Serbia's gross domestic product shrank by 1.4 percent from a year earlier in the third quarter of 2020, easing from a sharp contraction of 6.3 percent seen in the previous period due to the coronavirus crisis. Household final consumption expenditure dropped at a softer pace (-0.9 percent vs -8.2 percent in Q2) as well as fixed investment (-5.5 percent vs -12.9 percent). Meanwhile, public spending fell 1.0 percent, after an 8.5 percent growth in the previous three-month period. Net external demand also contributed negatively to the GDP as exports plunged 8.5 percent and imports dropped at a slower 2.7 percent. source: Statistical Office of the Republic of Serbia
GDP Annual Growth Rate in Serbia averaged 3.11 percent from 1997 until 2020, reaching an all time high of 26.20 percent in the second quarter of 2000 and a record low of -21.50 percent in the second quarter of 1999. This page provides - Serbia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
GDP Annual Growth Rate in Serbia is expected to be -1.50 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 5.00 in 12 months time. In the long-term, the Serbia GDP Annual Growth Rate is projected to trend around 1.20 percent in 2021 and 2.70 percent in 2022, according to our econometric models.