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. source: Statistical Office of the Republic of Serbia

GDP Annual Growth Rate in Serbia averaged 3.25 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 December of 2022.

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. 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.

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Serbia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-31 10:00 AM Q2 3.9% 4.3% 4.8%
2022-11-30 11:00 AM Q3 1% 3.8% 1.1%


Related Last Previous Unit Reference
GDP Growth Rate -0.70 1.20 percent Sep 2022
GDP Annual Growth Rate 1.00 3.80 percent Sep 2022
GDP Constant Prices 1373945.10 1347262.30 RSD Million Sep 2022
Gross Fixed Capital Formation 417040.70 379366.60 RSD Million Sep 2022
Full Year GDP Growth 7.39 -0.95 percent Dec 2021
GDP from Services 255219.80 247231.40 RSD Million Sep 2022
GDP from Public Administration 129774.10 137132.70 RSD Million Sep 2022
GDP from Manufacturing 263735.90 277200.90 RSD Million Sep 2022
GDP from Construction 71551.30 65682.20 RSD Million Sep 2022
GDP from Agriculture 85332.70 60770.90 RSD Million Sep 2022

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
1.00 3.80 26.20 -21.50 1997 - 2022 percent Quarterly
NSA

News Stream
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
Serbia GDP Growth Slows to 4.4% in Q1
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.
2022-05-31