Serbia's economy in numbers:
Nominal GDP of USD 75.2 billion in 2023.
Nominal GDP of USD 63.5 billion in 2022.
GDP per capita of USD 9,532 compared to the global average of USD 10,589.
GDP per capita of USD 11,322 compared to the global average of USD 10,589.
Average real GDP growth of 2.7% over the last decade.
Average real GDP growth of 2.4% over the last decade.
Economic structure:
In 2021, services accounted for 69% of overall GDP, manufacturing 13%, other industrial activity 11%, and agriculture 7%. Looking at GDP by expenditure, private consumption accounted for 65% of GDP in 2021, government consumption 17%, fixed investment 26%, and net exports -8%.International trade:
In 2007, manufactured products made up 66% of total merchandise exports, mineral fuels 3%, food 19%, ores and metals 10% and agricultural raw materials 2%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 69% of total merchandise imports, mineral fuels 17%, food 6%, ores and metals 6% and agricultural raw materials 2%, with other goods accounting for 0% of the total. Total exports were worth USD 28 billion in 2022, while total imports were USD 38 billion.Economic growth:
The economy recorded average annual growth of 2.3% in the decade to 2022. To read more about GDP growth in Serbia, go to our dedicated page.
Fiscal policy:
Serbia's fiscal deficit averaged 3.3% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 15.3% in the decade to 2022. For more information on Serbia's unemployment click here.
Inflation:
Inflation averaged 4.0% in the decade to 2022. Go to our Serbia inflation page for extra insight.
Monetary Policy:
Serbia's monetary policy rate ended 2022 at 5.00%, down from 11.25% a decade earlier. See our Serbia monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the dinar weakened by 22.5% vs the U.S. dollar. For more info on the dinar, click here.
52 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 26 expert analysts.
Want to get insight on the economic outlook for Serbia in the coming years? FocusEconomics collects projections out to 2034 on 52 economic indicators for Serbia from a panel of 26 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. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Serbia economy. To download a sample report on the Serbia's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.