The value of construction works carried out in Serbia in 2019 increased by 35% compared to 2018, according to the latest data from the Statistical Office of the Republic of Serbia.
In the fourth quarter, the value of construction works carried out compared to the same quarter of 2018 jumped by 56.3%.
The figure also exceeded the previous record growth in the third quarter of 2019, where the value of construction works had increased by 39.9%, which was the highest growth rate in a single quarter since 2010.
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Fast completion and implementation of major infrastructure projects, as well as favourable investment conditions, have facilitated high growth rates of construction in recent years (11.4% in 2017, 13.9% in 2018 and 35% in 2019). This has also led to an increase in the share of the construction sector in the national GDP from 3.2% in 2014 to over 5% in 2019.
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