Serbia’s gross domestic product expanded by 4.4 percent year-on-year in the first quarter of 2022, following a 7 percent advance in the previous three-month period. While it marked the fifth consecutive month of expansion, the period was the third straight quarter of decelerated growth, as low-base effects from the pandemic continued to fade. Household consumption was 7.1 percent higher, while government expenditure rose by 2.5 percent and gross fixed capital formation advanced 1 percent. On the other hand, net foreign demand contributed negatively to the GDP growth, as imports of goods and services jumped by 27.3 percent while exports rose at a softer 19.6 percent. On a seasonally adjusted quarterly basis, the Serbian economy contracted by 0.5 percent, compared to a 1.6 percent expansion in the previous quarter. source: Statistical Office of the Republic of Serbia
GDP Annual Growth Rate in Serbia averaged 3.26 percent from 1997 until 2022, 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 August of 2022.
GDP Annual Growth Rate in Serbia is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Serbia GDP Annual Growth Rate is projected to trend around 3.70 percent in 2023, according to our econometric models.