Serbia’s economic growth was confirmed at 0.7% from a year earlier in the first quarter of 2023, up from an upwardly revised 0.5% expansion in the prior quarter, boosted by a recovery in fixed investment (2% vs -2.7% in Q4 2022). On the other hand, both household consumption (-0.3% vs 1.5%) and government spending (-4.9% vs -2.4%) shrank. Net external demand also contributed negatively to the GDP, as exports eased (8.3% vs 12.9%) while imports declined (-1.8% vs 6.6%). On a seasonally adjusted quarterly basis, the Serbian economy fell by 0.2%, reversing a 0.6% gain in the previous three-month period. source: Statistical Office of the Republic of Serbia

GDP Annual Growth Rate in Serbia averaged 3.20 percent from 1997 until 2023, reaching an all time high of 26.20 percent in the second quarter of 2000 and a record low of -21.50 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 June of 2023.

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Serbia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-05-03 12:15 PM YoY Flash Q1 0.7% 0.4%
2023-05-31 10:00 AM YoY Final Q1 0.7% 0.5% 0.7%
2023-08-31 10:00 AM YoY Q2 0.7%


Related Last Previous Unit Reference
GDP Growth Rate -0.20 0.60 percent Mar 2023
GDP Annual Growth Rate 0.70 0.50 percent Mar 2023
GDP Constant Prices 1279270.70 1416679.90 RSD Million Mar 2023
Gross Fixed Capital Formation 376793.00 477674.70 RSD Million Mar 2023
Full Year GDP Growth 2.30 7.39 percent Dec 2022
GDP from Services 224412.20 257324.00 RSD Million Mar 2023
GDP from Public Administration 131211.20 142808.40 RSD Million Mar 2023
GDP from Manufacturing 282744.00 280832.40 RSD Million Mar 2023
GDP from Construction 56380.80 84429.00 RSD Million Mar 2023
GDP from Agriculture 56103.40 78387.80 RSD Million Mar 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.70 0.50 26.20 -21.50 1997 - 2023 percent Quarterly
NSA

News Stream
Serbia Q1 GDP Growth Confirmed at 0.7%
Serbia’s economic growth was confirmed at 0.7% from a year earlier in the first quarter of 2023, up from an upwardly revised 0.5% expansion in the prior quarter, boosted by a recovery in fixed investment (2% vs -2.7% in Q4 2022). On the other hand, both household consumption (-0.3% vs 1.5%) and government spending (-4.9% vs -2.4%) shrank. Net external demand also contributed negatively to the GDP, as exports eased (8.3% vs 12.9%) while imports declined (-1.8% vs 6.6%). On a seasonally adjusted quarterly basis, the Serbian economy fell by 0.2%, reversing a 0.6% gain in the previous three-month period.
2023-05-31
Serbia Q4 GDP Growth Slows to 2-Year Low of 0.4%
Serbia’s economic growth decelerated further to 0.4% year-on-year in the fourth quarter of 2022, down from a 1% advance in the previous three-month period. It makes the eighth consecutive quarter of expansion, though the slowest in the current sequence that began in the first quarter of 2021. Household consumption increased much slower (1.5% vs 3.1% in Q3), while both government spending (-2.4% vs -3.8%) and fixed investment (-2.7% vs -1.9%) contracted. Meanwhile, net external demand contributed positively to the GDP, as exports (12.9% vs 16.9%) advanced faster than imports (6.6% vs 11%). On a seasonally adjusted quarterly basis, the Serbian economy rose by 0.7%, compared to a 0.7% decline in the previous quarter. Serbia's GDP expanded by 2.3% year-on-year in 2022.
2023-02-28
Serbia GDP Growth Continues to Slow in Q3
Serbia’s gross domestic product advanced by 1% year-on-year in the third quarter of 2022, following a downwardly revised 3.8 % rise in the previous three-month period. It marks the fifth consecutive quarter of decelerating growth and the weakest growth rate since the last quarter of 2020, amid fading low-base effects and on the back of deteriorating global economic conditions. Household consumption slowed down (3.1% vs 3.8% in Q2) while both government spending (-4.5% vs 4.6%) and fixed investment (-2.2% vs 1.8%) decreased. Meanwhile, net external demand contributed positively to the GDP, as exports (14.9% vs 20.7% in Q3) advanced much faster than imports (7.8% vs 20.2%). On a seasonally adjusted quarterly basis, the Serbian economy contracted by 0.7%, compared to a 1.2% expansion in the previous quarter.
2022-11-30