June 30 (SeeNews) - The gross domestic product (GDP) of Bosnia's Federation increased by a real 6.2% on the year in the first quarter of this year, following a 7.5% annual growth in the fourth quarter of 2021 and a 2.3% increase in the first quarter of last year, the entity's statistical office said in a first estimate.
In seasonally-adjusted terms, the growth in the Federation's economic output slowed down to 1.5% on a quarterly comparison basis in the first three months of this year from a revised 1.7% growth in the October-December period of last year, and a 3.4% increase in January-March 2021, the Federation's statistical office said in a statement on Thursday.
The largest annual real rate of growth of gross value added in the first quarter of 2022, 14.3%, was recorded in the wholesale and retail trade; repair of motor vehicles and motorcycles, transportation and storage, accommodation and food service activities, followed by a 12.8% growth in manufacturing and a 12% increase in information and communication activities.
The Federation is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Serb Republic.