Introduction: Bosnia and Herzegovina's Economic Landscape in 2025Bosnia and Herzegovina (BiH) is experiencing a steady economic recovery in 2025, with the World Bank projecting a GDP growth of 2.7%, building on the momentum from previous years. This growth is driven by key sectors such as services (including retail and telecommunications), energy, manufacturing, and an emerging tourism and tech startup scene. Despite challenges like political complexities and infrastructure limitations, BiH's economy benefits from its rich natural resources in metals, energy, agriculture, and timber, as well as increasing foreign investments.The country's transitional economy, with a nominal GDP expected to reach around $29.86 billion by year-end, relies heavily on exports in metals, energy, textiles, and furniture. In this blog post, we'll delve into the most successful companies in BiH for 2025, based on recent revenue data, profitability, market impact, and growth potential. These firms not only dominate their sectors but also contribute significantly to employment, innovation, and regional stability. We'll rank the top performers primarily by revenue (drawing from 2023-2024 figures as the latest comprehensive benchmarks, adjusted for 2025 trends), and highlight emerging players in the startup ecosystem.Top Sectors Fueling Success in 2025Before diving into individual companies, let's overview the powerhouse sectors:
These rankings draw from comprehensive industry analyses, with revenues reflecting 2023 data as the most recent holistic snapshot. In 2025, many are adapting to global trends like sustainability and digitalization, with total revenues for top firms exceeding €5 billion collectively.Emerging Stars: Startups and Tech Innovators in 2025While traditional giants dominate, BiH's startup scene is booming, with over 1,000 ventures raising $167 million in funding. Standouts include:
- Retail and Wholesale Trade: Accounting for a large portion of GDP, this sector thrives on domestic consumption and exports.
- Energy and Utilities: BiH's abundant hydroelectric and coal resources make this a cornerstone industry.
- Manufacturing: From steel production to food processing, manufacturing drives industrial output.
- Telecommunications and IT: Growing rapidly with digital transformation and startups.
- Tourism and Services: Emerging as a diversification driver post-pandemic.
Rank | Company Name | Sector | Headquarters | Approximate Revenue (Latest Available, €) | Key Achievements and 2025 Outlook |
|---|---|---|---|---|---|
1 | Bingo d.o.o. Tuzla | Retail (Food Retailers & Wholesalers) | Tuzla | 1.087 Billion | As BiH's largest supermarket chain, Bingo employs thousands and dominates wholesale/retail trade. In 2025, it's expanding digital sales and sustainability initiatives, contributing to sector growth amid rising consumer spending. |
2 | Holdina d.o.o. Sarajevo | Oil & Gas (Specialty Retailers) | Sarajevo | 719 Million | Part of the INA Group, Holdina focuses on fuel distribution and energy retail. With BiH's energy sector projected to grow, it's investing in green transitions for 2025, enhancing profitability through efficiency. |
3 | JP Elektroprivreda BiH d.d. Sarajevo | Energy (Utilities) | Sarajevo | 606 Million | A state-owned power utility, it leads in electricity generation from hydro and coal. In 2025, renewable energy projects position it for EU compliance and export growth, making it a pillar of BiH's infrastructure. |
4 | Optima Grupa d.o.o. Banja Luka | Oil & Gas | Banja Luka | 567 Million | Specializing in petroleum products, Optima benefits from regional trade. 2025 outlook includes diversification into biofuels, amid a 2.7% national growth forecast. |
5 | ArcelorMittal Zenica d.o.o. | Manufacturing (Steel) | Zenica | 522 Million | Global steel giant's BiH arm, focusing on metal exports. Despite market volatility, 2025 sees recovery through sustainable production and EU green deals. |
6 | BH Telecom | Telecommunications | Sarajevo | ~400 Million (Estimated) | Leading telecom provider with mobile, internet, and fixed-line services. In 2025, 5G rollout and digital services drive its success in a sector growing with tech adoption. |
7 | m:tel (Telekom Srpske) | Telecommunications | Banja Luka | ~350 Million (Estimated) | Major player in RS entity, offering broadband and TV. Declared highly profitable in recent years; 2025 focuses on fiber optics expansion. |
8 | Bosnalijek | Health Care (Pharmaceuticals) | Sarajevo | ~200 Million (Estimated) | BiH's top pharma firm, exporting medicines regionally. With health sector reforms, 2025 brings R&D investments in generics and biotech. |
9 | Aluminij Mostar | Basic Materials (Aluminum) | Mostar | ~150 Million (Estimated) | Revived aluminum producer; 2025 outlook tied to global metal prices and energy efficiency upgrades. |
10 | Sarajevska Pivara | Consumer Goods (Brewers) | Sarajevo | ~100 Million (Estimated) | Historic brewery exporting beers internationally. Tourism boom in 2025 boosts its consumer goods dominance. |
These rankings draw from comprehensive industry analyses, with revenues reflecting 2023 data as the most recent holistic snapshot. In 2025, many are adapting to global trends like sustainability and digitalization, with total revenues for top firms exceeding €5 billion collectively.Emerging Stars: Startups and Tech Innovators in 2025While traditional giants dominate, BiH's startup scene is booming, with over 1,000 ventures raising $167 million in funding. Standouts include:
- Rolla: A fintech platform revolutionizing payments, ranked highly for investment and growth.
- Adriatic Crypto Exchange: Leading in blockchain, capitalizing on crypto trends.
- SPARK: Education-tech firm fostering entrepreneurship.
- Evolt BiH: Tech company in software and AI, recognized for rapid growth in Deloitte's "Companies to Watch."
Login or create account to leave comments
Comments (0)