Markets Actual Q1 Q2 Q3 Q4 2020
Stock Market (points) 699.11 756 750 745 739 728
Currency 104.10 103 104 104 105 106
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 3.80 3.3 3.5 3.2 3.4 3.7
Unemployment Rate (%) 11.30 12.3 12.5 12.7 13 10
Inflation Rate (%) 2.00 2.5 1.9 2.1 2.3 2.9
Interest Rate (%) 3.00 3 3 3 3 3
Balance of Trade (USD Million) -573.70 -360 -610 -607 -580 -390
Current Account (USD Million) -229.90 -300 -150 -120 -250 -280
Current Account to GDP (%) -5.70 -5.5 -5.5 -5.5 -5.5 -5
Government Debt to GDP (%) 61.50 71.2 71.2 71.2 71.2 70.6
Government Budget (% of GDP) 0.80 1 1 1 1 1.1
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 15.00 15 15 15 15 15
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 3.80 3.3 3.5 3.2 3.4 3.7
GDP (USD Billion) 41.43 45 45 45 45 46
GDP Constant Prices (RSD Million) 954985.70 879636 936964 965175 987455 1023991
Gross Fixed Capital Formation (RSD Million) 243609.90 200439 238552 246209 251893 261213
GDP per capita (USD) 5992.28 6200 6200 6200 6200 6350
GDP per capita PPP (USD) 14048.88 14253 14253 14253 14253 14341
GDP From Agriculture (RSD Million) 76391.20 48032 54817 77206 78989 81911
GDP From Construction (RSD Million) 44431.80 30023 41600 45854 45942 47642
GDP From Manufacturing (RSD Million) 198836.50 207014 207872 200958 205597 213204
GDP From Public Administration (RSD Million) 107783.90 106254 112724 111233 111449 115572
GDP From Services (RSD Million) 153573.80 135373 149714 155212 158795 164671
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 11.30 12.3 12.5 12.7 13 10
Wages (RSD/Month) 49901.00 50000 49022 48975 58000 60000
Minimum Wages (EUR/Month) 282.51 340 299 299 340 380
Population (Million) 7.00 6.94 6.94 6.94 6.94 6.92
Retirement Age Women 62.00 62.5 62 62 62.5 63
Retirement Age Men 65.00 65 65 65 65 65
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 2.00 2.5 1.9 2.1 2.3 2.9
Consumer Price Index CPI (Index Points) 195.00 198 201 200 200 206
Inflation Rate Mom (%) 0.10 0.3 0.3 0.2 0.3 0.4
Food Inflation (%) 2.70 3.8 1.76 1.75 3.5 4
CPI Transportation (Index Points) 177.10 176 182 183 185 191
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 3.00 3 3 3 3 3
Interbank Rate (%) 3.06 3.03 3.03 3.03 3.03 3.03
Deposit Interest Rate (%) 1.75 2 2.25 1.5 2.25 2.25
Lending Rate (%) 4.25 4.25 4.25 4.25 4.25 4.25
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Million) -573.70 -360 -610 -607 -580 -390
Current Account (USD Million) -229.90 -300 -150 -120 -250 -280
Current Account to GDP (%) -5.70 -5.5 -5.5 -5.5 -5.5 -5
Imports (USD Million) 2219.40 2510 2600 2257 2590 2800
Exports (USD Million) 1645.70 2150 1990 1650 2010 2410
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 61.50 71.2 71.2 71.2 71.2 70.6
Government Budget (% of GDP) 0.80 1 1 1 1 1.1
Government Spending (RSD Million) 208846.50 198242 217843 215530 215947 223937
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 15.00 15 15 15 15 15
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 37.80 37.8 37.8 37.8 37.8 37.8
Social Security Rate For Companies (%) 17.90 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 Q1 Q2 Q3 Q4 2020
Industrial Production (%) -1.00 2.2 2.3 2.5 2.4 2.1
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales YoY (%) 6.10 4.5 4.1 3.8 3.6 4.1
Gasoline Prices (USD/Liter) 1.44 1.36 1.32 1.29 1.26 1.26
Consumer Spending (RSD Million) 892275.70 808409 814074 901796 922613 956750


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.