Markets Actual Q4 Q1 Q2 Q3 2020
Stock Market (points) 750.35 743 736 729 721 707
Currency 106.40 108 108 109 109 111
Overview Actual Q4 Q1 Q2 Q3 2020
GDP Annual Growth Rate (%) 2.90 3.4 3.6 3.8 3.7 3.9
Unemployment Rate (%) 10.30 11.1 11.6 10.9 9.6 10
Inflation Rate (%) 1.10 1.8 2.6 2.7 2.8 2.9
Interest Rate (%) 2.50 2.5 2.5 2.5 2.5 2.5
Balance of Trade (USD Million) -421.50 -580 -580 -580 -560 -390
Current Account (USD Million) -329.70 -460 -390 -280 -250 -400
Current Account to GDP (%) -5.20 -5.5 -5.1 -5.1 -5.1 -5.1
Government Debt to GDP (%) 54.50 51 47.5 47.5 47.5 47.5
Government Budget (% of GDP) 0.60 -0.5 -0.4 -0.4 -0.4 -0.4
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 10 10 15
GDP Actual Q4 Q1 Q2 Q3 2020
GDP Annual Growth Rate (%) 2.90 3.4 3.6 3.8 3.7 3.9
GDP (USD Billion) 50.51 53 55 55 55 55
GDP Constant Prices (RSD Million) 953433.30 1012537 1006662 924766 926551 1050001
Gross Fixed Capital Formation (RSD Million) 261309.10 273964 272374 229760 230204 284100
GDP per capita (USD) 6880.50 7200 8000 8000 8000 8000
GDP per capita PPP (USD) 16035.36 16500 17000 17000 17000 17000
GDP From Agriculture (RSD Million) 54408.40 73384 72958 50342 56476 76099
GDP From Construction (RSD Million) 46146.40 49195 48910 33180 47900 51016
GDP From Manufacturing (RSD Million) 200987.30 213567 212327 209218 208625 221469
GDP From Public Administration (RSD Million) 111900.60 118684 117995 109952 116153 123075
GDP From Services (RSD Million) 155607.20 162959 162013 147054 161520 168988
Labour Actual Q4 Q1 Q2 Q3 2020
Unemployment Rate (%) 10.30 11.1 11.6 10.9 9.6 10
Wages (RSD/Month) 55042.00 58000 56562 58179 57280 60000
Minimum Wages (EUR/Month) 308.04 308 340 340 340 340
Population (Million) 7.00 7.02 6.97 6.97 6.97 6.97
Retirement Age Women 62.00 62.5 63 63 63 63
Retirement Age Men 65.00 65 65 65 65 65
Prices Actual Q4 Q1 Q2 Q3 2020
Inflation Rate (%) 1.10 1.8 2.6 2.7 2.8 2.9
Consumer Price Index CPI (Index Points) 197.00 199 203 204 203 204
Inflation Rate Mom (%) -0.50 0.1 0.4 -0.1 0.2 0.2
Food Inflation (%) 1.00 1.7 2.5 2.6 2.7 3.3
CPI Transportation (Index Points) 177.40 180 182 184 183 186
Money Actual Q4 Q1 Q2 Q3 2020
Interest Rate (%) 2.50 2.5 2.5 2.5 2.5 2.5
Interbank Rate (%) 1.98 2.95 2.95 1.98 1.98 2.95
Deposit Interest Rate (%) 1.25 2.25 1.5 1.5 1.5 2.25
Lending Rate (%) 3.75 4.25 4.25 4.25 4.25 4.25
Trade Actual Q4 Q1 Q2 Q3 2020
Balance of Trade (USD Million) -421.50 -580 -580 -580 -560 -390
Current Account (USD Million) -329.70 -460 -390 -280 -250 -400
Current Account to GDP (%) -5.20 -5.5 -5.1 -5.1 -5.1 -5.1
Imports (USD Million) 1923.00 2230 2490 2350 2420 2500
Exports (USD Million) 1501.50 1480 1810 1790 1930 1650
Government Actual Q4 Q1 Q2 Q3 2020
Government Debt to GDP (%) 54.50 51 47.5 47.5 47.5 47.5
Government Budget (% of GDP) 0.60 -0.5 -0.4 -0.4 -0.4 -0.4
Government Spending (RSD Million) 228497.30 239776 238385 215374 215789 248648
Taxes Actual Q4 Q1 Q2 Q3 2020
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 10 10 15
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 37.05 37.8 37.8 37.05 37.05 37.8
Social Security Rate For Companies (%) 17.15 17.9 17.9 17.15 17.15 17.9
Social Security Rate For Employees (%) 19.90 19.9 19.9 19.9 19.9 19.9
Business Actual Q4 Q1 Q2 Q3 2020
Industrial Production (%) 0.50 1.9 2 2.2 2.3 2.4
Consumer Actual Q4 Q1 Q2 Q3 2020
Retail Sales YoY (%) 7.60 5.2 3.2 3.5 3.8 4.5
Gasoline Prices (USD/Liter) 1.40 1.3 1.26 1.21 1.18 1.27
Consumer Spending (RSD Million) 927837.40 956913 951360 850659 852301 992318


This page has economic forecasts for Serbia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Serbia economy.