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.
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