Bosnia’s industrial production growth accelerates in August

Bosnia’s industrial production growth accelerates in August
By bne IntelliNews September 27, 2017

Bosnia & Herzegovina’s industrial output increased 7.1% y/y in August, improving from its 5.6% y/y growth in July thanks to the better performance of the manufacturing sector, according to working-day adjusted data reported by the country’s statistics office on September 26. In seasonally adjusted m/m terms, industrial production rose 0.8% in August, the same as in July.

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 improved its annual growth to 9.3% in August from 8.5% in July. Within manufacturing, the strongest y/y increase took place in the manufacture of computer, electronic and optical products (up 298.6%), while the deepest decline was reported for other non-metallic mineral products (down 14.8%).

Mining production rose by 0.6% y/y in August, worsening from a 5.5% y/y rise in July. Output increased y/y in other mining and quarrying (up 16.8% y/y), while it declined in mining of coal and lignite (down 2.6% y/y) and in mining of metal ores (down 1.1% y/y).

Utilities output turned to a 0.6% y/y fall in August from a 2.1% annual rise in July.

Across the main industrial groups, production increased y/y in consumer non-durables (up 10.2%), intermediate goods (up 10.1% y/y), capital goods (up 6.2%) and energy (up 1.3%), while it declined in consumer durables (down 3.2%).