Bosnia's GDP grows 1.6% y/y in 2023 - first estimate

GDP grew by a real 1.7% year-on-year in the last quarter of 2023, following an annual increase of 1.9% in the third quarter of last year, and a 2.0% rise in the fourth quarter of 2022, according to the expenditure approach, the country's statistical office said in a quarterly report.

Household final consumption expenditure rose by 2.0%, and general government consumption expenditure expanded 1.4 % in real terms in the fourth quarter of 2023 compared to the same quarter of the previous year. Gross capital formation fell by a real 4.4% on the year, exports of goods and services declined 4.3% and imports of goods and services fell 5.4%.

On a quarterly comparison basis, GDP expanded by 0.5% in seasonally-adjusted terms in the October-December period, after rising by 0.7% in the July-September period of 2023, and by 0.7% in the fourth quarter of 2022.