The real decline in the gross domestic product in Serbia in the second quarter of 2020 amounted to 6.4 percent compared to the same period a year earlier, the Republic Bureau of Statistics announced today.
According to seasonally adjusted data, in the second quarter, compared to the previous quarter, a decline in GDP of 9.2 percent was recorded.
In the second quarter, the Serbian economy fell due to the coronary virus pandemic and emergency measures taken to curb its spread, with the result being the second best in Europe.
Observed by activities, in the reporting period, the real decline in gross value added registered in the wholesale and retail trade sector and repairs of motor vehicles, transport and storage and accommodation and food services, of as much as 16.7 percent, was observed at the annual level.
In the sector of industry and water supply and wastewater management, the decline was 7.7 percent, and in the sector of professional, scientific, innovative and technical activities and administrative and auxiliary service activities, 20.6 percent.
Significant real growth of gross value added was achieved in the information and communication sector of 5.4 percent, and in the sector of state administration and compulsory social insurance, education and health and social protection, 7.1 percent.
Observed by aggregates of GDP use, in the second quarter, on an annual level, real growth was recorded only in expenditures for final consumption of the state, of 8.9 percent, while the real decline was recorded in all fixed aggregates, Srbija Danas reports.
