Serbian town in the winter

Serbia Exports

Serbia Exports

Exports in Serbia

The economy of Serbia recorded an average exports growth rate of 10.0% in the decade to 2022. In 2022, export exports growth was 17.6%. For more exports information, visit our dedicated page.

Serbia Exports Chart

Note: This chart displays Exports (G&S, ann. var. %) for Serbia from 2018 to 2024.
Source: Macrobond.

Serbia Exports Data

2020 2021 2022 2023 2024
Exports (G&S, ann. var. %) -4.6 20.4 17.0 2.7 3.2

GDP growth records slowest increase since Q4 2022 in Q1

GDP reading below expectations: According to a flash estimate, economic growth softened markedly in the first quarter, with GDP expanding 2.0% year on year (Q4 2024: +3.3 yoy). The figure surprised markets on the downside and marked the worst reading since Q4 2022.

Subdued domestic demand likely hampers growth: The release did not include a comprehensive breakdown, but monthly data suggests that domestic demand cooled, while the external sector likely continued to hamper growth; both retail sales and industrial output lost steam in the quarter, and the trade balance remained in the red. Moreover, persistent anti-government protests throughout the period and the government’s collapse likely dented momentum further. A detailed breakdown is set to be published on 2 June.

Panelist insight: Mate Jelic, analyst at Erste Bank, commented: “Looking ahead, the outlook has deteriorated in recent months. Student-led protests led to the collapse of the previous government. Although a new administration has recently taken office, valuable time and economic momentum have already been lost. Meanwhile, protests are ongoing, adding to political instability. On the external front, the global geopolitical environment remains highly uncertain, largely due to unpredictable developments under the new U.S. administration.”

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Serbian exports projections for the next ten years from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable exports forecast available for Serbian exports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Serbian exports projections.

Want to get access to the full dataset of Serbian exports forecasts? Send an email to info@focus-economics.com.

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