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.

GDP Annual Growth Rate in Serbia averaged 3.07 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. This page provides - Serbia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistical Office of the Republic of Serbia

GDP Annual Growth Rate in Serbia is expected to be 3.60 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 3.90 in 12 months time. In the long-term, the Serbia GDP Annual Growth Rate is projected to trend around 3.90 percent in 2021 and 3.70 percent in 2022, according to our econometric models.


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Serbia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.80 2.90 21.10 -21.30 1997 - 2019 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-04-30 10:00 AM YoY Prel Q1 2.3% 3.4% 3.2%
2019-05-31 10:40 AM YoY Final Q1 2.5% 3.4% 2.3%
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 4.8% 6.1%
2020-06-01 10:00 AM YoY Q1 3.6%
2020-08-31 10:00 AM YoY Q2 3.7%
2020-11-30 11:00 AM YoY Q3 3.7%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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 Q1 GDP Growth Revised Up to 2.5%
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.
2019-05-31
Serbia Q1 GDP Growth Rate at 1-1/2-Year Low
The Serbian economy advanced 2.3 percent year-on-year in the first quarter of 2019, slowing from a 3.4 percent expansion in the previous period, a preliminary estimate showed. It was the lowest growth rate since the third quarter of 2017.
2019-04-30

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.