Markets Actual Q3 Q4 Q1 Q2 2022
Currency 98.79 100 101 101 102 103
Stock Market (points) 768.43 762 751 740 729 708

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.20 1.5 0.9 0.9 0.9 0.9
GDP Annual Growth Rate (%) 1.70 3 2.2 2.2 5 3.7
Unemployment Rate (%) 12.80 12.9 12.7 12.3 12.4 10.5
Inflation Rate (%) 3.30 2.9 2.9 2.4 2.5 2.2
Interest Rate (%) 1.00 1 1 1.25 1.5 1.75
Balance of Trade (USD Million) 0.00 -400 -650 -500 -500 -780
Current Account (USD Million) -169.20 -220 -390 -390 -390 -390
Current Account to GDP (% of GDP) -6.90 -5.7 -5.7 -5.5 -5.5 -5.5
Government Debt to GDP (% of GDP) 52.00 60 60 56.7 56.7 56.7
Government Budget (% of GDP) 0.20 -4.4 -4.4 -1.2 -1.2 -1.2
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 15 15 15

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.20 1.5 0.9 0.9 0.9 0.9
GDP Annual Growth Rate (%) 1.70 3 2.2 2.2 5 3.7
GDP (USD Billion) 52.96 60.38 60.38 65.08 65.08 65.08
GDP Constant Prices (RSD Million) 1220112.50 1213504 1088851 1340526 1246955 1390125
Gross Fixed Capital Formation (RSD Million) 295376.60 263422 294612 363385 301875 376830
GDP per capita (USD) 7197.46 7100 7100 7100 7100 7250
GDP per capita PPP (USD) 18210.00 18000 18000 18000 18000 18500
GDP From Agriculture (RSD Million) 62731.90 75556 78915 93944 64112 97420
GDP From Construction (RSD Million) 59461.20 62593 52903 84759 60769 87895
GDP From Manufacturing (RSD Million) 268459.80 243484 229663 272415 274366 282494
GDP From Public Administration (RSD Million) 131359.70 141785 127629 139705 134250 144875
GDP From Services (RSD Million) 207419.90 189105 175241 226649 211983 235035

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 12.80 12.9 12.7 12.3 12.4 10.5
Wages (RSD/Month) 64948.00 60000 63059 62963 63026 66339
Minimum Wages (EUR/Month) 366.04 366 366 380 380 380
Population (Million) 6.93 6.88 6.88 6.88 6.88 6.84
Retirement Age Women 63.17 63.17 63.17 63.33 63.33 63.33
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 9.40 5.5 5.2 5.2 5.2 5.2

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 3.30 2.9 2.9 2.4 2.5 2.2
Consumer Price Index CPI (points) 208.10 207 207 209 213 211
Inflation Rate Mom (%) 0.30 0.1 0.1 0.1 0.1 0.2
Food Inflation (%) 1.20 4.5 3.5 3 3 4.7
CPI Transportation (points) 180.30 174 173 181 185 177
Producer Prices Change (%) 9.40 5.1 4.8 4.8 2.7 2.5

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 1.00 1 1 1.25 1.5 1.75
Interbank Rate (%) 0.88 0.88 0.88 1.13 1.38 1.38
Deposit Interest Rate (%) 0.10 0.1 0.1 0.1 0.35 0.6
Lending Rate (%) 1.90 1.9 4.25 1.9 2.15 2.4

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Million) 0.00 -400 -650 -500 -500 -780
Current Account (USD Million) -169.20 -220 -390 -390 -390 -390
Current Account to GDP (% of GDP) -6.90 -5.7 -5.7 -5.5 -5.5 -5.5
Imports (USD Million) 2742.80 2150 2150 2150 2150 2500
Exports (USD Million) 2013.50 1750 1650 1650 1650 1720

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 52.00 60 60 56.7 56.7 56.7
Government Budget (% of GDP) 0.20 -4.4 -4.4 -1.2 -1.2 -1.2
Government Spending (RSD Million) 260783.90 274069 257848 285033 266521 295579

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 15.00 15 15 15 15 15
Personal Income Tax Rate (%) 10.00 15 15 15 15 15
Sales Tax Rate (%) 20.00 20 20 20 20 20
Social Security Rate (%) 36.55 37.8 37.8 37.8 37.8 37.8
Social Security Rate For Companies (%) 16.65 17.9 17.9 17.9 17.9 17.9
Social Security Rate For Employees (%) 19.90 19.9 19.9 19.9 19.9 19.9

Business Actual Q3 Q4 Q1 Q2 2022
Industrial Production (%) 4.40 2.1 1.3 1.1 1.5 2.1

Consumer Actual Q3 Q4 Q1 Q2 2022
Retail Sales YoY (%) 5.80 4.5 7 7 5.2 5.5
Consumer Credit (SRB Million) 1309923.00 1273840 1270986 1293435 1375419 1318012
Gasoline Prices (USD/Liter) 1.58 1.5 1.43 1.35 1.29 1.22
Consumer Spending (RSD Million) 851941.50 908536 1029034 969443 870684 1005312


This page has economic forecasts for Serbia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Serbia economy.