Serbia GDP Annual Growth Rate

Last Release

Sep 30, 2024

Actual

3.1

Units In

4.2

Frequency

Quarterly

Next Release

Feb 28, 2025

Time to Release

2 Months 25 Days 12 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 advanced by 3.1% over a year ago in the third quarter of 2024, matching the preliminary estimate and following an upwardly revised 4.2% rise in the previous three-month period. This marked the slowest expansion since Q2 2023, as both household consumption (3.9% vs 4.7% in Q2) and government spending (2.6% vs 4.6%) slowed down, while fixed investment picked up (9.1% vs 7.8%). At the same time, net external demand contributed negatively to the GDP, as exports (3.2% vs 4.6% in Q2) rose much less than imports (14.4% vs 8.4%). On a seasonally adjusted quarterly basis, the Serbian GDP increased by 0.5% in Q3, after a 0.9% rise in the previous period.