Bosnia’s GDP growth slows to 1.7% y/y in 4Q23

Bosnia’s GDP growth slows to 1.7% y/y in 4Q23
/ bne IntelliNews
By bne IntelliNews April 1, 2024

Bosnia & Herzegovina’s economy expanded by a real 1.7% year on year in the fourth quarter of 2023, slowing from a 1.9% y/y rise in the third quarter, the country’s statistics office reported (chart).

The World Bank has projected that Bosnia’s economy will rise by 2.5% in 2023, significantly below the 4% rise in 2022. The IMF expected 2% growth, while the central bank has projected Bosnia’s economic growth at 1.6% in 2023.

According to statistics office data, increase was recorded in half of all categories, including household final consumption expenditure (up 2% y/y), general government consumption expenditure (up 1.4%y/y) and final consumption (up 1.9% y/y).

Exports of goods and services decreased by 4.3% y/y and imports of goods and services fell by 5.4% y/y. Gross fixed capital formation also declined, by 4.4% y/y.

In seasonally adjusted terms, fourth-quarter GDP moved up 1.1% quarter on quarter, after rising by 1.2% q/q in the previous three months.