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Rising trends: Construction sector growth in Serbia’s first quarter of 2024

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In the first quarter of 2024, the value of construction works carried out in the territory of the Republic of Serbia increased by 22% in current prices, while in constant prices, the growth amounted to 18.3% compared to the first quarter of 2023, as reported by the Statistical Office of the Republic of Serbia.

Breaking it down by type of buildings, the value of works on residential buildings rose by 8.3%, while for other structures, it increased by 23.3%, in constant prices.

In the first quarter of 2024, compared to the same period in 2023, the value of construction works, in constant prices, increased in all regions as follows: in the South and East Serbia Region by 25.5%, in the Vojvodina Region by 22.9%, in the Belgrade Region by 17.0%, and in the Ĺ umadija and West Serbia Region by 11.3%.

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Out of the total value of works in the Republic of Serbia, 98.3% were carried out domestically, while the remaining 1.7% were completed on construction sites abroad.

The value of works performed by contractors from the Republic of Serbia in the first quarter of 2024, for projects executed both domestically and internationally, increased by 20.2% compared to the first quarter of 2023, in current prices, with a growth of 16.6% in constant prices.

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