Markets Actual Q1 Q2 Q3 Q4 2022
Currency 96.74 97.03 97.4 97.78 98.17 98.94
Stock Market (points) 748.75 741 730 719 708 687

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 7.40 1.4 1.9 1.5 0.9 0.9
GDP Annual Growth Rate (%) -1.30 0.8 6.5 3 2.2 3.7
Unemployment Rate (%) 9.90 10.6 10.9 10.3 9.5 9
Inflation Rate (%) 1.10 1.3 1.7 2.3 2.9 2.9
Interest Rate (%) 1.00 1 1 1 1 1.5
Balance of Trade (USD Million) -683.20 -390 -900 -530 -390 -390
Current Account (USD Million) -21.20 -470 -350 -220 -390 -390
Current Account to GDP (%) -6.90 -5.1 -5.1 -5.1 -5.1 -5.5
Government Debt to GDP (%) 52.00 60 60 60 60 57
Government Budget (% of GDP) 0.20 -3.4 -3.4 -3.4 -3.4 -2.5
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 10 10 15 15

GDP Actual Q1 Q2 Q3 Q4 2022
GDP Growth Rate (%) 7.40 1.4 1.9 1.5 0.9 0.9
GDP Annual Growth Rate (%) -1.30 0.8 6.5 3 2.2 3.7
GDP (USD Billion) 51.41 45 45 45 45 51.8
GDP Constant Prices (RSD Million) 1260291.20 1209320 1213285 1298100 1288018 1335674
Gross Fixed Capital Formation (RSD Million) 299482.70 270987 260607 308467 306071 317396
GDP per capita (USD) 7213.18 7100 7100 7100 7100 7250
GDP per capita PPP (USD) 18179.80 18000 18000 18000 18000 18500
GDP From Agriculture (RSD Million) 100049.70 63455 75731 103051 102251 106034
GDP From Construction (RSD Million) 65818.90 49823 61534 67793 67267 69756
GDP From Manufacturing (RSD Million) 257879.90 261603 243685 265616 263553 273305
GDP From Public Administration (RSD Million) 124177.90 132629 141828 127903 126910 131605
GDP From Services (RSD Million) 212663.40 198262 188722 219043 217342 225384

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 9.90 10.6 10.9 10.3 9.5 9
Wages (RSD/Month) 60926.00 60000 63059 62963 63026 66339
Minimum Wages (EUR/Month) 366.04 366 366 366 366 380
Population (Million) 6.96 6.88 6.88 6.88 6.88 6.84
Retirement Age Women 62.00 63 63 63 63 63
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 8.20 5.5 5.5 5.5 5.2 5.2

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 1.10 1.3 1.7 2.3 2.9 2.9
Consumer Price Index CPI (points) 201.10 203 205 205 207 213
Inflation Rate Mom (%) 0.40 0.2 0.2 0.1 0.1 0.2
Food Inflation (%) 1.90 4 4.1 4.5 5.5 4.7
CPI Transportation (points) 168.00 177 166 173 173 178
Producer Prices Change (%) -1.90 1 2.5 2.7 3.1 4

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 1.00 1 1 1 1 1.5
Interbank Rate (%) 0.87 0.88 0.88 0.88 0.88 1.13
Deposit Interest Rate (%) 0.10 0.1 0.1 0.1 0.1 0.35
Lending Rate (%) 1.90 1.9 1.9 1.9 1.9 2.15

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Million) -683.20 -390 -900 -530 -390 -390
Current Account (USD Million) -21.20 -470 -350 -220 -390 -390
Current Account to GDP (%) -6.90 -5.1 -5.1 -5.1 -5.1 -5.5
Imports (USD Million) 2589.10 2350 2200 2150 2150 2500
Exports (USD Million) 1906.00 1450 1670 1750 1650 1720

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 52.00 60 60 60 60 57
Government Budget (% of GDP) 0.20 -3.4 -3.4 -3.4 -3.4 -2.5
Government Spending (RSD Million) 244069.80 241854 273983 251392 249439 258669

Taxes Actual Q1 Q2 Q3 Q4 2022
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 10 10 15 15
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 37.05 37.8 37.05 37.05 37.8 37.8
Social Security Rate For Companies (%) 17.15 17.9 17.15 17.15 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 2022
Industrial Production (%) 2.50 2.5 3.5 3.3 3.2 2.1

Consumer Actual Q1 Q2 Q3 Q4 2022
Retail Sales YoY (%) 3.20 2 5.4 4.5 5 3.5
Consumer Credit (SRB Million) 1243626.00 1139972 1261359 1273840 1270986 1318012
Gasoline Prices (USD/Liter) 1.43 1.36 1.29 1.23 1.16 1.11
Consumer Spending (RSD Million) 945520.20 863980 909962 973886 966322 1002076


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.