Serbia’s economic growth grew 3.6% from a year earlier in the third quarter of 2023, above preliminary estimates of 3.5%, and up from a downwardly revised 1.6% expansion in the prior quarter, boosted by an increase in household consumption (1.3% vs -0.5% in Q2 2023). Moreover, fixed investment (4.1% vs 3.9%) and government consumption (1.7% vs -1.6%) also rose. Looking at external trade, exports contracted (-1.5% vs 2.4%), while imports declined at a slower pace (-1.2% vs -5.5%). On a seasonally adjusted quarterly basis, the Serbian economy was up by 1.3%, the same rate as in the previous three-month period. source: Statistical Office of the Republic of Serbia

The Gross Domestic Product (GDP) in Serbia expanded 3.80 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Serbia averaged 3.23 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 February of 2024.

The Gross Domestic Product (GDP) in Serbia expanded 3.80 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Serbia is expected to be 1.80 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 4.10 percent in 2025, according to our econometric models.

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Serbia GDP Annual Growth Rate


Calendar GMT Reference Actual Previous Consensus TEForecast
2023-11-30 11:00 AM YoY Final Q3 3.6% 1.6% 3.5%
2024-01-31 11:00 AM YoY Flash Q4 3.8% 3.6%
2024-02-29 11:00 AM YoY Final Q4 3.6% 3.8%


Related Last Previous Unit Reference
GDP Growth Rate 1.30 1.30 percent Sep 2023
GDP Annual Growth Rate 3.80 3.60 percent Dec 2023
GDP Constant Prices 1429781.80 1373938.20 RSD Million Sep 2023
Gross Fixed Capital Formation 474735.10 430843.70 RSD Million Sep 2023
Full Year GDP Growth 2.55 7.39 percent Dec 2022
GDP from Services 257337.90 237503.40 RSD Million Sep 2023
GDP from Public Administration 136496.40 138942.70 RSD Million Sep 2023
GDP from Manufacturing 276431.30 281708.10 RSD Million Sep 2023
GDP from Construction 81360.50 76006.90 RSD Million Sep 2023
GDP from Agriculture 92820.10 65152.20 RSD Million Sep 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
3.80 3.60 26.20 -21.50 1997 - 2023 percent Quarterly
NSA

News Stream
Serbian Economic Growth Revised Higher in Q3
Serbia’s economic growth grew 3.6% from a year earlier in the third quarter of 2023, above preliminary estimates of 3.5%, and up from a downwardly revised 1.6% expansion in the prior quarter, boosted by an increase in household consumption (1.3% vs -0.5% in Q2 2023). Moreover, fixed investment (4.1% vs 3.9%) and government consumption (1.7% vs -1.6%) also rose. Looking at external trade, exports contracted (-1.5% vs 2.4%), while imports declined at a slower pace (-1.2% vs -5.5%). On a seasonally adjusted quarterly basis, the Serbian economy was up by 1.3%, the same rate as in the previous three-month period.
2023-11-30
Serbian Economic Growth Accelerates to 1-1/2-Year High in Q3
Serbia's gross domestic product grew by 3.5% year-on-year during the third quarter of 2023, accelerating from a 1.7% expansion in the previous three-month period, a preliminary estimate showed. This marked the fastest pace of expansion since the second quarter of 2022, likely supported by a moderation in inflationary pressures, and despite borrowing costs remaining at their highest level since 2015.
2023-10-31
Serbia Q2 GDP Growth Confirmed at 1-Year High of 1.7%
Serbia’s economic growth was confirmed at 1.7% from a year earlier in the second quarter of 2023, up from an upwardly revised 0.9% rise in the previous three-month period. It marks the faster economic expansion since the second quarter of 2022, mainly boosted by fixed investment (3.9% vs 2.2% in Q1). Net external demand also contributed positively to the GDP, as exports rose (2.1% vs 8.3% in Q1) while imports declined (-5.8% vs -1.6%). On the other hand, both household consumption (-0.5% vs -0.2%) and government spending (-1.1% vs -4.8%) declined. Among main economic activities, notable growth was recorded for construction (15.1% vs -1.4%); information & communication (10.1% vs 9.9%) and agriculture (9.3% vs 10.5%).On a seasonally adjusted quarterly basis, the Serbian economy rose by 1.3%, after a revised 0.2% growth in the first quarter.
2023-08-31