Serbia’s economy advanced by 3.1% over a year ago in the third quarter of 2024, matching the preliminary estimate and following an upwardly revised 4.2% rise in the previous three-month period. This marked the slowest expansion since Q2 2023, as both household consumption (3.9% vs 4.7% in Q2) and government spending (2.6% vs 4.6%) slowed down, while fixed investment picked up (9.1% vs 7.8%). At the same time, net external demand contributed negatively to the GDP, as exports (3.2% vs 4.6% in Q2) rose much less than imports (14.4% vs 8.4%). On a seasonally adjusted quarterly basis, the Serbian GDP increased by 0.5% in Q3, after a 0.9% rise in the previous period. source: Statistical Office of the Republic of Serbia

The Gross Domestic Product (GDP) in Serbia expanded 3.10 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Serbia averaged 3.18 percent from 1997 until 2024, reaching an all time high of 25.10 percent in the second quarter of 2000 and a record low of -21.70 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 January of 2025.

The Gross Domestic Product (GDP) in Serbia expanded 3.10 percent in the third quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Serbia is expected to be 2.90 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 3.60 percent in 2025 and 3.50 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-31 11:00 AM YoY Flash Q3 3.1% 4% 3.2%
2024-12-02 11:00 AM YoY Final Q3 3.1% 4.2% 3.1% 3.1%
2025-01-31 11:00 AM YoY Flash Q4 3.1% 2.9%


Related Last Previous Unit Reference
Full Year GDP Growth 3.90 3.80 percent Dec 2024
GDP Growth Rate YoY 3.10 4.20 percent Sep 2024
GDP Constant Prices 1841167.00 1808387.50 RSD Million Sep 2024
GDP from Agriculture 94751.50 67032.70 RSD Million Sep 2024
GDP from Construction 94474.70 90087.40 RSD Million Sep 2024
GDP from Manufacturing 341639.70 337219.50 RSD Million Sep 2024
GDP from Public Administration 208811.60 221446.90 RSD Million Sep 2024
GDP from Services 295401.90 286787.90 RSD Million Sep 2024
GDP Growth Rate 0.50 0.90 percent Sep 2024
Gross Fixed Capital Formation 476812.90 426223.20 RSD Million Sep 2024

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
3.10 4.20 25.10 -21.70 1997 - 2024 percent Quarterly
NSA


News Stream
Serbia GDP Growth Confirmed at Over 1-Year Low
Serbia’s economy advanced by 3.1% over a year ago in the third quarter of 2024, matching the preliminary estimate and following an upwardly revised 4.2% rise in the previous three-month period. This marked the slowest expansion since Q2 2023, as both household consumption (3.9% vs 4.7% in Q2) and government spending (2.6% vs 4.6%) slowed down, while fixed investment picked up (9.1% vs 7.8%). At the same time, net external demand contributed negatively to the GDP, as exports (3.2% vs 4.6% in Q2) rose much less than imports (14.4% vs 8.4%). On a seasonally adjusted quarterly basis, the Serbian GDP increased by 0.5% in Q3, after a 0.9% rise in the previous period.
2024-12-02
Serbian Economic Growth Revised Down in Q2
Serbia’s economy rose by 4% from a year earlier in the second quarter of 2024, slightly below the preliminary estimate of 4.2% and following a downwardly revised 4.6% growth in the previous three-month period. The expansion was driven by household consumption (4.8% vs 4.4% in Q1), government spending (4.5% vs 3.6%) and fixed capital formation (8.5% vs 7.5%). Meanwhile, net trade contributed negatively to the GDP as imports (8.5% vs 3.5%) increased much more than exports (4.4% vs 1.3%). On a seasonally adjusted quarterly basis, the Serbian GDP increased by 0.8% in Q2, after a downwardly revised 0.7% rise in the previous quarter.
2024-09-02
Serbian Economic Growth Revised Higher in Q1
Serbia’s economy grew by 4.7% from a year earlier in the first quarter of 2024, slightly above preliminary estimates of 4.6%, and up from a 3.8% rise in the previous three-month period. It marks the strongest growth rate since the last quarter of 2021, mainly boosted by fixed investment (+7.3%) and household consumption (+4.4%). Government spending rose by 3.6%. Meanwhile, net trade contributed negatively to the GDP growth as exports increased by 1.1% whereas imports surged by 3.2%. On a seasonally adjusted quarterly basis, the Serbian GDP increased by 0.8% in Q1, after an upwardly revised 1% rise in the previous quarter.
2024-05-31