Serbia’s GDP growth slows down in Q4 of 2016

Serbia’s real GDP growth slowed to an annual 2.5% in the fourth quarter of 2016, from 2.8% in the previous quarter, the country’s statistic office said on Tuesday.

According to seasonally adjusted data, annual economic growth in the fourth quarter stood at 0.2%, following an increase by 0.5% in the third quarter of the year, data published on the statistics office website showed.

The fourth quarter of 2016 saw significant real growth in gross value added in agriculture – by 8.1%, and in wholesale and retail trade – by 3.9%. A real decline in the gross value added was recorded in the real estate sector – by 0.1%.

Household final consumption expenditure increased by a real 1.0% annually in the fourth quarter, whereas general government final consumption expenditure grew by 2.3%.

Gross fixed capital formation rose 2.6%, the exports of goods and services expanded by 13.8% and the import of goods and services increased by 5.9% annually in the fourth quarter of 2016.

On the other hand, industrial production grew by 2.8% in January 2017 relative to the same month in 2016, but compared to last year’s average it fell by 12.7%. The growth in processing industry was 8.2% higher than in January 2016, while the mining production fell by 4.4%. Other segments that recorded a drop are electricity and gas supply and HVAC.

(SEENews, Vecernje Novosti, 28.02.2017)

https://seenews.com/news/serbias-gdp-growth-slows-to-25-in-q4-559804

http://www.novosti.rs/vesti/naslovna/ekonomija/aktuelno.239.html:652381-Industrijska-proizvodnja-u-Srbiji-u-januaru-veca-28-odsto

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 consumption, Export, GDP
Mihajlovic: Our goal is for construction sector to account for 7% of GDP

European Commission: 3% economic growth and declining unemployment in Serbia in 2017

Close