Construction is the key driver of GDP

Record-breaking employment in the construction sector in March

The construction of new houses and holiday homes is not slowing down.

In the coming period, infrastructural investments will contribute the most to this sector. The number of issued construction permits in Serbia increased in April, which is not surprising given that construction activity is in full swing and is one of the key drivers of economic growth this year.
In March 2024, there were 129,000 workers employed in the construction sector, which is about seven per cent more compared to March 2021, a record year for activity in the construction sector. We see an increase in permits in both segments: high-rise construction saw a 39 percent increase, and low-rise construction saw a 34 per cent increase in April, year-over-year. Interestingly, the construction of new houses and holiday homes (which gained momentum in the post-pandemic period) continues unabated, with 21 per cent more permits issued.

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