Economic activity in Serbia in 2022 is 2.3% higher than in 2021

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The total economic activity in Serbia this year, according to estimates, measured by the real movement of gross domestic product (GDP), was 2.3 percent higher than in 2021, the Republic Statistical Office announced today.

The estimated annual inflation rate is 15.1 percent.

Gross investments in fixed assets in 2022, measured by real growth rates, were at the same level as the previous year, it was stated in the announcement.

This year, agricultural production had a decline in physical volume of eight percent, industrial growth of 1.5 percent, and processing growth of 1.7 percent.

The value of construction works in 2022 decreased by 11.8 percent in real terms compared to the previous year.

Turnover in retail trade achieved a real growth of 6.4 percent, while turnover in wholesale trade was nominally higher by 19 percent.

Foreign trade goods exchange, in euros, this year, compared to 2021, shows a growth of exports by 23.5 percent, and a growth of imports by 33 percent.

Within the accommodation and catering services sector, real growth in catering was estimated this year by 40.6 percent, while the number of overnight stays by tourists increased by 37.5 percent.

As stated, in this year compared to 2021, an increase in the physical volume of traffic of 23.1 percent was registered, but a decrease in the physical volume of telecommunications by 1.5 percent.

According to the results of the Labor Force Survey, in the third quarter of this year the employment rate was 50.8 percent, while the unemployment rate was 8.9 percent.

Average earnings without taxes and contributions this year, compared to the previous year, were nominally higher by 14.1 percent, and in real terms by two percent, BizLife reports.

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