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Economy of Bosnia and Herzegovina vs Kuwait compared: GDP & Debt

Updated on by Georank team

Bosnia and Herzegovina has a GDP of $29.6B compared to $160B for Kuwait, ranking 111/197 and 59/197 by economy size, respectively.

Bosnia and Herzegovina has $8.74B in government debt (29.5% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

Bosnia and Herzegovina vs Kuwait GDP by year

Bosnia and Herzegovina
Kuwait
1x
Year GDP, current $
Bosnia Kuwait
2024 $29,613,572,023 $160,227,273,053
2023 $27,592,361,498 $165,384,407,116
2022 $24,534,663,636 $183,502,046,694
2021 $23,672,712,121 $148,350,671,489
2020 $20,226,038,370 $111,045,470,606
2019 $20,482,608,984 $140,856,394,861
2018 $20,484,058,033 $138,646,316,351
2017 $18,326,373,136 $120,687,539,806
2016 $17,116,926,554 $109,406,674,125
2015 $16,404,348,361 $114,585,555,689
2014 $18,558,734,107 $162,650,450,685
2013 $18,179,109,209 $174,168,116,535
2012 $17,226,735,996 $174,047,662,680
2011 $18,644,233,537 $154,039,231,246
2010 $17,176,315,804 $115,416,245,242
2009 $17,613,949,091 $105,968,691,905
2008 $19,112,796,623 $147,379,737,230
2007 $15,778,734,264 $114,634,043,362
2006 $12,864,841,906 $101,557,330,723
2005 $11,222,796,337 $80,798,630,137
2004 $10,156,541,221 $59,439,090,601
2003 $8,498,894,359 $47,874,582,232
2002 $6,728,220,983 $38,135,788,414
2001 $5,800,615,375 $34,889,559,870
2000 $5,567,772,769 $37,718,743,480
1999 $4,686,256,363 $30,122,365,849
1998 $4,116,774,301 $25,943,705,784
1997 $3,671,909,673 $30,350,190,704
1996 $2,786,045,322 $31,492,373,309
1995 $1,866,572,954 $27,186,980,647
1994 $1,255,802,469 $24,848,483,838
1993 $3,630,668,950 $23,941,391,391
1992 $4,735,044,707 $19,858,555,215
1991 $6,122,959,184 $11,009,993,703
1990 $7,753,478,261 $18,427,777,778
1989 - $24,313,855,653
1988 - $20,690,322,153
1987 - $22,368,704,134
1986 - $17,903,989,745
1985 - $21,445,970,614
1984 - $21,700,082,753
1983 - $20,871,081,080
1982 - $21,577,153,356
1981 - $25,058,020,338
1980 - $28,638,868,356
1979 - $24,749,063,922
1978 - $15,503,557,496
1977 - $14,137,406,741
1976 - $13,132,252,802
1975 - $12,022,811,621
1974 - $13,006,948,296
1973 - $5,408,804,607
1972 - $4,450,537,925
1971 - $3,880,392,195
1970 - $2,873,638,851
1969 - $2,769,198,892
1968 - $2,662,798,935
1967 - $2,441,599,023
1966 - $2,391,199,044
1965 - $2,097,199,161
1964 - $2,071,668,533
1963 - $1,900,895,857
1962 - $1,828,107,503

