Serbia’s gross domestic product expanded 2.9 percent year-on-year in the second quarter of 2019, higher than an upwardly revised 2.7 percent advance in the previous period, mainly due to a rise in fixed investment (8.6 percent vs 7.8 percent in Q1). On the other hand, both household consumption (3.2 percent vs 3.3 percent) and government expenditure (2.4 percent from 2.5 percent) slowed slightly. Also, net foreign demand contributed negatively to growth, as exports climbed 9.1 percent (vs 9.3 percent in Q1) but imports jumped at a faster 10.9 percent (vs 9.8 percent in Q1). On a seasonally adjusted quarterly basis, the GDP grew 1.2 percent, up from a 0.8 percent gain in Q1. GDP Annual Growth Rate in Serbia averaged 3.05 percent from 1997 until 2019, reaching an all time high of 21.10 percent in the second quarter of 2000 and a record low of -21.30 percent in the second quarter of 1999.
GDP Annual Growth Rate in Serbia is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Serbia to stand at 3.80 in 12 months time. In the long-term, the Serbia GDP Annual Growth Rate is projected to trend around 3.70 percent in 2020, according to our econometric models.