Markets Actual Q3 Q4 Q1 Q2 2021
Currency 99.69 99.68 100 100 101 102
Stock Market (points) 667.68 658 648 639 629 610

Overview Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -0.60 2.5 0.9 0.7 0.6 0.5
GDP Annual Growth Rate (%) 5.00 -3.7 -1.5 0.8 4.5 1.2
Unemployment Rate (%) 9.70 14.5 16.2 15.9 15.1 13.4
Inflation Rate (%) 1.60 0.9 1.5 2.3 2.5 2.9
Interest Rate (%) 1.25 1 1 1 1 1.25
Balance of Trade (USD Million) -445.10 -390 -390 -900 -530 -390
Current Account (USD Million) -58.00 -180 -420 -470 -350 -390
Current Account to GDP (%) -6.90 -4.7 -4.7 -5.1 -5.1 -5.1
Government Debt to GDP (%) 52.00 62 62 60 60 60
Government Budget (% of GDP) 0.20 -4.3 -4.3 -3.4 -3.4 -3.4
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 10 10 10 10 10

GDP Actual Q3 Q4 Q1 Q2 2021
GDP Growth Rate (%) -0.60 2.5 0.9 0.7 0.6 0.5
GDP Annual Growth Rate (%) 5.00 -3.7 -1.5 0.8 4.5 1.2
GDP (USD Billion) 51.41 41.2 41.2 45 45 45
GDP Constant Prices (RSD Million) 939205.90 985996 1024948 946720 981470 1037247
Gross Fixed Capital Formation (RSD Million) 267124.10 312522 371795 269261 279145 376256
GDP per capita (USD) 7213.18 6900 6900 7100 7100 7100
GDP per capita PPP (USD) 18179.80 17200 17200 18000 18000 18000
GDP From Agriculture (RSD Million) 48290.70 75464 69928 48677 50464 70767
GDP From Construction (RSD Million) 37832.10 60933 69544 38135 39535 70379
GDP From Manufacturing (RSD Million) 210545.30 199637 210004 212230 220020 212525
GDP From Public Administration (RSD Million) 118192.20 110396 115903 119138 123511 117294
GDP From Services (RSD Million) 146030.60 160448 169065 147199 152602 171094

Labour Actual Q3 Q4 Q1 Q2 2021
Unemployment Rate (%) 9.70 14.5 16.2 15.9 15.1 13.4
Wages (RSD/Month) 58892.00 57027 63059 62963 62173 66339
Minimum Wages (EUR/Month) 307.67 340 340 410 410 410
Population (Million) 6.96 6.92 6.92 6.88 6.88 6.88
Retirement Age Women 62.00 63 63 63 63 63
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 7.80 6.2 5.5 5.5 5.5 5.2

Prices Actual Q3 Q4 Q1 Q2 2021
Inflation Rate (%) 1.60 0.9 1.5 2.3 2.5 2.9
Consumer Price Index CPI (points) 201.50 199 202 205 207 207
Inflation Rate Mom (%) 0.60 0.2 0.2 0.2 0.2 0.2
Food Inflation (%) 4.40 2.7 3.3 3.3 3.3 3.3
CPI Transportation (points) 163.70 179 180 179 168 186
Producer Prices Change (%) -2.70 0.2 0.2 1 2.5 3.1

Money Actual Q3 Q4 Q1 Q2 2021
Interest Rate (%) 1.25 1 1 1 1 1.25
Interbank Rate (%) 1.03 1.04 1.04 1.04 1.04 1.04
Deposit Interest Rate (%) 1.25 0.25 0.25 0.25 0.25 0.25
Lending Rate (%) 2.50 2.5 2.5 2.5 2.5 2.5

Trade Actual Q3 Q4 Q1 Q2 2021
Balance of Trade (USD Million) -445.10 -390 -390 -900 -530 -390
Current Account (USD Million) -58.00 -180 -420 -470 -350 -390
Current Account to GDP (%) -6.90 -4.7 -4.7 -5.1 -5.1 -5.1
Imports (USD Million) 2012.50 2020 2450 2350 2200 2500
Exports (USD Million) 1567.40 1630 1450 1450 1670 1650

Government Actual Q3 Q4 Q1 Q2 2021
Government Debt to GDP (%) 52.00 62 62 60 60 60
Government Budget (% of GDP) 0.20 -4.3 -4.3 -3.4 -3.4 -3.4
Government Spending (RSD Million) 244154.00 226436 253935 246107 255141 256982

Taxes Actual Q3 Q4 Q1 Q2 2021
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 10 10 10 10 10
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 37.05 37.05 37.05 37.05 37.05 37.05
Social Security Rate For Companies (%) 17.15 17.15 17.15 17.15 17.15 17.15
Social Security Rate For Employees (%) 19.90 19.9 19.9 19.9 19.9 19.9

Business Actual Q3 Q4 Q1 Q2 2021
Industrial Production (%) 2.60 -5 -2.5 -2.5 3.5 3.2

Consumer Actual Q3 Q4 Q1 Q2 2021
Retail Sales YoY (%) 11.50 -9.2 -4.5 2 5.4 4.8
Consumer Credit (SRB Million) 1184375.00 1062128 1095390 1139972 1203264 1108535
Gasoline Prices (USD/Liter) 1.37 1.27 1.21 1.15 1.09 1.04
Consumer Spending (RSD Million) 855355.90 918851 942091 862199 893847 953396


This page has economic forecasts for Serbia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Serbia economy.