Serbia’s GDP contracted 0.6 percent quarter-on-quarter in the three months to March of 2020, after a 1.7 percent expansion in the previous period.

GDP Growth Rate in Serbia averaged 0.70 percent from 1996 until 2020, reaching an all time high of 6.90 percent in the fourth quarter of 1997 and a record low of -13.30 percent in the second quarter of 1999. This page provides - Serbia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia GDP Growth Rate - values, historical data and charts - was last updated on June of 2020.

GDP Growth Rate in Serbia is expected to be -5.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Serbia to stand at 1.30 in 12 months time. In the long-term, the Serbia GDP Growth Rate is projected to trend around 1.00 percent in 2021 and 0.70 percent in 2022, according to our econometric models.

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Serbia GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.60 1.70 6.90 -13.30 1996 - 2020 percent Quarterly
SA

Serbia GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.60 1.70 6.90 -13.30 percent [+]
GDP Annual Growth Rate 5.00 6.20 21.10 -21.30 percent [+]
GDP 53.00 50.51 53.00 6.54 USD Billion [+]
GDP Constant Prices 1040492.80 1004135.60 1040492.80 410507.00 RSD Million [+]
Gross Fixed Capital Formation 377456.50 318412.20 377456.50 2729.30 RSD Million [+]
GDP per capita 6880.50 6560.30 6880.50 3150.46 USD [+]
GDP per capita PPP 16035.36 15289.10 16035.36 6319.84 USD [+]
GDP From Agriculture 70993.00 76886.70 87289.10 33699.20 RSD Million [+]
GDP From Construction 70603.40 61499.60 70603.40 13936.30 RSD Million [+]
GDP From Manufacturing 213139.90 203136.40 213139.90 100127.60 RSD Million [+]
GDP From Public Administration 117652.00 112424.40 117652.00 69732.30 RSD Million [+]
GDP From Services 171652.90 163612.50 171652.90 39920.70 RSD Million [+]


Serbia GDP Growth Rate
Serbia's economy depends on manufacturing and exports, driven by foreign direct investments. The FDI are concentrated in a variety of industries including metal processing, building, textile, beverage, electronics and financial. On the expenditure side, household consumption is the main component of 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.