The real growth of gross domestic product (GDP) in the third quarter of 2024, compared to the same period in 2023, amounted to 2.9%, according to the Republika Srpska Institute of Statistics.
Sectoral performance
According to the A10 classification of activities, the third quarter of 2024 saw significant real growth in gross value added in the following sectors: wholesale and retail trade, repair of motor vehicles and motorcycles, transportation and storage, accommodation, food preparation and serving, hospitality, and tourism, which grew by 8.1%. Financial activities and insurance also recorded growth of 5.7%.
In contrast, a real decline in gross value added was observed in mining and quarrying, manufacturing, electricity, gas, steam, and air conditioning supply, as well as water supply, sewerage, waste management, and environmental remediation activities, with a drop of 3.7%, including a 3.3% decline in manufacturing.
Consistent positive trends
Republika Srpska’s quarterly GDP has recorded consecutive positive real growth rates for the last fifteen quarters.
According to preliminary estimates, real GDP growth was achieved in the first, second, and third quarters of 2024 compared to the same periods in 2023, with rates of 2.8%, 2.2%, and 2.9%, respectively.
Source: RTRS
