Bosnia’s Serb Republic economic growth speeds up to 1.3% in Q2 2013

By bne IntelliNews October 1, 2013

Bosnia’s Serb Republic GDP grew a real 1.3% y/y in the second quarter of 2013, after expanding 0.9% in Q1 helped by higher manufacturing and public administration sectors' output, the entity’s statistics office said. In seasonally-adjusted terms, second-quarter GDP increased by 1% q/q, following a 0.5% q/q rise in the first three months of the year.

The manufacturing output, which accounts for 9.7% of the entity’s GDP, rose 10.1% y/y, whereas the public administration sector (holding a 19.2% share in GDP) went up 1.9% y/y.

Conversely, wholesale and retail trade (17.2% share) and real estate sectors (4.8% share) contracted by 0.8% y/y and 0.9% y/y, respectively, in April-June. The construction sector (a 4.4% share), which have been declining in annual terms since January 2009 (latest available), likewise remained in the red, declining by 3.0% in Q2.

The Serb Republic's economy contracted by a real 1% in 2012, following a 0.8% growth the year before, on falling agricultural, manufacturing and utilities output and shrinking construction and real estate activity. According to local analysts, the entity’s GDP will likely expand 2.0% this year supported by higher industrial output and sales abroad. The Serb Republic’s GDP accounts for around one third of Bosnia’s total GDP. The Republic makes up Bosnia and Herzegovina together with the Muslim-Croat Federation.

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