BUSINESS

Analysis: GDP by the Expenditure Approach for Period 2007 – 2017

In this first release Agency for statistics of BiH, presents the revised annual estimates of the Gross domestic product by the expenditure approach for period 2007 – 2016 and a preliminary estimate of GDP for 2017. The estimates have been compiled according to the methodology of the European System of Accounts 2010 (ESA 2010)

Since September 2014, in all Member States of the European Union national accounts are compiled according to the methodological guidelines of the ESA 2010. The ESA 2010 is the European version of the System of National Accounts (SNA 2008) of the United Nations, a world-wide methodological framework. It is crucial to have such a methodological rulebook in the EU, in order to ensure that statistics on member States` economies are compiled in a consistent, comparable and reliable way.

Gross domestic product by expenditure is estimated at 32.299 millions of KM in 2017 and represent a nominal increase of 4,08% and 3,37% in real terms, from 2016 to 2017. These figures imply increase in prices of 0,71%.

Household final consumption expenditure (75% of GDP) reached the amount of 24.347 millions of KM in 2017, and represent a nominal increase of 2,93%. At constant prices, after discounting the effect of price changes, consumption slightly increased by 1,25% in comparison with the previous year. A breakdown of household consumption expenditure by purposes, recorded increase in nominal terms in groups: Food and non-alcoholic beverages 2,47%, Alcoholic beverages and tobacco 4,51%, Clothing and footwear 3,20%, Housing 4,23% , Health 2,04%, Transport 5,65%, Recreation and culture 2,24%, Restaurants and hotels 10,27%, Education 0,46%, Furnishing and routine households maintenance 1,46% and Miscellaneous goods and services 2,62%. The nominal decrease has been recorded in group: Communication 2,49%.

The price increase caused a real increase of the groups: Restaurants and hotels 10,13% and Housing 3,50%, while Clothing and footwear, Food and non-alcoholic beverages and Health reached increase of 1,92%, 1,05% and 1,33%. In real terms, slightest decrease has been reached in the group Education 0,21% but Communication reached a maximum of 3,34%.

General government consumption expenditure (20% of GDP) reached the amount of 6.369 millions of KM in 2017 and represents an increase of 1,60% in nominal terms and an increase of 1,55% in real terms.

Gross fixed capital formation (18% of GDP) has reached the amount of 5.653 millions of KM in 2017 and represents an increase of 8,95% in nominal terms and increase of 5,75% in real terms.

Export of goods and services in 2017 in comparison to 2016 registered nominal increase by 14,65% and real increase by 10,14% respectively.

Import of goods and services in 2017 in comparison to 2016 registered increase by 11,73% nominally and increase by 6,32% in real terms.

 

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