Markets Actual Q3 Q4 Q1 Q2 2020
Stock Market (points) 745.72 734 727 720 714 700
Currency 105.92 107 107 108 108 109
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 2.50 3.2 3.4 3.6 3.8 3.9
Unemployment Rate (%) 12.10 11 12.1 11.6 10.9 10
Inflation Rate (%) 1.60 2.1 2.3 2.6 2.7 2.9
Interest Rate (%) 2.50 2.5 2.5 2.5 2.5 2.5
Balance of Trade (USD Million) -394.30 -607 -580 -580 -580 -390
Current Account (USD Million) -365.80 -120 -350 -450 -250 -400
Current Account to GDP (%) -5.20 -5.5 -5.5 -5.1 -5.1 -5.1
Government Debt to GDP (%) 54.50 51 51 47.5 47.5 47.5
Government Budget (% of GDP) 0.60 -0.5 -0.5 -0.4 -0.4 -0.4
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 15 10 15
GDP Actual Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 2.50 3.2 3.4 3.6 3.8 3.9
GDP (USD Billion) 50.51 53 53 55 55 55
GDP Constant Prices (RSD Million) 892631.00 967919 1012537 1006662 924766 1050001
Gross Fixed Capital Formation (RSD Million) 221776.30 249363 273964 272374 229760 284100
GDP per capita (USD) 6880.50 7200 7200 8000 8000 8000
GDP per capita PPP (USD) 16035.36 16500 16500 17000 17000 17000
GDP From Agriculture (RSD Million) 46872.90 78059 73384 72958 48560 76099
GDP From Construction (RSD Million) 32560.20 46127 49195 48910 33732 51016
GDP From Manufacturing (RSD Million) 201341.70 201302 213567 212327 208590 221469
GDP From Public Administration (RSD Million) 106145.70 108942 118684 117995 109967 123075
GDP From Services (RSD Million) 141745.70 155414 162959 162013 146849 168988
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 12.10 11 12.1 11.6 10.9 10
Wages (RSD/Month) 55380.00 49022 58000 58000 58000 60000
Minimum Wages (EUR/Month) 308.04 308 308 340 340 340
Population (Million) 7.00 6.96 6.96 6.92 6.92 6.92
Retirement Age Women 62.00 62 62.5 63 63 63
Retirement Age Men 65.00 65 65 65 65 65
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 1.60 2.1 2.3 2.6 2.7 2.9
Consumer Price Index CPI (Index Points) 197.90 199 199 203 204 205
Inflation Rate Mom (%) -0.20 -0.3 0.1 0.4 0.3 0.2
Food Inflation (%) 2.10 2.2 2.4 2.5 2.6 3.3
CPI Transportation (Index Points) 178.20 183 181 182 184 186
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 2.50 2.5 2.5 2.5 2.5 2.5
Interbank Rate (%) 2.05 2.41 2.41 2.41 2.41 2.41
Deposit Interest Rate (%) 1.50 1.5 1.5 1.5 1.5 1.5
Lending Rate (%) 4.25 4.25 4.25 4.25 4.25 4.25
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (USD Million) -394.30 -607 -580 -580 -580 -390
Current Account (USD Million) -365.80 -120 -350 -450 -250 -400
Current Account to GDP (%) -5.20 -5.5 -5.5 -5.1 -5.1 -5.1
Imports (USD Million) 2116.20 2150 2230 2490 2550 2500
Exports (USD Million) 1673.50 1850 1480 1910 2000 1650
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 54.50 51 51 47.5 47.5 47.5
Government Budget (% of GDP) 0.60 -0.5 -0.5 -0.4 -0.4 -0.4
Government Spending (RSD Million) 207889.50 211075 239776 238385 215374 248648
Taxes Actual Q3 Q4 Q1 Q2 2020
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 15 10 15
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 37.05 37.8 37.8 37.8 37.05 37.8
Social Security Rate For Companies (%) 17.15 17.9 17.9 17.9 17.15 17.9
Social Security Rate For Employees (%) 19.90 19.9 19.9 19.9 19.9 19.9
Business Actual Q3 Q4 Q1 Q2 2020
Industrial Production (%) -6.10 1.4 1.9 2 2.2 2.4
Consumer Actual Q3 Q4 Q1 Q2 2020
Retail Sales YoY (%) 10.10 3.8 3.6 3.6 3.8 4.1
Gasoline Prices (USD/Liter) 1.47 1.43 1.39 1.36 1.32 1.32
Consumer Spending (RSD Million) 821099.70 915408 956913 951360 850659 992318


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.