Serbia's GDP expanded by 7.4 percent in 2021, pushed by the consumption, pushed by a large increase in private consumption (up 7.6 percent in real terms y/y), thanks to a strong increase of salaries and consumption loans. The economic recovery in 2021 was broad based, with the exception of the agriculture sector, where output declined by 5.4 percent in real terms. source: Statistical Office of the Republic of Serbia

Full Year GDP Growth in Serbia averaged 3.31 percent from 1996 until 2021, reaching an all time high of 9.03 percent in 2004 and a record low of -9.42 percent in 1999. This page includes a chart with historical data for Serbia Full Year GDP Growth. Serbia Full Year GDP Growth - values, historical data and charts - was last updated on November of 2022.

Full Year GDP Growth in Serbia is expected to reach 3.00 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Serbia Full Year GDP Growth is projected to trend around 2.50 percent in 2023 and 2.80 percent in 2024, according to our econometric models.

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Serbia Full Year GDP Growth

Related Last Previous Unit Reference
GDP Growth Rate 1.20 -0.60 percent Jun 2022
GDP Annual Growth Rate 3.90 4.40 percent Jun 2022
GDP 63.07 53.34 USD Billion Dec 2021

Serbia Full Year GDP Growth
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
7.39 -0.95 9.03 -9.42 1996 - 2021 percent Yearly
Constant 2010 prices