Real growth of Serbian economy in second quarter 2%

The gross domestic product (GDP) of Serbia rose by 2% in real terms in the second quarter of 2016, relative to the same period last year, reported the Statistical Office of Serbia on Thursday, September 1.

According to the seasonally adjusted data, the GDP remained on the same level in the second quarter relative to the first one.

A significant real growth of gross added value y-o-y was recorded in the construction sector (6.1%), followed by the financial sector and the insurance sector (3.9%), as well as the wholesale and retail sectors, motor vehicles repair, transport and storage, accommodation and catering by 3% each.

The fall of the gross added value was registered in the industrial sector and the water supply and waste water management sector, by 0.6%.

Real growth was recorded in all GDP aggregates compared to the corresponding period of 2015.

Household expenditures increased by 1.3%, and expenditures of non-profit institutions providing service to households increased by 0.3%, state expenditures by 4.6%, gross investments in basic funds by 4.9%, export of goods and services by 10% and import of goods and services by 12.3%.

Republički zavod za statistiku

gross domestic product of Serbia

GDP of Serbia

GDP growth