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.