GDP of Serbia grows by 3.5% in nominal terms and by 0.8% in real terms in 2015

The gross domestic product (GDP) of Serbia, at the current prices, amounted to RSD 4,043 billion in 2015, and was higher by 3.5% in nominal terms and by 0.8% in real terms than in the previous year, reported the Statistical Office of the Republic of Serbia on Friday, September 30.

The largest contributors were the manufacturing industry (15.6%), wholesale and retail and moto vehicle repair sector (10.2%), real estate sector (8.9%), and the sector of agriculture, forestry and fishing (6.8%).

The share of household final consumption expenditure in the GDP was 73.8%, of governmental final consumption expenditure 16.2%, of gross fixed capital formation 17.7%, of export of goods and services 46.7% and of import of goods and services 56.4%.

Observed by activities, in 2015 the real growth of Gross value added (GVA) was noted for the section of mining – 10.5%; the section of electricity, gas, steam and air conditioning supply – 9.9%, the section of accommodation and food service activities – 6.2%, for the section of wholesale and retail trade; repair of motor vehicles and motorcycles – 2.1% and the section of manufacturing – 1.9%.

The most expressive real fall of GVA was recorded for the section of agriculture, forestry and fishing – 7.7%; and for the section of administrative and support service activities, and the section of art, entertainment and recreation – by 2.2%.

Regarding the GDP use, the top real growth was noted for exports of goods and services – 10.2%, and imports of goods and services – 9.3%; while gross fixed capital formation also expressed real growth – 5.6%.

For government final consumption expenditure noted was real fall of 1.5%, the report states. In 2014, the GDP of Serbia was reduced by 1.8% in real terms, whereas in 2013, there was a growth of 2.6%.

Republički zavod za statistiku

gross domestic product of Serbia

GDP of Serbia