Serbia’s GDP growth in 2019 at 6.8%

Serbia’s GDP was 6.8 percent higher nominally and 4.2 percent in real terms in 2019 than in 2018, the State Statistics Office (RZS) said on Thursday.

Serbia’s GDP stood at 5,417 billion Dinars in 2019, it said adding that the processing industry reported growth of 13.7 percent, the retail and wholesale trade sectors as well as motor vehicle repair growth of 11.4 percent, the real estate market 6.9 percent, agriculture, forestry and fisheries six percent and the construction industry 5.7 percent.  

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Gross fixed investments grew by 22.5%, exports of goods and services by 51% and imports of goods and services by 61%.

In 2019, real growth in gross value added (GVA) in construction was 33.7%, followed by the information and communication sector with 8.3%, the state administration and mandatory insurance sector with 7.5%, the wholesale and retail trade and motor vehicle repair sector with 6.2% and accommodation and catering services with 6%.

The real decline in GVA was recorded in the agriculture, forestry and fisheries sector (1.6%) and in the health and social protection sector -1.4%.

On the expenditure side, real growth was recorded in gross fixed investments of 17.2%, in imports of goods and services by 10.7%, in exports of goods and services by 7.7%, in consumer spending and individual consumption expenses in the household sector by 3.5%, in individual consumption expenses in the public sector by 2.6% and in collective consumption in the public sector by 1.3%.

(Politika, 01.10.2020)


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