Economy of Sarajevo

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.

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 Olympics, 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 cigarettes.

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 almost 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.

Major companies

Major companies based in Sarajevo include:

References

  1. ↑ "Headquarters." B&H Airlines. Retrieved on 10 March 2010.
This article is issued from Wikipedia - version of the Tuesday, August 04, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.