Markets Actual Q3 Q4 Q1 Q2 2023
Currency 112.50 114 115 117 117 119
Stock Market (points) 837.51 809 796 784 784 760

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -0.50 0.7 0.5 0.5 0.5 0.5
GDP Annual Growth Rate (%) 4.40 3.5 3.7 3.7 3.7 3.7
Unemployment Rate (%) 10.60 10.6 10.2 10.2 10.2 8.2
Inflation Rate (%) 10.40 8.8 8.5 7 5.8 4.6
Interest Rate (%) 2.50 3.5 3.75 4 4 4
Balance of Trade (USD Million) -1201.00 -500 -500 -580 -430 -780
Current Account (USD Million) -505.60 -400 -390 -390 -390 -390
Current Account to GDP (% of GDP) -4.30 -5.5 -5.5 -5.5 -5.5 -5.3
Government Debt to GDP (% of GDP) 56.50 56.7 56.7 56.7 56.7 54.1
Government Budget (% of GDP) -8.40 -1.2 -1.2 -1.2 -1.2 -0.7
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 15 15 15

GDP Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -0.50 0.7 0.5 0.5 0.5 0.5
GDP Annual Growth Rate (%) 4.40 3.5 3.7 3.7 3.7 3.7
GDP (USD Billion) 52.96 65.08 65.08 65.08 65.08 69.38
GDP Constant Prices (RSD Million) 1273004.40 1338318 1407024 1458221 1320106 1512175
Gross Fixed Capital Formation (RSD Million) 330875.90 329161 379992 451360 343118 468060
GDP per capita (USD) 6533.19 7100 7250 7250 7250 7250
GDP per capita PPP (USD) 18210.00 18000 18500 18500 18500 18500
Full Year GDP Growth (%) 7.39 3 3 2.5 2.5 2.5
GDP From Agriculture (RSD Million) 58110.20 68579 96423 88294 60260 91561
GDP From Construction (RSD Million) 55493.70 70468 81738 96687 57547 100265
GDP From Manufacturing (RSD Million) 274437.40 270942 273751 287778 284592 298426
GDP From Public Administration (RSD Million) 135019.70 133664 137335 148855 140015 154362
GDP From Services (RSD Million) 230927.60 244018 255827 263190 239472 272928

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 10.60 10.6 10.2 10.2 10.2 8.2
Wages (RSD/Month) 73012.00 68454 68971 78510 78547 82592
Minimum Wages (EUR/Month) 401.36 380 380 380 380 380
Population (Million) 6.93 6.88 6.84 6.84 6.84 6.84
Retirement Age Women 63.17 63.33 63.33 63.33 63.33 63.5
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 12.40 5.2 5.2 5.2 5.2 5.2

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 10.40 8.8 8.5 7 5.8 4.6
Consumer Price Index CPI (points) 229.10 229 231 235 238 246
Inflation Rate Mom (%) 1.20 0.1 0.1 0.1 0.1 0.2
Food Inflation (%) 16.00 3 4.7 4.7 4.7 4.7
CPI Transportation (points) 207.20 207 208 208 208 209
Producer Prices Change (%) 18.20 16.4 12 6.4 4.8 3.3

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 2.50 3.5 3.75 4 4 4
Interbank Rate (%) 2.32 3.32 3.57 3.82 3.82 3.82
Deposit Interest Rate (%) 1.50 1 2 2.25 2.5 2.5
Lending Rate (%) 3.00 3 4 4.25 4.5 4.5

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (USD Million) -1201.00 -500 -500 -580 -430 -780
Current Account (USD Million) -505.60 -400 -390 -390 -390 -390
Current Account to GDP (% of GDP) -4.30 -5.5 -5.5 -5.5 -5.5 -5.3
Imports (USD Million) 3684.20 2150 2150 2150 2150 2500
Exports (USD Million) 2483.20 1650 1720 1720 1720 1720

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 56.50 56.7 56.7 56.7 56.7 54.1
Government Budget (% of GDP) -8.40 -1.2 -1.2 -1.2 -1.2 -0.7
Government Spending (RSD Million) 269218.20 276269 273654 305136 279179 316426

Taxes Actual Q3 Q4 Q1 Q2 2023
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 Q3 Q4 Q1 Q2 2023
Industrial Production (%) 8.70 1.5 2.1 2.1 2.1 2.1

Consumer Actual Q3 Q4 Q1 Q2 2023
Retail Sales YoY (%) 5.10 5.2 5.5 5.5 5.5 4.8
Consumer Credit (RSD Million) 1423480.00 1351841 1394114 1426006 1450616 1478768
Gasoline Prices (USD/Liter) 1.71 1.77 1.84 1.9 1.97 1.97
Consumer Spending (RSD Million) 990734.50 1070237 1100286 1125393 1027392 1167033


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Serbia Forecast - was last updated on Sunday, July 3, 2022.