Serbia GDP Growth Rate
The Gross Domestic Product (GDP) in Serbia contracted 0.30 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in Serbia averaged 0.63 Percent from 2001 until 2014, reaching an all time high of 5.50 Percent in the first quarter of 2004 and a record low of -2.70 Percent in the first quarter of 2005. GDP Growth Rate in Serbia is reported by the Statistical Office of the Republic of Serbia.
||2001 - 2014
Serbia's economy depends on manufacturing and exports, driven by foreign direct investments. It is estimated that only in 2011, the country attracted more than 2 billion dollars in FDI. The FDI are concentrated in a variety of industries including metal processing, building, textile, beverage, electronics and financial. However, due to historical reasons the state still accounts for a large part of economic activity, but reforms are being implemented to change this. In 2008, Serbia signed a Stability and Association Agreement with the European Union and in 2009 submitted its formal application for membership.
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