Bosnia’s Serb Republic GDP expands 2.1% in 2013

By bne IntelliNews April 1, 2014

Bosnia’s Serb Republic economy expanded by 2.1% in 2013 improving from a 1.1% contraction the year before, underpinned by higher industrial, agriculture and public administration sectors' output, the entity’s statistics office said on March 31.

In the fourth quarter alone, the Republic’s GDP grew a real 2.0% y/y, quickening from a revised 1.9% y/y growth in Q3. In seasonally-adjusted terms, the fourth-quarter GDP edged up 0.4% q/q, after recording a zero q/q rise in July-September.

The manufacturing output, which accounts for 9% of the entity’s GDP, rose 6.8% last year, following a 4.5% contraction the year before. The agriculture sector (10% share) expanded 8.8% in 2013 after declining 7.9% in 2012. The public administration sector (holding a 19% share of the GDP) went up 0.9% last year, slowing from a 2.5% growth a year ago.

On the other hand, the wholesale and retail trade (17% share) swung to a 0.2% decline last year after edging up 0.7% in 2012. The real estate sector (5% share) remained in the red, shrinking by 0.8% in 2013 after a 1.0% contraction the year before. The construction sector (a 4% share), which has been on a steady downward trend since 2009 (latest available), declined by 2.6% in 2013, improving from a 3.2% drop in 2012.

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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