The wood sector of Bosnia and Herzegovina has been significantly affected by the negative consequences of the COVID-19 pandemic. During the pandemic period, the companies had a drop in exports of almost all products compared to last year, except for construction carpentry. The biggest drop in exports was in April, while a slight recovery was felt in May, due to the opening of the EU market. Also, imports decreased, as a result of reduced production and exports, but significantly less than exports. The companies mostly held onto employees managed to secure the salaries, and the production continued at a slightly slower pace. Although the companies had a drop in revenue, they were still obliged to pay taxes and contributions in the same amount as before. It is estimated that due to reduced demand in international markets, especially the EU, there is great uncertainty and fear that this year will be very difficult for the wood industry.
Number of companies over the past three years
In 2017, 1,095 companies were registered BiH wood industry, while in 2018 that number increased by 88 companies. Although, in 2019 this number decreased to 1,065.
Types of companies
Of these companies, 57.8% of companies generate revenue of up to half a million BAM, 37.6% of companies up to 5 million BAM, and 4.6% more than 5 million BAM.
Number of employees and average salary
The number of employees in this sector increased in 2018 by 479 compared to the previous one. Even the next year the number of employees continues to increase up to 15,625 employees
The average monthly gross salary of workers in these companies amounted to BAM 974, or EUR 498. This means that workers in the wood industry are paid an average of BAM 6 per hour, or EUR 3 per hour.
|Staff costs||Amount in BAM||Amount in EUR|
|Total salaries cost||182,580,068||93,351,706|
|Number of employees||15,625|
|Yearly salary per employee||11,685||5,975|
|Monthly salary per employee||974||498|
|Daily salary per employee||46||24|
|Hourly fee per employee||6||3|
On the other hand, the monthly revenue per employee amounted to BAM 6,846 or EUR 3,500 The average hourly income per worker is BAM 41 or EUR 21.
|Type of revenue||Amount in BAM||Amount in EUR|
|Revenue per employee in a year||82,150||42,003|
|Monthly revenue per employee||6,846||3,500|
|Daily revenue per employee||326||167|
|Hourly revenue per employee||41||21|
Sales and export revenue
Total sales revenue experienced exponential growth over the past three years. The sales revenue increased in 2018 by BAM 87,503,678. In 2019, sales revenue amounted to BAM 1,283,588,128, which is a decrease of BAM 6,433,776 or 0.5% compared to the previous year. Export revenue in 2018 increased by 3.65%, and in 2019 dropped again by 5.1%.
Top 20 companies by revenue
Top 10 companies share in industry by revenue
Wood industry companies in 2019 together achieved a total profit of BAM 72,800,219, which is an increase of 62.3% compared to BAM 44,853,629 two years earlier, in 2017.