Serbia’s economic output grew by a real 0.4% year-on-year in the fourth quarter of 2022, the country’s statistical office said in a flash estimate.
More details on the growth of Serbia’s gross domestic product (GDP) in the fourth quarter will be released on February 28, the statistical office said in a statement.
In the third quarter of 2022, Serbia’s economy grew by an estimated 1% year-on-year, the statistical office said in November.
In 2021, Serbia’s economy expanded by 7.4%, after shrinking by 0.9% in the previous year.
Observed by sector, in December 2022, compared to the same month in 2021, the following trends were recorded – mining sector – growth of 28.9 percent, electricity, gas, steam and air conditioning supply sector – growth of 11.3 percent, and the manufacturing sector – a drop of 3.4 percent.
Data on industrial production by dedicated groups in December 2022, compared to the same month of the previous year, show that there was a growth in the production of capital products (13.1 percent), and energy (9.5 percent), while the decline recorded in the production of intermediate products, except energy (1.5), non-durable consumer goods (4.3), and durable consumer goods (12.4 percent).
The volume of industrial production in December 2022, compared to December 2021, recorded growth in 15 areas (participation in the structure of industrial production – 56 percent), and a decrease in 14 areas (participation in the structure of industrial production – 44 percent).
Exploitation of metal ores, production of coke and petroleum derivatives, production of machinery and equipment, production of computers, electronic and optical products, and production basic pharmaceutical products and preparations had the biggest influence on the growth of industrial production in 2022, compared to 2021.
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