (2020/2021) would have a decline of up to 40% globally, which will certainly have a negative impact on the inflow of foreign direct investment in BiH.

In July 2020, the Central Bank of BiH published the "Annual Report for 2019" stating that the inflow on the basis of foreign direct investment in 2019 amounted to KM 939.4 million or EUR 480.3 million (within the balance of payments), and there was an increase in inflows by 12.1% on an annual basis. Although a significant increase was recorded, foreign direct investment in the previous year remained far below the level of inflows recorded in the period before the financial crisis. Until the publication of the official data of the CBBH for 2019, for more detailed analyzes of foreign direct investment (by countries, investment activities, components), the available preliminary data for FDI flows in the period January - September 2019 are used. Foreign direct investments in this period amounted to KM 861.1 million or EUR 440.3 million and were higher by 29.0% compared to the same period last year, noting that preliminary data are subject to subsequent audits.

In the first nine months of 2019, investments in the amount of over 20 million KM were registered from: Russia (278.3 million KM), Croatia (173.3 million KM), Netherlands (79.8 million KM), Italy (64.7 million KM), Great Britain (61.4 million KM), Austria (57.2 million KM) and Germany (33.6 million KM).

Activities (NACE Rev.2) within which the most FDI (over 50 million KM) were registered in BiH, for the first nine months of 2019 are: Financial service activities, except insurance and pension funds (195.0 million KM), Wholesale except trade of motor vehicles and motorcycles (72.6 million KM), Production and supply of electricity, gas, steam and air conditioning (52.2 million KM)

Considering that in accordance with statistical practice, in addition to the publication of annual data, revised amounts for previous years can be expected, so the indicators of increasing foreign investment can be revised, but currently represent a positive indicator. Based on currently available preliminary data, both in the balance of payments and in FDI flows, it is expected that 2019 will be the most successful in the previous ten-year period in terms of total FDI, assuming that the final data of the Central Bank of BiH do not bring significant changes and negative surprises.

Data on the cumulative amount of FDI are available as of 2018. The balance of foreign direct investment (FDI) in Bosnia and Herzegovina as of 31 December 2018 amounts to KM 14,296 million or KM 14.3 billion (EUR 7.309 million or EUR 7.3 billion).

According to the total amounts, as of December 2018, the countries that have invested the most in BiH are: Austria, Croatia, Serbia and Slovenia. In the total state of FDI in the period May 1994 - December 2018, most foreign capital was invested in the production of 34%, the banking sector 25% and telecommunications 12%.


  • Kakanj cement
  • Telemach
  • Bosnaplod
  • YTONG
  • Phoenix
  • British American Tobacco
  • FCL
  • CMS-RRH
  • SHP Celex
  • Gazprom
  • Meggle
  • EFT
  • Natron - hayat
  • Bosna Bank Internations
  • Saga NFG d.o.o.
  • DDC
  • SKF
  • Sarajevo City Center
  • ProCredit Bank
  • Karanovic/partners
  • UniCredit Bank
  • BANJALUČKA PIVARA AD
  • Mtel
  • Dimitrijević & Partners
  • Sparkasse
  • PWC
  • Hold INA
  • Volkswagen
  • MOP
  • Hotel Bristol
  • Maric And Co
  • Eastern Mining
  • Philip Morris
  • SR Investment
  • Marbo
  • Hypo Aple Adria
  • McCann
  • manpowergroup
  • Arcelor Mittal
  • Sisecam
  • Aljazeera Balkans
  • Raiffeisen Bank
  • VIA MEDIA
  • Mastercard
  • SHAD Invest
  • infobip
  • hepok
  • Violeta
  • GOPA Worldwide Consultants
  • LRC
  • Messer
  • Eco Energy
  • Europian Bank
  • Studen Holding (Bimal)
  • Network
  • JTI
  • AL Shiddi
  • Carmeuse
  • Coca-Cola HBC Adria
  • WOLF THEISS
  • ALBA