Economy of Sarajevo
Encyclopedia
Sarajevo
is economically one of the strongest regions of Bosnia and Herzegovina. Like many other major cities, its economy
is largely based on industries such as manufacturing and tourism. As the center of various levels of area politics, many Sarajevo citizens also work in government. A number of local and international companies are present in the city and contribute to its economic health.
, as well as increased international investment. During the Siege of Sarajevo
, the Bosnian Serb forces often targeted structures key to the city’s economic health, including the headquarters of companies and many services and public utilities. Since then, the Sarajevo economy has made tremendous progress, significantly better than its post-war state in 1996.
Sarajevo's manufacturing deals with a wide array of products. This includes production of Foods and Beverages, textiles, furniture
, automobiles, pharmaceuticals, and metalworking
. Sarajevo companies also produce unique brands of alcohol
, and cigarette
s.
According to Sarajevo Canton statistics, the greater Sarajevo area in 2002 had a work force of 278,341. 86,012 (30.6%) of these are, on average, actually employed. Of these 86,012, some 37,253, or 43,3%, are women. The largest number of people are employed in industry (19.4%), trade (12.9%), transport (9.9%),and education (8.7%). The largest concentration of jobs is in Centar municipality (34.5%),and Novo Sarajevo (20.8%).
In 2002 the total export for the greater Sarajevo region was worth about 259,569,000KM
. This was an increase of 21.9% from the previous year. Most of Sarajevo's exports (28.2%) head to Germany
, with Great Britain
following behind at 16.8% and Serbia and Montenegro
thirds with 12.8%. The largest amount of imported goods come from Germany, at 15.8%. With a worth of total import at about 1,322,585,000KM
, the total import is almos 5.1 times the total export.
A variety of important economic institutions are to be found in Sarajevo. The central bank
of Bosnia and Herzegovina is found in the city, as are numerous other independent banks. Overall 19 different banks have their headquarters in Sarajevo. The city also holds the Sarajevo Exchange of securities, Institute for accounting and auditing of the Federation of Bosnia and Herzegovina
, Board for valuable papers of the Federation of Bosnia and Herzegovina, and the Register of valuable papers of the Federation of Bosnia and Herzegovina.
Foreign companies with a foothold in the Sarajevo region include Harris Communications, Brown & Root, and, most notably, Coca Cola. The Bosnian-Malaysian firm Bosmal is also situated in the city. Their main exports are clothing, electrical goods.
Sarajevo
Sarajevo |Bosnia]], surrounded by the Dinaric Alps and situated along the Miljacka River in the heart of Southeastern Europe and the Balkans....
is economically one of the strongest regions of Bosnia and Herzegovina. Like many other major cities, its economy
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
is largely based on industries such as manufacturing and tourism. As the center of various levels of area politics, many Sarajevo citizens also work in government. A number of local and international companies are present in the city and contribute to its economic health.
Overview
Sarajevo's economy reached its peak in the 1980s, thanks in large part to the culmination of several decades of industrial development and a tourist boom following the OlympicsOlympic Games
The Olympic Games is a major international event featuring summer and winter sports, in which thousands of athletes participate in a variety of competitions. The Olympic Games have come to be regarded as the world’s foremost sports competition where more than 200 nations participate...
, as well as increased international investment. During the Siege of Sarajevo
Siege of Sarajevo
The Siege of Sarajevo is the longest siege of a capital city in the history of modern warfare. Serb forces of the Republika Srpska and the Yugoslav People's Army besieged Sarajevo, the capital city of Bosnia and Herzegovina, from 5 April 1992 to 29 February 1996 during the Bosnian War.After Bosnia...
, the Bosnian Serb forces often targeted structures key to the city’s economic health, including the headquarters of companies and many services and public utilities. Since then, the Sarajevo economy has made tremendous progress, significantly better than its post-war state in 1996.
Sarajevo's manufacturing deals with a wide array of products. This includes production of Foods and Beverages, textiles, furniture
Furniture
Furniture is the mass noun for the movable objects intended to support various human activities such as seating and sleeping in beds, to hold objects at a convenient height for work using horizontal surfaces above the ground, or to store things...
, automobiles, pharmaceuticals, and metalworking
Metalworking
Metalworking is the process of working with metals to create individual parts, assemblies, or large scale structures. The term covers a wide range of work from large ships and bridges to precise engine parts and delicate jewelry. It therefore includes a correspondingly wide range of skills,...
. Sarajevo companies also produce unique brands of alcohol
Alcohol
In chemistry, an alcohol is an organic compound in which the hydroxy functional group is bound to a carbon atom. In particular, this carbon center should be saturated, having single bonds to three other atoms....
, and cigarette
Cigarette
A cigarette is a small roll of finely cut tobacco leaves wrapped in a cylinder of thin paper for smoking. The cigarette is ignited at one end and allowed to smoulder; its smoke is inhaled from the other end, which is held in or to the mouth and in some cases a cigarette holder may be used as well...
s.
