Bosnia’s Serb Republic retail sales decline 9% y/y in March 2014

By bne IntelliNews April 29, 2014

Bosnia’s Serb Republic retail sales declined for a third straight month in March 2014, going down by 9.0% y/y and following a 6.4% y/y contraction the month before, the entity’s statistics office said in a statement. The reading likely signals that domestic demand remains depressed amid subdued employment growth (up by just 0.2% in 2013) and falling wages.

On a monthly basis, retail sales climbed 25.4% in March after decreasing 7.0% in February. Compared to the 2013 average, March’s retail trade turnover fell 13.9%.

Falling sales in non-specialised stores (down 24.3% y/y) and of automotive fuels and lubricants (down 6.7% y/y) pushed the overall index down.

On the other hand, retail trade of food, beverages and tobacco grew 11.6% y/y in March easing from a 14% hike in February. Other retail trade out of stores, likewise, went up by 12.1% y/y after climbing 28.9% y/y the month before.

The Serb Republic together with the Muslim-Croat Federation makes Bosnia. It accounts for around one third of the country’s total GDP. Household final consumption contributes nearly 70% of the entity’s GDP.

According to the IMF, private consumption is forecast to start recovering this year as Bosnia’s export-led economic growth strengthens to 2% from an estimated 1.2% in 2013.

Related Articles

Freedom House keeps “partly free” status for Macedonia despite new government’s efforts

Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more

World Bank loan aims to revitalise Republika Srpska's little-used railways

The World Bank said it is lending $51.3mn to Bosnia & Herzegovina’s smaller entity, Republika Srpska, ... more

Bosnia’s constitutional court allows policemen to keep their beards

The constitutional court of Bosnia & Herzegovina ruled on November 30 that a regulation obliging border policemen to shave their beards violates their ... more