Serbia’s GDP: 2.7% growth in 2016

The realistic GDP growth in the Q4 of 2016 in Serbia, compared to the same period last year, was 2.5% – the Serbian Statistical Office says. The projected GDP for 2016 was 1.75%, but the annual growth actually stood at 2.7%. The projected GDP growth in 2017 is 3%.

Last year, retail sales in Serbia grew by 7.4% in current prices, and 7.5% in constant prices – the state’s Statistical Office announces. Compared to December 2015, the sales grew by 9.0% in current prices, and 6.8% in permanent prices.

In December 2016, industrial production recorded a 3.9% hike relative to the same month in 2015, while the industrial production in processing industry grew by 8.2%. Mining production recorded a 3.1% decline, while the power, gas, steam and HVAC supply also fell by 6.3%.

The value of Serbia’s foreign trade in 2016 amounted to $34.14 billion in 2016, which is an 8.1% growth compared to last year, while, expressed in Euros, it stood at 30.82 billion which is an 8.4% hike.

Serbia exported a total of $14.88 billion worth of goods and services (an 11.2% growth), and imported $19.26 billion (a 5.7% growth compared to 2015).

The export to import ratio stood at 77.3%, compared to 73.5% in 2015. Serbia mainly exported to Italy, Germany, Bosnia and Herzegovina, Romania and the Russian Federation, while  Germany, Italy, China, Russia and Hungary were the country’s main import partners.

(Blic, 31.01.2017)

http://www.blic.rs/vesti/ekonomija/zavod-za-statistiku-rast-bdp-u-2016-27-odsto-razmena-3414-milijardi-evra/y4qrwvq

A small favour

Since 2013, Serbian Monitor has been offering to its readers carefully selected news about the Republic of Serbia, as a daily commitment stemming from the genuine desire to offer undistorted information about a country that is too often a victim of prejudice and superficiality. From November 2016, this service is available in English and Italian with a growing number of original articles with a goal of providing a complete picture of this Balkan country's economy, politics, culture and society. Our archive is completely free of charge, available to anyone who wants to get to know the country, to study its specific aspects, or to be constantly updated about it. This project will only be able to continue with the help of readers on whom we are calling to provide a small financial support so that we can continue supplying an increasingly expanding pool of information and original contributions. If you appreciate our work, please click on the button below.

This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top
More in Export, GDP, Import, industrial production
Vujovic: Working towards sustainable level of public debt
Draft 2017 budget approved
Close