Serbia Industry April 2021


Serbia: Industrial output records best result on record in April

May 31, 2021

Industrial output grew 33.9% year-on-year in April (March: +6.1% yoy). The reading marked the best result on record, and reflected a supportive base effect as the country was on lockdown in the same month last year. Looking at the details of the release, mining and quarrying output grew at a slower rate in April, while electricity, gas, steam and air conditioning output gained momentum.

On a monthly basis, industrial output rose 1.5% in seasonally-adjusted terms in April, contrasting March’s 3.5% fall. Meanwhile, annual average industrial production growth rose to 4.4% in April (March: +0.1%). This signals an improving trend in the industrial sector.

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 April 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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