The Serbian economy grew by 3.5% year-on-year in the third quarter of this year, according to a flash estimate by the State Statistics Office (RZS).
The calculation of the quarterly GDP for the third quarter of 2023, which is more detailed and performed at lower levels of aggregation, will be published in the bulletin Quarterly GDP in the Republic of Serbia on November 30, 2023, RZS announced.
At the same time, data for industrial production in September have also been calculated. Production is higher by 3% compared to September 2022, and compared to the average of 2022, it went up by 3.1%.
Industrial production from January to September 2023 compared to the same period in 2022 increased by 2.4%.
The current seasonally adjusted index for September 2023, compared to August 2023, shows a decrease of 1.1% for the industry as a whole and a growth of 1.0% for the manufacturing industry.
Observed by sector, in September 2023, compared to September 2022, the following trends were recorded: mining sector – growth of 1.1%, manufacturing industry – growth of 3.0% and electricity, gas supply, steam and air conditioning – growth of 3.9%.
September failed, but exports in 2023 remain in the plus
Exports of the Serbian economy generated 2.4 billion euros in September, which is a drop of 5.7%, while imports amounted to 2.98 billion euros, a 10.5% decline relative to the same month last year.
Serbia’s total external trade in goods for the period January – September 2023 amounted to 48.7 billion euros and declined 1.3% compared to the same period last year.
In the same period, export of goods stood at 21.5 billion euros, which is a 5.6% increase compared to the same period last year. Imports were 27.2 billion euros were imported, which is 6.1% less relative to the same period last year.
The deficit amounted to 57 billion euros, which is a decrease of 33.9% compared to the same period of the previous year.
The export to import ratio was 79.0%, up from 70.1% from last year.
The top five exported products were sets of conductors for aeroplanes, vehicles and ships ($161 million), electricity ($86 million), copper ore and concentrate with 77 million dollars, refined copper ($65 million) and parts and accessories for motor vehicles ($52 million).
The top five imported products were crude oil ($197 million), medication for retail sale ($92 million), natural gas ($52 million), electricity ($50 million) and electrical conductors ($39 million).
(Biznis i Finansije, 01.11.2023)
https://bif.rs/2023/11/srpska-ekonomija-belezi-pad-uvoza-ali-i-pad-izvoza/