Bosnias Q2 current account deficit shrinks 8.2% y/y.

By bne IntelliNews October 3, 2012
Bosnias current account deficit shrank 8.2% y/y to BAM 900.7mn (EUR 460.5mn) in the second quarter after widening 45% y/y to BAM 852.8mn in the first quarter, central bank data showed. The current account gap contraction in Q2 was supported by a narrowing foreign trade deficit (down 1.6% y/y to BAM 2.1bn) as exports climbed (up 3.9% y/y to BAM 1.4bn) faster than imports (up 0.5% y/y to BAM 3.4bn). The services account surplus increased 6.5% y/y to BAM 535mn driven by higher income from goods for processing in Bosnia and higher tourism revenue. The financial account gap widened 1.6% y/y to BAM 851.8mn after rising 38.8% y/y in the previous quarter. Net foreign direct investments recorded a negative inflow of BAM 472mn vs. net negative inflow of BAM 59mn in Q2 2011. The current account gap in Jan-Jun surged 11.8% y/y to BAM 1.75bn, reaching 6.75% of the projected full-year GDP as foreign trade gap widened 4.2% y/y to BAM 3.97bn. In the first six months of the year, the financial account gap increased 17.7% y/y due to the negative net FDI inflow of BAM 583.9mn.
Bosnia's Balance of payments (BAM mn) Jan-Jun 11 Jan-Jun 12 Change
Current account -1,568.9 -1,753.5 -184.6
Foreign trade balance -3,973.3 -3,811.5 161.8
Services 998.8 1,013.3 14.5
Primary income 143.2 133.1 -10.1
Secondary income 1,073.5 ,1100.6 27.1
Capital account 176.04 131.7 -44.3
Financial account -1,743.7 -1,480.9 262.8
Net FDI -218.6 -583.9 -365.3
Net Portfolio investments 95.5 54.7 -10.8
Net other investments -1,015.4 -670 345.4
Net errors and omissions -88.1 -121.84 -33.7
Source: CBBH

Bosnias Q2 current account deficit shrinks 8.2% y/y.

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