Serbia’s gross domestic product expanded 2.9 percent year-on-year in the second quarter of 2019, higher than an upwardly revised 2.7 percent advance in the previous period, mainly due to a rise in fixed investment (8.6 percent vs 7.8 percent in Q1). On the other hand, both household consumption (3.2 percent vs 3.3 percent) and government expenditure (2.4 percent from 2.5 percent) slowed slightly. Also, net foreign demand contributed negatively to growth, as exports climbed 9.1 percent (vs 9.3 percent in Q1) but imports jumped at a faster 10.9 percent (vs 9.8 percent in Q1). On a seasonally adjusted quarterly basis, the GDP grew 1.2 percent, up from a 0.8 percent gain in Q1. GDP Annual Growth Rate in Serbia averaged 3.05 percent from 1997 until 2019, 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 3.20 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 3.80 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.

Serbia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-01 11:00 AM GDP Growth Rate YoY Final Q4 3.4% 4.1% 3.5%
2019-04-30 10:00 AM GDP Growth Rate YoY Prel Q1 2.3% 3.4% 3.2%
2019-05-31 10:40 AM GDP Growth Rate YoY Final Q1 2.5% 3.4% 2.3%
2019-09-02 10:00 AM GDP Growth Rate YoY Q2 2.9% 2.7% 2.2%
2019-10-31 11:00 AM GDP Growth Rate YoY Prel Q3 2.9% 3.2%
2019-12-02 11:00 AM GDP Growth Rate YoY Final Q3 2.9% 3.2%


Serbia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.20 0.80 6.90 -13.30 percent [+]
GDP Annual Growth Rate 2.90 2.70 21.10 -21.30 percent [+]
GDP 50.51 44.12 52.19 6.54 USD Billion [+]
GDP Constant Prices 953433.30 892631.00 978872.40 410507.00 RSD Million [+]
Gross Fixed Capital Formation 261309.10 221776.30 264970.00 2729.30 RSD Million [+]
GDP per capita 6880.50 6560.30 6880.50 3150.46 USD [+]
GDP per capita PPP 16035.36 15289.10 16035.36 6319.84 USD [+]
GDP From Agriculture 54408.40 48592.30 87289.10 33699.20 RSD Million [+]
GDP From Construction 46146.40 32027.40 47571.60 13936.30 RSD Million [+]
GDP From Manufacturing 200987.30 201948.20 211889.50 100127.60 RSD Million [+]
GDP From Public Administration 111900.60 106131.10 114781.20 69732.30 RSD Million [+]
GDP From Services 155607.20 141944.30 157391.30 39920.70 RSD Million [+]


Serbia GDP Annual Growth Rate

On the expenditure side, household consumption is the main component of Serbia's GDP and accounts for 76 percent of its total use, followed by gross fixed capital formation (17 percent) and government expenditure (18 percent). Exports of goods and services account for 44 percent of GDP while imports account for 54 percent, subtracting 10 percent of total GDP. This page provides - Serbia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.90 2.70 21.10 -21.30 1997 - 2019 percent Quarterly
NSA




Country Last Previous
China 6.00 Sep/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
United States 2.30 Jun/19
South Korea 2.00 Jun/19
Spain 2.00 Jun/19
Netherlands 1.80 Jun/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
United Kingdom 1.30 Jun/19
Euro Area 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Argentina 0.60 Jun/19
Saudi Arabia 0.50 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Sep/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19


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