Bosnia & Herzegovina’s economy grew by 1.7% y/y in the second quarter of 2017, slowing from a revised 2.8% annual increase in the previous three months, the country’s statistics office reported on October 5.
The government has projected that GDP will expand by 3.4% this year. The International Monetary Fund (IMF) has estimated this year’s growth at 3%, while the European Bank for Reconstruction and Development expects that GDP will expand by 2.5%. The World Bank has projected it at 3.2%.
GDP in the second quarter of 2017 was supported mainly by mining and quarrying (up 9.7% y/y), arts, entertainment and recreation (up 8.9% y/y) and wholesale and retail trade (up 6.2% y/y). In seasonally adjusted terms, second-quarter GDP moved up 0.5% q/q, after staying flat q/q in the previous three months.
The agricultural sector turned to a 7.8% y/y fall in Q2, after rising by a revised 4.3% y/y in Q1. The industrial sector expanded by 2.9% y/y, after posting a revised 3.1% y/y growth in Q1. The manufacturing sector slowed its annual growth to 3.1% y/y, after moving up by a revised 4.4% y/y in the first quarter.