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. source: Statistical Office of the Republic of Serbia

GDP Annual Growth Rate in Serbia averaged 3.17 percent from 1997 until 2021, 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 October of 2021.

GDP Annual Growth Rate in Serbia is expected to be 5.00 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 2022, according to our econometric models.

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Serbia GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-05-31 10:00 AM YoY Final Q1 1.7% -1.1% 1.2%
2021-08-31 10:00 AM YoY Q2 13.7% 1.8% 13.4%
2021-11-30 11:00 AM YoY Q3 13.7% 5%
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News Stream
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
Serbia Economy Contracts Less than Initially Thought
Serbia's gross domestic product shrank by 1.1 percent from a year earlier in the fourth quarter of 2020, below a preliminary estimate of a 1.3 percent decline and following a 1.4 percent contraction in the previous period. Household consumption (-2.7 percent vs -1.1 percent) and fixed investment (-4.1 percent vs -4.5 percent) continued to decrease, while government spending rebounded (4.6 percent vs -1.1 percent). Meantime, exports rose 2.1 percent (vs -8.3 percent in Q3) while imports went up at a much slower 0.8 percent (vs -2.6 percent in Q3). On a seasonally adjusted, the economy grew 2.2 percent, slowing from a 7.2 percent expansion in the previous quarter.
2021-03-01
Serbia GDP Contracts at Softer Pace in Q3
Serbia's gross domestic product shrank by 1.4 percent from a year earlier in the third quarter of 2020, easing from a sharp contraction of 6.3 percent seen in the previous period due to the coronavirus crisis. Household final consumption expenditure dropped at a softer pace (-0.9 percent vs -8.2 percent in Q2) as well as fixed investment (-5.5 percent vs -12.9 percent). Meanwhile, public spending fell 1.0 percent, after an 8.5 percent growth in the previous three-month period. Net external demand also contributed negatively to the GDP as exports plunged 8.5 percent and imports dropped at a slower 2.7 percent.
2020-11-30

Serbia Last Unit Reference Previous Highest Lowest
GDP Growth Rate 1.30 percent Jun/21 2.00 16.10 -19.60
GDP Annual Growth Rate 13.70 percent Jun/21 1.80 26.20 -21.50
GDP Constant Prices 1295205.30 RSD Million Jun/21 1220277.70 1326019.20 518596.10
Gross Fixed Capital Formation 318954.30 RSD Million Jun/21 292885.70 378117.90 1017.20
GDP From Services 236552.00 RSD Million Jun/21 207745.20 236552.00 57715.60
GDP From Public Administration 130214.40 RSD Million Jun/21 131159.80 136701.00 68614.80
GDP From Manufacturing 259480.00 RSD Million Jun/21 269857.00 269857.00 104648.50
GDP From Construction 69151.70 RSD Million Jun/21 58618.80 91246.90 8758.80
GDP From Agriculture 69801.60 RSD Million Jun/21 61648.30 99847.90 43082.50


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.