Industrial production in Serbia declined 5.7% year-on-year in December 2025, following a 3.4% drop in the previous month. This marked the steepest fall in industrial activity since March 2024, as output decreased further in energy output (-23.4% vs -15% in November), durable consumer goods (-13.8% vs -9.9%), and non-durable consumer goods (-7.7% vs -4.8%). Additionally, production of intermediate goods, excluding energy, rose at a slower pace (1.0% vs 2.5%). In contrast, output growth accelerated in capital goods (25.2% vs 11.4%). On a seasonally adjusted monthly basis, industrial activity dropped by 4.4% from a 1.3% fall in November. Over the full year of 2025, industrial production was 0.9% higher than in 2024. source: Statistical Office of the Republic of Serbia

Industrial Production in Serbia decreased 5.70 percent in December of 2025 over the same month in the previous year. Industrial Production in Serbia averaged 2.11 percent from 1995 until 2025, reaching an all time high of 110.20 percent in May of 2000 and a record low of -58.73 percent in May of 1999. This page provides the latest reported value for - Serbia Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Serbia Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

Industrial Production in Serbia decreased 5.70 percent in December of 2025 over the same month in the previous year. Industrial Production in Serbia is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Serbia Industrial Production is projected to trend around 4.50 percent in 2027 and 3.80 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-30 11:00 AM
Industrial Production YoY
Nov -3.4% -2.3% 1.5%
2026-01-30 11:00 AM
Industrial Production YoY
Dec -5.7% -3.4% -1.9%
2026-02-27 11:00 AM
Industrial Production YoY
Jan -5.7% 0.5%


Related Last Previous Unit Reference
Industrial Production YoY -5.70 -3.40 percent Dec 2025
Industrial Production Mom -4.40 -1.60 percent Dec 2025
Manufacturing Production 8.30 3.80 percent Dec 2025
Mining Production 4.40 2.30 percent Dec 2025


Serbia Industrial Production
In Serbia, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.
Actual Previous Highest Lowest Dates Unit Frequency
-5.70 -3.40 110.20 -58.73 1995 - 2025 percent Monthly
NSA

News Stream
Serbia Industrial Output Falls to Near 2-Year Low
Industrial production in Serbia declined 5.7% year-on-year in December 2025, following a 3.4% drop in the previous month. This marked the steepest fall in industrial activity since March 2024, as output decreased further in energy output (-23.4% vs -15% in November), durable consumer goods (-13.8% vs -9.9%), and non-durable consumer goods (-7.7% vs -4.8%). Additionally, production of intermediate goods, excluding energy, rose at a slower pace (1.0% vs 2.5%). In contrast, output growth accelerated in capital goods (25.2% vs 11.4%). On a seasonally adjusted monthly basis, industrial activity dropped by 4.4% from a 1.3% fall in November. Over the full year of 2025, industrial production was 0.9% higher than in 2024.
2026-01-30
Serbia Industrial Output Slips in October
Industrial production in Serbia declined by 2.3% year-on-year in October 2025, marking the first decline since February and reversing a 2.5% growth in the previous month. The decline was driven by a sharp drop in energy output (-17% vs -1% in September) and a modest contraction in durable consumer goods (-0.2% vs -5.7%). Production of intermediate goods, excluding energy, rose at a slower pace (0.9% vs 7.9%). In contrast, output growth accelerated in capital goods (16.2% vs 11.3%) and rebounded in non-durable consumer goods (2.7% vs -4.2%). On a seasonally adjusted monthly basis, industrial activity contracted 2.1%, reversing a 1.1% growth in September. For the first ten months of 2025, industrial production was 2.1% higher compared with the same period last year.
2025-11-28
Serbia Industrial Output Growth at 4-Month High
Industrial production in Serbia rose by 5.5% year-on-year in July 2025, accelerating from 2.5% in the previous month. This marked the strongest growth since March, as output rebounded for energy (7.1% vs -3.1% in June) and non-durable consumer goods (2.7% vs -0.8%). On the other hand, output continued to fall for durable consumer goods (-10.5% vs -0.8%) and moderated for both intermediate goods, excluding energy (8.7% vs 9.2%), and capital goods (3.2% vs 3.9%). On a seasonally adjusted monthly basis, industrial activity increased by 1.8% in July from 1.2% in June. Considering the first seven months of the year, industrial production was 3% higher compared to the same period a year earlier.
2025-08-29