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

GeoRank.org/economy/bosnia-and-herzegovina/kuwait | CC BY

GDP per capita in Bosnia and Herzegovina vs Kuwait by year

Bosnia and Herzegovina
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bosnia Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $9,359 $25,043 $32,718 $52,444
2023 $8,663 $23,376 $34,076 $53,025
2022 $7,656 $21,651 $39,982 $55,043
2021 $7,295 $18,287 $34,019 $50,652
2020 $6,130 $16,370 $25,236 $41,462
2019 $6,122 $16,429 $31,708 $50,703
2018 $6,048 $14,859 $32,068 $51,371
2017 $5,345 $13,627 $29,048 $46,566
2016 $4,929 $12,899 $27,324 $41,862
2015 $4,662 $11,845 $29,882 $45,267
2014 $5,206 $11,168 $44,369 $68,337
2013 $5,035 $10,808 $49,651 $76,813
2012 $4,694 $10,121 $52,155 $82,090
2011 $4,983 $9,761 $49,170 $79,037
2010 $4,506 $9,086 $39,212 $75,184
2009 $4,540 $8,698 $37,907 $80,110
2008 $4,842 $8,587 $55,585 $90,337
2007 $3,931 $7,686 $45,709 $91,435
2006 $3,166 $6,869 $42,947 $89,075
2005 $2,740 $5,956 $36,123 $84,968
2004 $2,453 $5,407 $27,552 $77,227
2003 $2,034 $4,917 $22,691 $69,752
2002 $1,607 $4,665 $18,513 $59,713
2001 $1,388 $4,307 $17,374 $58,553
2000 $1,338 $4,148 $19,296 $58,703
1999 $1,135 $3,875 $15,854 $56,406
1998 $1,007 $3,524 $14,067 $58,344
1997 $914 $3,041 $16,977 $57,420
1996 $719 $2,269 $18,201 $56,913
1995 $502 $1,507 $16,168 $57,163
1994 $337 $1,269 $14,930 $53,946
1993 $930 $1,067 $14,318 $48,482
1992 $1,118 $982 $12,146 $36,149
1991 $1,373 $975 $8,147 $23,390
1990 $1,743 $1,043 $10,938 $30,763
1989 - - $10,965 -
1988 - - $9,692 -
1987 - - $10,896 -
1986 - - $9,077 -
1985 - - $11,322 -
1984 - - $11,919 -
1983 - - $11,965 -
1982 - - $12,979 -
1981 - - $15,825 -
1980 - - $19,032 -
1979 - - $17,386 -
1978 - - $11,567 -
1977 - - $11,238 -
1976 - - $11,141 -
1975 - - $10,882 -
1974 - - $12,527 -
1973 - - $5,532 -
1972 - - $4,836 -
1971 - - $4,486 -
1970 - - $3,552 -
1969 - - $3,695 -
1968 - - $3,872 -
1967 - - $3,887 -
1966 - - $4,176 -
1965 - - $4,024 -
1964 - - $4,379 -
1963 - - $4,445 -
1962 - - $4,748 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

GeoRank.org/economy/bosnia-and-herzegovina/kuwait | CC BY

Bosnia and Herzegovina's GDP per capita is $9,359, ranking 87/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), Bosnia and Herzegovina ranks 83rd at $25,043, while Kuwait ranks 40th at $52,444.

Economic indicators

Bosnia Kuwait
Gross domestic product
$29.6B
2024
$160B
2024
GDP rank
111/197
2024
59/197
2024
GDP growth
2.97%
2023-2024
-2.56%
2023-2024
GDP per capita
$9,359
2024
$32,718
2024
GDP per capita rank
87/197
2024
37/197
2024
GDP per capita, PPP
$25,043
2024
$52,444
2024
GDP per capita PPP rank
83/197
2024
40/197
2024
Government debt
$8.74B
2024
$4.68B
2024
Debt-to-GDP ratio
29.5%
2024
2.92%
2024
Government debt per person
$2,763
2024
$956
2024
Government debt per person rank
107/185
2024
143/185
2024
Average annual personal income after taxes
$8,501
2026
$23,828
2026
Market capitalization of domestic companies n/a
$141B
2024
Income share by richest 10%
25.1%
2011
n/a
Income share by poorest 10%
2.9%
2011
n/a
Government expenditure, % of GDP
43.3%
2024
50.4%
2024
Consumer prices inflation
1.7%
2023-2024
2.9%
2023-2024
Central bank interest rate n/a
3.5%
2025
Unemployment rate
10.7%
2024
2.16%
2016
Population
3116111
5100145

