Serbia records best industrial production indicators in three decades

Serbia’s industrial production growth in January 2024 was 6.9% and is the highest one in the past three decades, according to the latest issue of the Macroeconomic Analyses and Trends (MAT) monthly.

The manufacturing sector led the industry’s growth, while products of medium-high technological complexity led the way regarding exports. The value of those products, whose growth amounted to 12.5% compared to the previous year, was EUR 1.16 billion.

The growth of the production of high-tech goods was 15.6%, and their exported value was EUR 135.7 million.

“The drop in inflation is producing positive effects on the year-on-year calculation of the real salaries, which increased 4.9% in December,” MAT reports.

The inflation increased in January 2024 month-on-month (m-o-m) and decreased year-on-year (y-o-y).l In December 2023 and January 2024, m-o-m inflation of 0.1% and 0.3% was recorded, and y-o-y inflation amounted to 7.6% and 6.4% respectively. In January 2024, the reduction of y-o-y inflation, which had begun in April 2023, continued, so y-o-y inflation in February 2024 was 5.5%.

In December 2023 and January 2024, Serbia had a higher y-o-y inflation than the EU average and lower m-o-m inflation than only one EU member state. In December 2023 and January 2024, y-o-y inflation, according to the concept of a harmonized consumer price index amounted to 7.5% and 6.4% in Serbia, and 3.4% and 3.1% in the EU.

Serbia had a lower y-o-y inflation than the Czech Republic in December 2023 and a lower y-o-y inflation than Romania in January 2024. In December 2023, y-o-y inflation reached 7.6% in the Czech Republic, and in January 2024, it reached 7.3% in Romania.

(eKapija, 10.03.2024)

This post is also available in: Italiano

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