Bosnia’s industrial production growth accelerates in April

Bosnia’s industrial production growth accelerates in April
By bne IntelliNews June 5, 2017

Bosnia & Herzegovina’s industrial output increased 4.4% y/y in April, significantly improving from the 0.1% y/y expansion in March as the performance of the utilities sector improved sharply, according to working-day adjusted data reported by the country’s statistics office. In seasonally adjusted m/m terms, industrial production rose 0.7% in April, after falling by a revised 0.2% m/m in March.

Bosnia’s industrial output rose by 4.3% y/y in 2016, supporting the country’s economic growth. In 2017, the sector is also expected to make a significant contribution to GDP.

Manufacturing production slowed its annual growth to 1.7% in April from 3.1% in March. Within manufacturing, the strongest y/y increase took place in the manufacture of computer, electronic and optical products (up 123.9%), while the deepest decline was reported for furniture production (down 30.3%).

Mining production rose by 7.8% y/y in April, cooling from an 8.4% y/y rise in March. Output increased y/y in mining of coal and lignite (up 13.2% y/y) and mining metal ores (up 6.5%), while other mining and quarrying posted a 10% y/y decline.

Utilities output turned to a 5.5% y/y rise in April, after declining by 10.8% y/y in March.

Across the main industrial groups, production increased y/y in energy (up 12.6%), capital goods (up 11.1%) and consumer non-durables (up 0.9%). It declined in consumer durables (down 31.5%) and intermediate goods (down 0.3%).