Serbia GDP Annual Growth Rate

Last Release

Jun 30, 2024

Actual

4.2

Units In

4.6

Frequency

Quarterly

Next Release

Dec 02, 2024

Time to Release

2 Months 28 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
26.2 Jun 2000	-21.5 Jun 1999	3.21 %	1997-2024	Statistical Office of the Republic of Serbia

On the expenditure side, household consumption is the main component of Serbia's GDP and accounts for 76 percent of its total use, followed by gross fixed capital formation (17 percent) and government expenditure (18 percent). Exports of goods and services account for 44 percent of GDP while imports account for 54 percent, subtracting 10 percent of total GDP.

Latest Updates

Serbia’s economy rose by 4% from a year earlier in the second quarter of 2024, slightly below the preliminary estimate of 4.2% and following a downwardly revised 4.6% growth in the previous three-month period. The expansion was driven by household consumption (4.8% vs 4.4% in Q1), government spending (4.5% vs 3.6%) and fixed capital formation (8.5% vs 7.5%). Meanwhile, net trade contributed negatively to the GDP as imports (8.5% vs 3.5%) increased much more than exports (4.4% vs 1.3%). On a seasonally adjusted quarterly basis, the Serbian GDP increased by 0.8% in Q2, after a downwardly revised 0.7% rise in the previous quarter.