March 31 (SeeNews) - The gross domestic product (GDP) of Bosnia's Serb Republic fell by a real 2.4% year-on-year in the fourth quarter of 2020, after contracting by 3.4% in the preceding quarter, the entity's statistical office said on Wednesday.
In seasonally-adjusted terms, GDP increased by 2% on a quarterly comparison basis in October-December, after adding 3.5% in July-September, the Serb Republic's statistical office said in a statement.
In the fourth quarter of 2019, the entity's GDP grew by 2.6% year-on-year in real terms.
The biggest real annual drop of gross value added in the fourth quarter of 2020 was recorded in arts, entertainment and recreation; other service activities, followed by mining and quarrying, manufacturing, electricity, gas, steam and air conditioning, water supply, sewerage, waste management and remediation activities.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.