Economic growth of 2.74% compared to 2015

The overall economic activity in 2016, measured by the gross domestic product and expressed in constant prices, recorded a 2.74% growth relative to 2015, said the National Statistical Office.

The gross investments in basic funds in 2016, compared to 2015, had a 6.1% growth.  Also, the industrial production in 2016 grew by 4.3% while the agricultural production also followed suit and had a real growth of 8.1%

For the Serbian construction sector, 2016 was an excellent year. The sector has recorded a real increase of 6% compared to last year. Other industrial sectors also had a successful year including retail which recorded a 7.8% hike, wholesale 0,9%, and hospitality 7.4% (with the number of overnight stays growing by 13,5% relative to 2015), while the transportation and storage sector had an 8,1% hike and telecommunications 1,3% .

In the Q3 of 2016, employment rate stood at 46.8%, while unemployment rate was 13.8%. It has also been estimated that gross wages in 2016 nominally went up by 3.7%, and realistically by 2.5%. The estimated inflation rate this year was 1.6%.

(Blic, 29.12.2016)

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