GDP in Serbia
Serbia - GDP
Growth slows at the end of 2018
According to a flash estimate released by the Statistical Office of the Republic of Serbia on 31 January, economic growth softened in the final quarter of the year, rounding out an overall weaker H2 compared to the robust growth seen in H1. GDP grew 3.5% in annual terms in Q4, down from the 3.8% expansion logged in Q3.
Weakness in the quarter likely stemmed in good part from the external sector as imports continued to grow robustly and outpace exports in light of solid domestic demand. Moreover, exports appeared to have been dragged on by the 100% import tariffs slapped on Serbian goods by neighboring Kosovo. Nevertheless, the domestic economy should have remained the main driver of growth. Consumer spending appears to have grown at a solid pace in Q4, thanks to a tighter labor market and rising wages, and as shown by strong retail sales throughout the quarter. Fixed investment also likely remained strong on FDI inflows and infrastructure projects.
A full breakdown of the reading by components will be released on 28 February.
Serbia GDP Forecast
FocusEconomics Consensus Forecast panelists expect growth of 3.5% in 2019, unchanged from last month’s forecast, and 3.2% in 2020.
Serbia - GDP Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 2.6 | -1.8 | 0.8 | 2.8 | 1.9 |
Serbia GDP Chart
Serbia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.70 | 0.0 % | Feb 14 |
| Exchange Rate | 104.5 | -0.31 % | Feb 14 |
| Stock Market | 1,526 | -0.44 % | Feb 14 |
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Economic News
Serbia: National Bank of Serbia maintains policy in February
February 7, 2019
At its 7 February monetary policy meeting, the Executive Board of the National Bank of Serbia (NBS) voted to keep the key policy rate steady at 3.00%, where it has been since April 2018. The Bank’s decision to stand pat was primarily guided by sustained price stability.
Serbia: Industrial production tumbles to an over-four year low in December
January 31, 2019
According to data released by the Statistical Office of the Republic of Serbia, industrial production plunged 6.3% over the same month of the prior year in December, following the 1.0% dip recorded in November.
Serbia: Growth slows at the end of 2018
January 31, 2019
According to a flash estimate released by the Statistical Office of the Republic of Serbia on 31 January, economic growth softened in the final quarter of the year, rounding out an overall weaker H2 compared to the robust growth seen in H1.
Serbia: Inflation remains subdued in December
January 11, 2019
According to the Statistical Office of the Republic of Serbia, consumer prices rose 0.1% over the previous month in December, following the 0.3% decrease logged in November.
Serbia: National Bank of Serbia holds rates in January
January 10, 2019
On 10 January, the Executive Board of the National Bank of Serbia (NBS) voted to keep the key policy rate steady at 3.00%, where it has been since April 2018. Low and stable inflation again led the Bank to keep the rate unchanged at its latest monetary policy meeting.
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