Bosnia and Herzegovina’s economy advanced by 3.4% year-on-year in the second quarter of 2018, up from a 2% growth in the previous three month period. It was the strongest pace of expansion since the first quarter of 2017. Output rose faster for wholesale & retail trade, transportation & storage and accommodation & food service activities (8.6% from 7.1% in Q1) and financial & insurance activities (9.2% from 4.8%). Additionally, production rebounded for agriculture, forestry & fishing (8.5% from -2.4%) and professional, scientific & technical, administrative & support service activities (0.7% from -5.3%). On the other hand, output slowed for industry (1.3% from 2.6%), mainly due to a contraction in manufacturing (-1.7% from 2.1%); and construction (1.6% from 2.1%). On a seasonally adjusted quarterly basis, the economy expanded 1.1%, following a downwardly revised 0.4% gain in the first quarter. GDP Annual Growth Rate in Bosnia and Herzegovina averaged 1.73 percent from 2004 until 2018, reaching an all time high of 6.40 percent in the third quarter of 2011 and a record low of -6.70 percent in the fourth quarter of 2009.
GDP Annual Growth Rate in Bosnia and Herzegovina is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Bosnia and Herzegovina to stand at 3.00 in 12 months time. In the long-term, the Bosnia and Herzegovina GDP Annual Growth Rate is projected to trend around 2.70 percent in 2020, according to our econometric models.