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Bosniaʼs economy contracts at record pace in Q2

Bosnia and Herzegovinaʼs GDP plunged 9.3% year-on-year in the second quarter of 2020, following an upwardly revised 2.1% growth in the previous period, the countryʼs Agency for Statistics (BHAS) said on Friday, citing non-seasonally adjusted figures. 

Photo by BigAlBaloo/Shutterstock.com

It was the sharpest economic contraction since comparable data began in 2009, as the global pandemic took its toll on economic activity.

The largest declines were recorded in accommodation and food service activities (-57.7%), transportation and storage (-23.9%) and arts, entertainment and recreation (-23.3%).

 On a seasonally adjusted quarterly basis, the economy shrunk at a record 10.5%, compared to an upwardly revised 0.6% growth in the first quarter.