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GDP grows 1.3 percent in second quarter - Serbia Business

GDP grows 1.3 percent in second quarter

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Serbia’s GDP grew in real terms and year-on-year by 1.3 percent in the second quarter, Beta has reported, citing the state Statistical Office.

Relative to the first quarter of the year, the non-seasonal growth of GDP in the second quarter was 0.5 percent, while the first quarter of 2017 GDP increased by one percent relative to the same period in 2016, the Statistical Office announced on Thursday.

Gross added value grew in motor vehicle wholesale, retail and repair, transportation and accommodation and food, water supply and wastewater management, state administration and mandatory social insurance, education, health and social protection, while it declined in the agricultural sector, forestry and fishing and construction.

The state budget plans for a three percent GDP growth this year – “but because of a poor agricultural season it is estimated that it will be lower,” Beta reported.