Serbia Industry May 2020


Serbia: Industrial output drops again in May

June 30, 2020

Industrial production dropped 9.3% year-on-year in May (April: -16.6% yoy), according to a preliminary estimate.

Looking at the details of the release, mining and quarrying production decreased at a sharper rate in May, while the drop in electricity, gas, steam and air conditioning output worsened. Meanwhile, manufacturing output declined at a softer rate.

On a monthly basis, industrial production rose 10.1% in seasonally-adjusted terms in May, rebounding from April’s 16.4% fall and marking the best result since March 2012. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.2% in May, contrasting April's plus 0.5%.

FocusEconomics Consensus Forecast panelists expect industrial production to decrease 5.0% in 2020, which down 0.5% percentage points from last month’s estimate. In 2021, the panel sees industrial production rising 3.6%.


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Serbia Industry Chart

Serbia Industry May 20 20

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Republic of Serbia (SORS).

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