Banja Luka - Economy

Economy

Although the city itself was not directly affected by the Bosnian war in the early 1990s, its economy was. For four years, Banja Luka fell behind the world in key areas such as technology, resulting in a rather stagnant economy. However, in recent years, the financial services sector has gained in importance in the city. In 2002, the trading began on the newly established Banja Luka Stock Exchange. The number of companies listed, the trading volume and the number of investors have increased significantly. A number of big companies such as Telekom Srpske, Rafinerija ulja Modriča, Banjalučka Pivara and Vitaminka are all listed on the exchange and are traded regularly. Investors, apart from those from Slovenia, Croatia and Serbia, now include a number of investment funds from the EU, and from Norway, USA, Japan and China.

A number of financial services regulators, such as the Republika Srpska Securities Commission and the RS Banking Agency are headquartered in Banja Luka. This, along with the fact that some of the major banks in Bosnia, the Deposit Insurance Agency and the Value-added tax (VAT) Authority are all based in the city, has helped Banja Luka establish itself as a major financial centre of the country.

In 1981 Banja Luka's GDP per capita was 97% of the Yugoslav average.