Serbia’s gross domestic product expanded by 3.8 percent year-on-year in the third quarter of 2018, easing from an upwardly revised 4.9 percent advance in the previous three month period but higher than a preliminary estimate of 3.7 percent. Government expenditure rose at a softer pace (4 percent from 4.8 percent in Q2) and fixed investment slowed (7 percent from 12.3 percent); while household consumption increased 3.3 percent, the same as in the prior period. Additionally, net trade contributed negatively to growth, as imports (11.2 percent from 9.4 percent) advanced faster than exports (9.1 percent from 6.7 percent). On a quarterly basis, the economy grew 0.5 percent, following a 1 percent gain in Q2. GDP Annual Growth Rate in Serbia averaged 3.04 percent from 1997 until 2018, reaching an all time high of 21.10 percent in the second quarter of 2000 and a record low of -21.30 percent in the second quarter of 1999.
GDP Annual Growth Rate in Serbia is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Serbia to stand at 3.20 in 12 months time. In the long-term, the Serbia GDP Annual Growth Rate is projected to trend around 3.70 percent in 2020, according to our econometric models.