Serbia GDP Annual Growth Rate

Last Release

Mar 31, 2024

Actual

4.6

Units In

3.8

Frequency

Quarterly

Next Release

Sep 02, 2024

Time to Release

3 Months 1 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
26.2 Jun 2000	-21.5 Jun 1999	3.2 %	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 grew by 4.7% from a year earlier in the first quarter of 2024, slightly above preliminary estimates of 4.6%, and up from a 3.8% rise in the previous three-month period. It marks the strongest growth rate since the last quarter of 2021, mainly boosted by fixed investment (+7.3%) and household consumption (+4.4%). Government spending rose by 3.6%. Meanwhile, net trade contributed negatively to the GDP growth as exports increased by 1.1% whereas imports surged by 3.2%. On a seasonally adjusted quarterly basis, the Serbian GDP increased by 0.8% in Q1, after an upwardly revised 1% rise in the previous quarter.