Serbia’s gross domestic product expanded by 4.4 percent year-on-year in the first quarter of 2022, following a 7 percent advance in the previous three-month period. While it marked the fifth consecutive month of expansion, the period was the third straight quarter of decelerated growth, as low-base effects from the pandemic continued to fade. Household consumption was 7.1 percent higher, while government expenditure rose by 2.5 percent and gross fixed capital formation advanced 1 percent. On the other hand, net foreign demand contributed negatively to the GDP growth, as imports of goods and services jumped by 27.3 percent while exports rose at a softer 19.6 percent. On a seasonally adjusted quarterly basis, the Serbian economy contracted by 0.5 percent, compared to a 1.6 percent expansion in the previous quarter. source: Statistical Office of the Republic of Serbia

GDP Annual Growth Rate in Serbia averaged 3.26 percent from 1997 until 2022, reaching an all time high of 26.20 percent in the second quarter of 2000 and a record low of -21.50 percent in the second quarter of 1999. This page provides - Serbia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

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. In the long-term, the Serbia GDP Annual Growth Rate is projected to trend around 3.70 percent in 2023, according to our econometric models.

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Serbia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-02-28 11:00 AM YoY Final Q4 7% 7.6% 6.9%
2022-05-31 10:00 AM YoY Q1 4.4% 7% 4.1%
2022-08-31 10:00 AM YoY Q2 4.4%


Related Last Previous Unit Reference
GDP Growth Rate -0.50 1.60 percent Mar 2022
GDP Annual Growth Rate 4.40 7.00 percent Mar 2022
GDP Constant Prices 1273004.40 1406191.80 RSD Million Mar 2022
Gross Fixed Capital Formation 330875.90 435255.10 RSD Million Mar 2022
Full Year GDP Growth 7.39 -0.95 percent Dec 2021
GDP From Services 230927.60 253799.80 RSD Million Mar 2022
GDP From Public Administration 135019.70 143543.40 RSD Million Mar 2022
GDP From Manufacturing 274437.40 277510.10 RSD Million Mar 2022
GDP From Construction 55493.70 93237.40 RSD Million Mar 2022
GDP From Agriculture 58110.20 85143.50 RSD Million Mar 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
4.40 7.00 26.20 -21.50 1997 - 2022 percent Quarterly
NSA

News Stream
Serbia GDP Growth Slows to 4.4% in Q1
Serbia’s gross domestic product expanded by 4.4 percent year-on-year in the first quarter of 2022, following a 7 percent advance in the previous three-month period. While it marked the fifth consecutive month of expansion, the period was the third straight quarter of decelerated growth, as low-base effects from the pandemic continued to fade. Household consumption was 7.1 percent higher, while government expenditure rose by 2.5 percent and gross fixed capital formation advanced 1 percent. On the other hand, net foreign demand contributed negatively to the GDP growth, as imports of goods and services jumped by 27.3 percent while exports rose at a softer 19.6 percent. On a seasonally adjusted quarterly basis, the Serbian economy contracted by 0.5 percent, compared to a 1.6 percent expansion in the previous quarter.
2022-05-31
Serbia GDP Growth Slows to 7.7% in Q3
Serbia's gross domestic product expanded by 7.7 percent year-on-year in the third quarter of 2021, following a 13.7 percent advance in the previous three-month period, which was the fastest since the last quarter of 2001. It was the third consecutive quarter of growth, but at a slower pace, as low-base effects from the Covid-19 shock are fading. Household consumption rose 8.2 percent, government spending increased 7.8 percent and fixed investment advanced 12.6 percent. At the same time, exports and imports increased by 22.5 percent and 22.9 percent, respectively. On a seasonally adjusted quarterly basis, the economy expanded 1.6 percent, the same pace as in the second quarter.
2021-11-30
Serbia Economy Grows the Most Since 2001
Serbia's gross domestic product expanded by 13.7 percent year-on-year in the second quarter of 2021, following an upwardly revised 1.8 percent growth in the previous three-month period. That was the fastest pace of expansion since the last quarter of 2001, boosted by a rebound in activity and demand following the reopening of the economy. Household consumption surged 17.6 percent (vs -1.7 percent in Q1) and fixed investment jumped 22.5 percent (vs 9.0 percent in Q1), while public spending contracted 3.8 percent (vs -0.6 percent in Q1). In addition, net trade contributed negatively to the GDP as imports rose more than exports.
2021-08-31