July 10 (SeeNews) - Bosnia and Herzegovina's gross domestic product (GDP) increased by a real 2.7% on the year in the first quarter of 2017, after expanding by 2.1% a year earlier, the national statistical office indicated on Monday.
The country's January-March GDP grew by 0.4% over the last quarter of 2016, according to seasonally adjusted data.
In a breakdown by sector, real annual growth of gross value added was recorded in the first quarter in arts, entertainment and recreation, by 12.3%; wholesale and retail trade, by 8.8%, and financial and insurance activities, by 6.1%, the Agency for Statistics of Bosnia and Herzegovina said in a quarterly report .
Bosnia’s GDP totaled 6.9 billion marka ($4.0 billion/3.5 billion euro) at current prices in the first quarter, compared to 6.6 billion marka a year earlier.
In April, the International Monetary Fund lowered its forecast for Bosnia's 2017 economic growth to 3.0% from 3.2% predicted in October.
(1 euro=1.95583 Bosnian marka)