Bosnia’s industrial production growth accelerates in July

Bosnia’s industrial production growth accelerates in July
By bne IntelliNews August 29, 2017

Bosnia & Herzegovina’s industrial output increased 5.6% y/y in July, improving from a 3.1% y/y growth in June as the performance of all three sectors improved, according to working-day adjusted data reported by the country’s statistics office. In seasonally adjusted m/m terms, industrial production rose 0.9% in July, after dropping 0.9% m/m in June.

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 8.5% in July from 2.5% in June. Within manufacturing, the strongest y/y increase took place in the manufacture of computer, electronic and optical products (up 300.3%), while the deepest decline was reported for coke and refined petroleum products (down 22.4%).

Mining production rose by 5.5% y/y in July, worsening from a 15.3% y/y rise in June. Output increased y/y in other mining and quarrying (up 10.3% y/y) and mining of coal and lignite (up 3.7% y/y), while it declined in mining of metal ores (down 0.4% y/y).

Utilities output turned to a 2.1% y/y growth in July from a 3.2% annual fall in June.

Across the main industrial groups, production increased y/y in energy (up 11.6%), consumer non-durables (up 9.3%), capital goods (up 5.6%) and consumer durables (up 2.1%), while it remained unchanged y/y in intermediate goods.