Spending and national debt comparison by year

Bosnia and Herzegovina
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
Bosnia Kuwait
Government spending Government debt Government spending Government debt
2024 43.3% 29.5% 50.4% 2.92%
2023 41.7% 29% 48.3% 3.13%
2022 39.4% 31.2% 39.6% 2.95%
2021 40.6% 35.8% 48.3% 7.2%
2020 45.4% 37.2% 62.9% 10.2%
2019 39.9% 32.8% 50.3% 10.5%
2018 40.4% 34.5% 51.1% 14.3%
2017 40% 38.6% 51.9% 19.6%
2016 41.5% 44.9% 54.1% 9.88%
2015 42.7% 46.4% 55.4% 4.6%
2014 46.2% 47.1% 45% 3.43%
2013 44.5% 43.8% 38.4% 3.09%
2012 46.9% 43.6% 38.2% 3.6%
2011 46.4% 40.9% 39.7% 4.64%
2010 48.7% 42.2% 45.5% 6.16%
2009 49% 36.4% 42.9% 6.65%
2008 48.4% 30.3% 40.9% 5.38%
2007 45.2% 18.2% 30.4% 7.05%
2006 44.2% 20.6% 32.3% 7.79%
2005 44.5% 24.9% 28.8% 10.2%
2004 45.6% 25.5% 35.3% 13.9%
2003 47.3% 27.6% 38.2% 17.2%
2002 47.4% 31.1% 42.8% 21.3%
2001 50.2% 35.1% 41.4% 23%
2000 56.2% 34.6% 29.9% 21.4%
1999 57.5% 56% 44.5% 25.5%
1998 54.4% 54.4% 51.7% 25.6%
1997 - - 43.8% 24.3%
1996 - - 42.8% 26.5%
1995 - - 52% 34.9%
1994 - - 57.8% 37.7%
1993 - - 58.2% 28.8%
1992 - - 77.6% 27.9%
1991 - - 208.9% 45.3%
1990 - - 122.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bosnia-and-herzegovina/kuwait | CC BY

In 2024, Bosnia and Herzegovina's government spending was $12.8B, accounting for 43.3% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 29.5% in Bosnia and Herzegovina and 2.92% in Kuwait, ranking 159/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
Bosnia and Herzegovina

Kuwait
1x
Year Deficit/surplus, % of GDP
Bosnia Kuwait
2024 -1.88% 23.8%
2023 -1.67% 28.2%
2022 0.15% 30%
2021 -0.18% 9.98%
2020 -4.5% 0.14%
2019 1.37% 13%
2018 1.63% 17.5%
2017 1.79% 15.3%
2016 0.34% 13.1%
2015 -0.19% 16.6%
2014 -2.87% 30%
2013 -1.28% 40.6%
2012 -2.68% 40.7%
2011 -2.73% 38.8%
2010 -4.06% 31.9%
2009 -5.34% 31.3%
2008 -3.82% 21.3%
2007 0.17% 37.1%
2006 2.08% 28%
2005 0.74% 38.9%
2004 -0.18% 32.5%
2003 -0.44% 27.2%
2002 -2.99% 31%
2001 -3.44% 45.2%
2000 -4.63% 52.5%
1999 -2.78% 28.2%
1998 -0.98% 19.5%
1997 - 29.5%
1996 - 24.3%
1995 - 11.7%
1994 - 1.76%
1993 - -3.12%
1992 - -28.1%
1991 - -145%
1990 - -50%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bosnia-and-herzegovina/kuwait | CC BY

In 2024, Bosnia and Herzegovina's government deficit, the difference between spending and revenue, was $557M, equivalent to 1.88% of GDP. This compares to Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 27 years, Bosnia and Herzegovina recorded a fiscal deficit in 19 of those years, while Kuwait ran a deficit in 0 years. On average, Bosnia and Herzegovina posted an annual deficit equal to 1.42% of GDP, compared to surplus of 27.5% of GDP for Kuwait.

Inflation comparison by year

Inflation
Bosnia and Herzegovina

Kuwait
1x
Year Consumer prices inflation
Bosnia Kuwait
2024 1.7% 2.9%
2023 6.1% 3.64%
2022 14% 3.98%
2021 2% 3.42%
2020 -1.1% 2.1%
2019 0.6% 1.09%
2018 1.4% 0.54%
2017 0.8% 2.17%
2016 -1.6% 3.2%
2015 -1% 3.27%
2014 -0.9% 2.91%
2013 -0.1% 2.68%
2012 2.1% 3.26%
2011 4% 4.84%
2010 2.1% 4.5%
2009 -0.4% 4.61%
2008 7.4% 10.6%
2007 1.5% 5.48%
2006 6.1% 3.06%
2005 3.6% 4.14%
2004 0.3% 1.25%
2003 0.5% 0.96%
2002 0.3% 0.89%
2001 3.2% 1.3%
2000 5% 1.81%
1999 2.8% 2.99%
1998 -0.3% 0.13%
1997 5.7% 0.68%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/bosnia-and-herzegovina/kuwait | CC BY

Over the past 28 years, Bosnia and Herzegovina has recorded an average annual inflation rate of 2.35%, compared with 2.94% in Kuwait. In 2024, inflation was 1.7% in Bosnia and Herzegovina and 2.9% in Kuwait.

