Markets Actual Q3 Q4 Q1 Q2 2023
Currency 120.93 120 122 124 125 129
Stock Market (points) 841.23 833 820 807 795 770

Overview Actual Q3 Q4 Q1 Q2 2023
GDP Growth Rate (%) -0.50 -0.7 -0.5 0.5 0.5 0.3
GDP Annual Growth Rate (%) 3.90 3.5 3.7 3.7 3.7 3.7
Unemployment Rate (%) 8.90 10.6 10.2 10.2 10.2 8.2
Inflation Rate (%) 13.20 9.8 8.5 7 5.8 4.6
Interest Rate (%) 3.50 3.5 3.75 4 4 4
Balance of Trade (USD Million) -662.00 -500 -580 -430 -430 -780
Current Account (USD Million) -12.50 -400 -390 -390 -390 -390
Current Account to GDP (% of GDP) -4.40 -5.5 -5.5 -5.5 -5.5 -5.3
Government Debt to GDP (% of GDP) 56.50 56.7 56.7 56.7 56.7 54.1
Government Budget (% of GDP) -4.60 -1.2 -1.2 -1.2 -1.2 -0.7
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 2023
GDP Growth Rate (%) -0.50 -0.7 -0.5 0.5 0.5 0.3
GDP Annual Growth Rate (%) 3.90 3.5 3.7 3.7 3.7 3.7
GDP (USD Billion) 63.07 65.08 65.08 65.08 65.08 69.38
GDP Constant Prices (RSD Million) 1347641.50 1407024 1458221 1320106 1397504 1512175
Gross Fixed Capital Formation (RSD Million) 367477.40 379992 451360 343118 381074 468060
GDP per Capita (USD) 7089.87 7100 7250 7250 7250 7250
GDP per Capita PPP (USD) 19761.65 18000 18500 18500 18500 18500
Full Year GDP Growth (%) 7.39 3 3 2.5 2.5 2.5
GDP from Agriculture (RSD Million) 62445.30 96423 88294 60260 64756 91561
GDP from Construction (RSD Million) 63074.80 81738 96687 57547 65409 100265
GDP from Manufacturing (RSD Million) 275364.00 273751 287778 284592 285552 298426
GDP from Public Administration (RSD Million) 135377.90 137335 148855 140015 140387 154362
GDP from Services (RSD Million) 256366.80 255827 263190 239472 265852 272928

Labour Actual Q3 Q4 Q1 Q2 2023
Unemployment Rate (%) 8.90 10.6 10.2 10.2 10.2 8.2
Wages (RSD/Month) 74302.00 68971 78510 78547 78166 82592
Minimum Wages (EUR/Month) 401.36 380 380 380 380 380
Population (Million) 6.87 6.88 6.84 6.84 6.84 6.84
Retirement Age Women 63.17 63.33 63.33 63.33 63.33 63.5
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 14.20 5.2 5.2 5.2 5.2 5.2

Prices Actual Q3 Q4 Q1 Q2 2023
Inflation Rate (%) 13.20 9.8 8.5 7 5.8 4.6
Consumer Price Index CPI (points) 238.10 233 235 238 246 246
Inflation Rate MoM (%) 1.20 0.1 0.1 0.1 0.1 0.2
Food Inflation (%) 20.40 19.5 16.7 14.2 10.7 5
CPI Transportation (points) 212.30 213 213 213 213 214
Producer Prices Change (%) 17.00 16.4 12 6.4 4.8 3.3

Money Actual Q3 Q4 Q1 Q2 2023
Interest Rate (%) 3.50 3.5 3.75 4 4 4
Interbank Rate (%) 3.35 3.35 3.6 3.85 3.85 3.85
Deposit Interest Rate (%) 2.00 2 2.25 2.5 2.5 2.5
Lending Rate (%) 4.50 4.5 4.75 5 5 5

Trade Actual Q3 Q4 Q1 Q2 2023
Balance of Trade (USD Million) -662.00 -500 -580 -430 -430 -780
Current Account (USD Million) -12.50 -400 -390 -390 -390 -390
Current Account to GDP (% of GDP) -4.40 -5.5 -5.5 -5.5 -5.5 -5.3
Imports (USD Million) 2936.00 2150 2150 2150 2150 2500
Exports (USD Million) 2273.60 1650 1720 1720 1720 1720

Government Actual Q3 Q4 Q1 Q2 2023
Government Debt to GDP (% of GDP) 56.50 56.7 56.7 56.7 56.7 54.1
Government Budget (% of GDP) -4.60 -1.2 -1.2 -1.2 -1.2 -0.7
Government Spending (RSD Million) 288779.20 273654 305136 279179 299464 316426

Taxes Actual Q3 Q4 Q1 Q2 2023
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 2023
Industrial Production (%) -1.60 1.5 2.1 2.1 2.1 2.1

Consumer Actual Q3 Q4 Q1 Q2 2023
Retail Sales YoY (%) 4.00 5.2 5.5 5.5 5.5 4.8
Consumer Credit (RSD Million) 1443485.00 1394114 1426006 1450616 1488213 1478768
Gasoline Prices (USD/Liter) 1.61 1.67 1.74 1.8 1.87 1.87
Consumer Spending (RSD Million) 1187963.90 1100286 1125393 1027392 1231919 1167033


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Serbia Forecast - was last updated on Saturday, September 24, 2022.