Serbia's gross domestic product shrank by 1.4 percent from a year earlier in the third quarter of 2020, easing from a sharp contraction of 6.3 percent seen in the previous period due to the coronavirus crisis. Household final consumption expenditure dropped at a softer pace (-0.9 percent vs -8.2 percent in Q2) as well as fixed investment (-5.5 percent vs -12.9 percent). Meanwhile, public spending fell 1.0 percent, after an 8.5 percent growth in the previous three-month period. Net external demand also contributed negatively to the GDP as exports plunged 8.5 percent and imports dropped at a slower 2.7 percent. source: Statistical Office of the Republic of Serbia

GDP Annual Growth Rate in Serbia averaged 3.11 percent from 1997 until 2020, 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 January of 2021.

GDP Annual Growth Rate in Serbia is expected to be -1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Serbia to stand at 3.00 in 12 months time. In the long-term, the Serbia GDP Annual Growth Rate is projected to trend around 2.20 percent in 2021 and 3.70 percent in 2022, according to our econometric models.

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Serbia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.40 -6.30 26.20 -21.50 1997 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-03-02 11:00 AM YoY Q4 6.2% 4.8% 6.1%
2020-06-01 10:00 AM YoY Q1 5% 6.2% 3.6%
2020-08-31 10:00 AM YoY Q2 -6.4% 5.1% -4.8%
2020-11-30 11:00 AM YoY Q3 -1.4% -6.3% -4.8%
2021-03-01 11:00 AM YoY Q4 -1.4%
2021-05-31 10:00 AM YoY Q1
2021-08-31 10:00 AM YoY Q2
2021-11-30 11:00 AM YoY Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Serbia GDP Contracts at Softer Pace in Q3
Serbia's gross domestic product shrank by 1.4 percent from a year earlier in the third quarter of 2020, easing from a sharp contraction of 6.3 percent seen in the previous period due to the coronavirus crisis. Household final consumption expenditure dropped at a softer pace (-0.9 percent vs -8.2 percent in Q2) as well as fixed investment (-5.5 percent vs -12.9 percent). Meanwhile, public spending fell 1.0 percent, after an 8.5 percent growth in the previous three-month period. Net external demand also contributed negatively to the GDP as exports plunged 8.5 percent and imports dropped at a slower 2.7 percent.
2020-11-30
Serbia Economy Contracts the Most in Nearly 21 Years
Serbia’s economy shrank 6.4 percent year-on-year in the second quarter of 2020, after expanding an upwardly revised 5.1 percent in the previous period. It was the steepest contraction since the last quarter of 1999, amid lockdown restrictions due to the coronavirus pandemic. Household consumption plunged 8 percent, after growing 3.2 percent in the first quarter of the year; and gross fixed capital formation slumped 11.9 percent, following a 10.8 percent expansion. In addition, government spending growth slowed (8.9 percent vs 11.8 percent in Q1). Exports of goods and services tumbled 20.7 percent (vs 3 percent in Q1) and imports declined 19.3 percent (vs 8.1 percent in Q1). On a seasonally adjusted quarterly basis, the GDP shrank 9.2 percent, the most since the second quarter of 1999, following a 0.5 percent decline in the prior period.
2020-08-31
Serbia Q1 GDP Growth Slows to 5%
Serbia's GDP expanded 5 percent year-on-year in the first quarter of 2020, easing from a 6.2 percent advance in the previous period. Gross fixed capital formation slowed (10.7 percent vs 29.6 percent in Q4) and net trade contributed negatively to growth, as exports rose 3.1 percent (vs 8.7 percent) while imports jumped 8.3 percent (vs 11.4 percent). Meantime, household consumption edged up (3.2 percent vs 3.1 percent) and government spending grew strongly (12 percent vs 2.5 percent). On a seasonally adjusted quarterly basis, the economy shrank 0.6 percent, the first quarterly GDP contraction since Q4 of 2016 and compared to a 1.7 percent growth in Q4 of 2019.
2020-06-01
Serbia GDP Annual Growth at 11-Year High
Serbia's economy grew by 6.2 percent year-on-year in the fourth quarter 2019, accelerating from a 4.8 percent expansion in the previous period. It was the strongest GDP growth rate since the third quarter of 2008, boosted by increases in fixed investment (29.6 percent vs 17.5 percent), household consumption (3.1 percent vs 3.0 percent), and public spending (2.5 percent vs 4.7 percent). Meanwhile, net external demand contributed negatively to the GDP as imports jumped 11.4 percent and exports advanced at a softer 8.7 percent.
2020-03-02

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.