Markets Actual Q4 Q1 Q2 Q3 2022
Currency 101.27 101 102 102 103 104
Stock Market (points) 793.23 787 775 764 753 730

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 1.30 0.9 0.9 1.2 0.7 0.9
GDP Annual Growth Rate (%) 13.70 4.8 4.1 3.2 3.5 3.7
Unemployment Rate (%) 11.10 10.6 11.3 11 10.6 10.2
Inflation Rate (%) 5.70 2.9 2.4 2.5 2.5 2.2
Interest Rate (%) 1.00 1 1.25 1.5 1.5 1.75
Balance of Trade (USD Million) -721.10 -390 -650 -500 -500 -780
Current Account (USD Million) -340.50 -390 -390 -390 -390 -390
Current Account to GDP (% of GDP) -4.30 -5.7 -5.5 -5.5 -5.5 -5.5
Government Debt to GDP (% of GDP) 57.40 60 56.7 56.7 56.7 56.7
Government Budget (% of GDP) -8.40 -4.4 -1.2 -1.2 -1.2 -1.2
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 15 15 15

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 1.30 0.9 0.9 1.2 0.7 0.9
GDP Annual Growth Rate (%) 13.70 4.8 4.1 3.2 3.5 3.7
GDP (USD Billion) 52.96 60.38 65.08 65.08 65.08 65.08
GDP Constant Prices (RSD Million) 1295205.30 1088851 1375284 1270309 1336652 1426169
Gross Fixed Capital Formation (RSD Million) 318954.30 294612 372629 304894 329161 386417
GDP per capita (USD) 7197.46 7100 7100 7100 7100 7250
GDP per capita PPP (USD) 18210.00 18000 18000 18000 18000 18500
GDP From Agriculture (RSD Million) 69801.60 78915 96334 64176 72035 99899
GDP From Construction (RSD Million) 69151.70 52903 86915 61022 71365 90131
GDP From Manufacturing (RSD Million) 259480.00 229663 279368 280921 267783 289705
GDP From Public Administration (RSD Million) 130214.40 127629 143263 136537 134381 148563
GDP From Services (RSD Million) 236552.00 175241 232503 216263 244122 241105

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 11.10 10.6 11.3 11 10.6 10.2
Wages (RSD/Month) 64731.00 62981 69529 68684 68454 73144
Minimum Wages (EUR/Month) 366.04 366 380 380 380 380
Population (Million) 6.93 6.88 6.88 6.88 6.88 6.84
Retirement Age Women 63.17 63.17 63.33 63.33 63.33 63.33
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 8.90 5.2 5.2 5.2 5.2 5.2

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 5.70 2.9 2.4 2.5 2.5 2.2
Consumer Price Index CPI (points) 212.10 207 209 213 217 211
Inflation Rate Mom (%) 0.80 0.1 0.1 0.1 0.1 0.2
Food Inflation (%) 5.20 3.5 3 3 3 4.7
CPI Transportation (points) 184.80 185 185 185 186 186
Producer Prices Change (%) 13.10 13.5 12.3 8.7 6.4 4.8

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 1.00 1 1.25 1.5 1.5 1.75
Interbank Rate (%) 0.91 0.91 1.16 1.41 1.41 1.66
Deposit Interest Rate (%) 0.10 0.1 0.35 0.6 0.6 0.85
Lending Rate (%) 1.90 1.9 2.15 2.4 2.4 2.65

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (USD Million) -721.10 -390 -650 -500 -500 -780
Current Account (USD Million) -340.50 -390 -390 -390 -390 -390
Current Account to GDP (% of GDP) -4.30 -5.7 -5.5 -5.5 -5.5 -5.5
Imports (USD Million) 2756.70 2150 2150 2150 2150 2500
Exports (USD Million) 2035.60 1650 1650 1650 1650 1720

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 57.40 60 56.7 56.7 56.7 56.7
Government Budget (% of GDP) -8.40 -4.4 -1.2 -1.2 -1.2 -1.2
Government Spending (RSD Million) 267702.40 257848 292285 266015 276269 303099

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 15 15 15
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 36.55 37.8 37.8 37.8 37.8 37.8
Social Security Rate For Companies (%) 16.65 17.9 17.9 17.9 17.9 17.9
Social Security Rate For Employees (%) 19.90 19.9 19.9 19.9 19.9 19.9

Business Actual Q4 Q1 Q2 Q3 2022
Industrial Production (%) 0.10 1.3 1.1 1.5 1.5 2.1

Consumer Actual Q4 Q1 Q2 Q3 2022
Retail Sales YoY (%) 7.70 7 7 5.2 5.2 5.5
Consumer Credit (SRB Million) 1346970.00 1303320 1317481 1351841 1394114 1351543
Gasoline Prices (USD/Liter) 1.59 1.51 1.44 1.36 1.29 1.23
Consumer Spending (RSD Million) 1037051.00 1029034 995253 888001 1070237 1032078


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.