The Serbian economy advanced 2.5 percent year-on-year in the first quarter of 2019, higher than a preliminary estimate of 2.3 percent but slowing from a 3.4 percent expansion in the previous period. It was the weakest growth rate since the last quarter of 2017, as government spending eased (2.5 percent from 3.3 percent) while household consumption increased at the same pace as in the last quarter of 2018 (3.2 percent). Meantime, gross fixed capital formation advanced 8.4 percent, accelerating from a 3.2 percent expansion in the last quarter of 2018. Net foreign demand contributed negatively to growth, as exports rose 9.3 percent (from 10.6 percent in Q4) while imports went up at a faster 9.4 percent (from 10.9 percent). On a quarterly basis, the GDP expanded 0.3 percent, after a 0.2 percent growth in the prior quarter. 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 3.10 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 3.60 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.