Serbia GDP Growth Rate

The Gross Domestic Product (GDP) in Serbia contracted 1 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Serbia is reported by the Statistical Office of the Republic of Serbia. GDP Growth Rate in Serbia averaged 0.64 Percent from 2001 until 2013, 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. 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. . This page provides - Serbia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-1.00 1.40 5.50 -2.70 1.36 | 2014/06 2001 - 2013 Percent Quarterly

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Serbia GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-28 11:00 AM Serbia
GDP Growth Rate QoQ
Q1 2013 1.9% -0.3% 0.54%
2013-09-30 11:00 AM Serbia
GDP Growth Rate QoQ
Q2 2013 0.3% 1.9% 0.35%
2013-12-30 11:00 AM Serbia
GDP Growth Rate QoQ
Q3 2013 1.4% 0.1% (R) 1.07%
2014-03-31 11:00 AM Serbia
GDP Growth Rate QOQ
Q4 2013 -1.0% 1.4% 1.28%
2014-04-30 11:00 AM Serbia
GDP Growth Rate QoQ Flash
Q1 2014 -1.0% 1.37%
2014-06-30 11:00 AM Serbia
GDP Growth Rate QOQ
Q1 2014 -1.0% 1.37%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 781673.10 2013-11-15 773779.40 781673.10 269265.80 1020960.47 2014-06-30 RSD Million [+]
GDP 37.49 2012-12-31 43.29 47.76 6.08 36.14 2014-06-30 USD Billion [+]
GDP Annual Growth Rate 2.70 2013-12-31 3.80 14.00 -4.00 3.54 2014-06-30 Percent [+]
GDP per capita 3855.70 2012-12-31 3903.55 5024.74 2078.58 3783.77 2014-06-30 USD [+]
GDP per capita PPP 9683.17 2012-12-31 9803.33 12619.10 5220.12 9502.53 2014-06-30 USD [+]
GDP Growth Rate -1.00 2013-12-31 1.40 5.50 -2.70 1.36 2014-06-30 Percent [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Serbia Current Account at -48.80 USD Million  
Serbia recorded a Current Account deficit of 48.80 USD Million in January of 2014. Current Account in Serbia is reported by the National Bank of Serbia.
Serbia Consumer Price Index (CPI) at 179.10 Index Points  
Consumer Price Index (CPI) in Serbia decreased to 179.10 Index Points in March of 2014 from 179.70 Index Points in February of 2014. Consumer Price Index (CPI) in Serbia is reported by the Statistical Office of the Republic of Serbia.
Serbia Employed Persons at 2394004.00  
The number of employed persons in Serbia increased to 2394004 in the third quarter of 2013 from 2227432 in the first quarter of 2013. Employed Persons in Serbia is reported by the Statistical Office of the Republic of Serbia.
Serbia GDP Constant Prices at 781673.10 RSD Million  
GDP Constant Prices in Serbia increased to 781673.10 RSD Million in the fourth quarter of 2013 from 773779.40 RSD Million in the third quarter of 2013. GDP Constant Prices in Serbia is reported by the Statistical Office of the Republic of Serbia.
Serbia Money Supply M0 at 111020.00 RSD Million  
Money Supply M0 in Serbia decreased to 111020 RSD Million in March of 2014 from 114558 RSD Million in February of 2014. Money Supply M0 in Serbia is reported by the National Bank of Serbia.
Serbia Unemployed Persons at 788.71 Thousand  
The number of unemployed persons in Serbia increased to 788.71 Thousand in January of 2014 from 769.55 Thousand in December of 2013. Unemployed Persons in Serbia is reported by the Statistical Office of the Republic of Serbia.
Serbia Wages at 44057.00 RSD  
Wages in Serbia increased to 44057 RSD in February of 2014 from 37966 RSD in January of 2014. Wages in Serbia is reported by the Statistical Office of the Republic of Serbia.
Serbia Exports at 1194.00 USD Million  
Exports in Serbia increased to 1194 USD Million in February of 2014 from 998 USD Million in January of 2014. Exports in Serbia is reported by the Statistical Office of the Republic of Serbia.
Serbia Imports at 1649.00 USD Million  
Imports in Serbia increased to 1649 USD Million in February of 2014 from 1356 USD Million in January of 2014. Imports in Serbia is reported by the Statistical Office of the Republic of Serbia.
Serbia Social Security Rate For Employees at 17.90 Percent  
The Social Security Rate For Employees in Serbia stands at 17.90 percent. Social Security Rate For Employees in Serbia is reported by the Institute for Social Insurance.
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