According to Sarajevo Canton statistics, the greater Sarajevo area in 2002 had a work force of 278,341. 86,012 (30.6%) of these are, on average, actually employed. Of these 86,012, some 37,253, or 43,3%, are women. The largest number of people are employed in industry (19.4%), trade (12.9%), transport (9.9%),and education (8.7%). The largest concentration of jobs is in Centar municipality (34.5%),and Novo Sarajevo (20.8%).
In 2002 the total export for the greater Sarajevo region was worth about 259,569,000KM
Bosnia and Herzegovina convertible mark
The Bosnia and Herzegovina convertible mark is the currency of Bosnia and Herzegovina. It is divided into 100 fenings...
. This was an increase of 21.9% from the previous year. Most of Sarajevo's exports (28.2%) head to Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, with Great Britain
Great Britain
Great Britain or Britain is an island situated to the northwest of Continental Europe. It is the ninth largest island in the world, and the largest European island, as well as the largest of the British Isles...
following behind at 16.8% and Serbia and Montenegro
Serbia and Montenegro
Serbia and Montenegro was a country in southeastern Europe, formed from two former republics of the Socialist Federal Republic of Yugoslavia : Serbia and Montenegro. Following the breakup of Yugoslavia, it was established in 1992 as a federation called the Federal Republic of Yugoslavia...
thirds with 12.8%. The largest amount of imported goods come from Germany, at 15.8%. With a worth of total import at about 1,322,585,000KM
Bosnia and Herzegovina convertible mark
The Bosnia and Herzegovina convertible mark is the currency of Bosnia and Herzegovina. It is divided into 100 fenings...
, the total import is almos 5.1 times the total export.
A variety of important economic institutions are to be found in Sarajevo. The central bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
of Bosnia and Herzegovina is found in the city, as are numerous other independent banks. Overall 19 different banks have their headquarters in Sarajevo. The city also holds the Sarajevo Exchange of securities, Institute for accounting and auditing of the Federation of Bosnia and Herzegovina
Federation of Bosnia and Herzegovina
The Federation of Bosnia and Herzegovina is one of the two political entities that compose the sovereign country of Bosnia and Herzegovina . The two entities are delineated by the Inter-Entity Boundary Line...
, Board for valuable papers of the Federation of Bosnia and Herzegovina, and the Register of valuable papers of the Federation of Bosnia and Herzegovina.
Foreign companies with a foothold in the Sarajevo region include Harris Communications, Brown & Root, and, most notably, Coca Cola. The Bosnian-Malaysian firm Bosmal is also situated in the city. Their main exports are clothing, electrical goods.
Major companies
Major companies based in Sarajevo include:- B&H AirlinesB&H AirlinesB&H Airlines is an airline with its head office in the Energoinvest Building in Sarajevo, Bosnia and Herzegovina, operating scheduled services, charter passenger services and small cargo services...
- BH TelecomBH TelecomBH Telecom is a leading telecommunication company in Bosnia and Herzegovina.It was established in 1992, and was the first company in Bosnia and Herzegovina to provide GSM, 3G, IPTV, and many other services...
- Bosmal
- BosnalijekBosnalijekBosnalijek is the largest pharmaceutical company in Bosnia and Herzegovina. The organisation was established in 1951 and employs ~620 workers, out of which more than 50% have university level or higher qualifications. Its product portfolio consists of ~180 products. The company continues investment...
- CBS Bank
- Dnevni Avaz
- Energoinvest
- EnergopetrolEnergopetrolEnergopetrol is a Bosnian oil company based in Sarajevo. It was founded in the 1960s as a part of the Energoinvest corporation. Its logo includes the orange letters "EP" in a serif font surrounded by an orange circle....
- OslobodenjeOslobodenjeOslobođenje is a popular newspaper in Bosnia and Herzegovina based in the capital city Sarajevo.-History:Oslobođenje was founded on August 30, 1943 in Donja Trnova near Ugljevik, as an anti-Nazi newspaper...
- Fabrika Duhana SarajevoSarajevo Tobacco FactorySarajevo Tobacco Factory is a cigarette-producing factory in Bosnia and Herzegovina. Its headquarters is in Sarajevo with branches in Bihać, Tuzla, Čitluk and Banja Luka as well as in Skopje in the Republic of Macedonia and Belgrade in Serbia...
(Sarajevo Tobacco Factory) - Sarajevska PivaraSarajevska PivaraSarajevska Pivara is a Bosnian brewing company based in Sarajevo.-History:The Sarajevska Pivara opened in 1864 as the first local industry and shortly became one of leading producers in Bosnia, with considerable amounts exported to Montenegro, Dalmatia and Albania...
(Sarajevo Brewery) - UnioninvestUnioninvestUnioninvest is a Bosnian construction and engineering company based in Sarajevo....
- UNITICUNITICThe United Investment and Trading Company , formerly UNIS Holding BiH, is a joint venture company between UNIS Holding and Kuwait Consulting & Investment Co. The company owns and operates the UNITIC Twin Skyscrapers in Sarajevo Bosnia and Herzegovina...
- JP Elektroprivreda BiH
- MAL - Montaza Aluminijskih Fasada
- GP VRANICA d.d.
- KLAS Sarajevo
- Zrak Sarajevo
- Unis Pretis