Serbia's GDP expanded 5 percent year-on-year in the first quarter of 2020, easing from a 6.2 percent advance in the previous period. Gross fixed capital formation slowed (10.7 percent vs 29.6 percent in Q4) and net trade contributed negatively to growth, as exports rose 3.1 percent (vs 8.7 percent) while imports jumped 8.3 percent (vs 11.4 percent). Meantime, household consumption edged up (3.2 percent vs 3.1 percent) and government spending grew strongly (12 percent vs 2.5 percent). On a seasonally adjusted quarterly basis, the economy shrank 0.6 percent, the first quarterly GDP contraction since Q4 of 2016 and compared to a 1.7 percent growth in Q4 of 2019.

GDP Annual Growth Rate in Serbia averaged 3.12 percent from 1997 until 2020, 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. 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 August of 2020. source: Statistical Office of the Republic of Serbia

GDP Annual Growth Rate in Serbia is expected to be -3.70 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 4.50 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.

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Serbia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.00 6.20 21.10 -21.30 1997 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-02 10:00 AM YoY Q2 2.9% 2.7% 2.2%
2019-12-02 11:00 AM YoY Q3 4.8% 2.9% 3.2%
2020-03-02 11:00 AM YoY Q4 6.2% 4.8% 6.1%
2020-06-01 10:00 AM YoY Q1 5% 6.2% 3.6%
2020-08-31 10:00 AM YoY Q2 5% -4.8%
2020-11-30 11:00 AM YoY Q3 -3.7%


News Stream
Serbia Q1 GDP Growth Slows to 5%
Serbia's GDP expanded 5 percent year-on-year in the first quarter of 2020, easing from a 6.2 percent advance in the previous period. Gross fixed capital formation slowed (10.7 percent vs 29.6 percent in Q4) and net trade contributed negatively to growth, as exports rose 3.1 percent (vs 8.7 percent) while imports jumped 8.3 percent (vs 11.4 percent). Meantime, household consumption edged up (3.2 percent vs 3.1 percent) and government spending grew strongly (12 percent vs 2.5 percent). On a seasonally adjusted quarterly basis, the economy shrank 0.6 percent, the first quarterly GDP contraction since Q4 of 2016 and compared to a 1.7 percent growth in Q4 of 2019.
2020-06-01
Serbia GDP Annual Growth at 11-Year High
Serbia's economy grew by 6.2 percent year-on-year in the fourth quarter 2019, accelerating from a 4.8 percent expansion in the previous period. It was the strongest GDP growth rate since the third quarter of 2008, boosted by increases in fixed investment (29.6 percent vs 17.5 percent), household consumption (3.1 percent vs 3.0 percent), and public spending (2.5 percent vs 4.7 percent). Meanwhile, net external demand contributed negatively to the GDP as imports jumped 11.4 percent and exports advanced at a softer 8.7 percent.
2020-03-02
Serbia Q3 GDP Growth at Over 1-Year High of 4.8%
Serbia’s GDP expanded 4.8 percent year-on-year in the third quarter 2019, accelerating from a 2.9 percent advance in the previous period. It was the highest GDP growth since Q2 2018, mainly due to a sharp rise in gross fixed capital formation (17.3 percent vs 8.8 percent in Q2) and government expenditure (4.6 percent vs 2.2 percent). On the other hand, household consumption slowed (3.1 percent vs 3.3 percent) and net trade contributed negatively to growth, as exports advanced 10.2 percent (vs 9.4 percent) while imports jumped at a faster 11.4 percent (vs 11.0 percent). On a seasonally adjusted quarterly basis, the GDP grew 2.2 percent, above a 1.4 percent gain in Q2, the highest since Q4 2007.
2019-12-02
Serbian Economy Grows 2.9% in Q2
Serbia’s GDP 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.
2019-09-02

Serbia GDP Annual Growth Rate
On the expenditure side, household consumption is the main component of Serbia's 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.