The economy of Bosnia & Herzegovina’s smaller entity - Republika Srpska - grew by a real 2.2% y/y in 2015, accelerating from a revised growth of 0.2% y/y the previous year, the entity’s statistics office reported on March 30. In the fourth quarter alone, annual GDP growth accelerated to 2.6% from a 2.4% y/y rise in Q3.
Republika Srpska’s economy was backed by better performance of agriculture and industry. Additionally, stronger growth in the wholesale and construction sector played a role.
Agricultural production increased 4.5% in 2015, reversing an 8.2% decline in the previous year.
The industrial sector grew by 2.6% y/y last year, accelerating from a 1.1% rise in 2014. The manufacturing sector expanded by 2.8% y/y, cooling from a 5.9% rise a year ago.
The construction sector grew by 3.2% y/y in 2015, slowing from a 12.9% y/y rise a year earlier.