Serbia Industry January 2021


Serbia: Industrial output growth falls to 10-month low in January

March 3, 2021

Industrial output increased 2.5% year-on-year in January (December: +4.1% yoy). The figure was due to softer manufacturing production. Meanwhile, mining and quarrying production gained steam. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at 0.0% in January, down from December's plus 0.4% reading.

On a monthly basis, industrial output grew 1.8% in seasonally-adjusted terms in January, which was below December’s 3.5% expansion.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 3.9% in 2021, which is up 0.6 percentage points from last month’s estimate. In 2022, the panel sees industrial production rising 3.5%.


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Serbia Industry Chart

Serbia Industry January 2021

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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