Top exports between countries

Bosnia
Export category Export value
Weapons & explosives $750K
Wood & paper products $714K
Chemicals & pharma $368K
Raw materials & minerals $127K
Raw agricultural goods $74K
Machinery & equipment $56K
Processed food, beverages & tobacco $53K
Textiles & consumer goods $51K
Animal & marine products $5K
Miscellaneous $1K
Kuwait
Export category Export value
Textiles & consumer goods $82K
Machinery & equipment $2K
Miscellaneous $2K

Balance of trade

Bosnia Kuwait
Current account balance
-$1.03B
2024
$46.7B
2024
Current account balance ranking
123/190
2024
15/190
2024
Current account balance, % of GDP
-3.47%
2024
+29.1%
2024
Goods imports
$14.8B
2024
$33.4B
2024
Goods exports
$8.36B
2024
$77.5B
2024
Service imports
$1.27B
2024
$28.1B
2024
Service exports
$3.74B
2024
$12.2B
2024
Imports of goods and services, % of GDP
54.3%
2024
38.3%
2023
Exports of goods and services, % of GDP
40.9%
2024
57.7%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Bosnia Kuwait
Economic freedom 63.1 59.9
Economic freedom ranking 83/197 100/197
Property rights 46.9 42
Government integrity 36.8 47.9
Judicial effectiveness 36.1 43.4
Tax burden 93.9 97.7
Government spending 48.4 36.2
Fiscal health 96.2 99.9
Business freedom 65.1 57.4
Labor freedom 62.7 49.2
Monetary freedom 77.5 68.7
Trade freedom 69 75.8
Investment freedom 65 50
Financial freedom 60 50

Economic freedom comparison by year

Bosnia and Herzegovina
Kuwait
1x
Year Economic freedom index
Bosnia Kuwait
2026 63.1 59.9
2025 63.5 59.9
2024 62 58.5
2023 62.9 56.7
2022 63.4 58.3
2021 62.9 64.1
2020 62.6 63.2
2019 61.9 60.8
2018 61.4 62.2
2017 60.2 65.1
2016 58.6 62.7
2015 59 62.5
2014 58.4 62.3
2013 57.3 63.1
2012 57.3 62.5
2011 57.5 64.9
2010 56.2 67.7
2009 53.1 65.6
2008 53.9 68.1
2007 54.4 66.4
2006 55.6 66.5
2005 48.8 64.6
2004 44.7 63.6
2003 40.6 66.7
2002 37.4 65.4
2001 36.6 68.2
2000 45.1 69.7
1999 29.4 69.5
1998 29.4 66.3
1997 - 64.8
1996 - 66.1

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/bosnia-and-herzegovina/kuwait | CC BY

The Economic Freedom Index for Bosnia and Herzegovina is 63.1, ranking 83/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bosnia Kuwait
Services, % of GDP
56.6%
2024
55.9%
2024
Industry, % of GDP
22.4%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
4.53%
2024
0.49%
2024
GNI, Atlas method
$27.8B
2024
$200B
2024
GNI per capita, PPP
$24,990
2024
$63,270
2024
Total reserves including gold
$9.42B
2024
$50.7B
2024
Total reserves ranking
79/177
2024
41/177
2024
Net foreign direct investment
-$885M
2024
$9.71B
2024
Net inflows of foreign direct investment
$1B
2024
$615M
2024
Net outflows of foreign direct investment
$119M
2024
$10.3B
2024
Servicing debt to the IMF, % of GNI
4.93%
2024
n/a
Poverty at national poverty lines
16.9%
2015
n/a
Gross capital formation, % of GDP
27.5%
2024
17.7%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/bosnia-and-herzegovina/kuwait | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2022–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.