Serbian town in the winter

Serbia Industry

Serbia Industry

Industrial Production in Serbia

Serbia recorded average industrial production growth of 2.6% in the decade to 2022, below the 3.2% average for Eastern Europe. In 2022, Serbia's industrial production growth was 1.6%. For more industry information, visit our dedicated page.

Serbia Industry Chart

Note: This chart displays Industrial Production (annual variation in %) for Serbia from 2014 to 2023.
Source: Macrobond.

Serbia Industry Data

2019 2020 2021 2022 2023
Industrial Production (ann. var. %) 0.2 0.4 6.1 1.6 2.4

Industrial output rises in June

Industrial output grew 2.0% in year-on-year terms in June, which contrasted May's 1.1% decrease. The improvement was driven by a rebound in manufacturing production and a smaller decline in air conditioning supply output. That said, mining and quarrying output rose at a slower pace. Meanwhile, annual average industrial production growth rose to 1.9% in June (May: +1.5%). This signals an improving trend in the industrial sector. On a monthly basis, industrial production increased 0.8% in seasonally adjusted terms in June, which was below May’s 2.8% expansion.

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 industry projections for the next ten years from a panel of 3 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 industry forecast available for Serbian industry.

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

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

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