In January 2024, industrial output in the Republic of Serbia saw a 6.9% increase compared to January 2023. However, when compared to the 2023 average, there was a 4.1% decrease.
Breaking down the sectors, January 2024 showed the following changes compared to January 2023:
- The supply of electricity, gas, steam, and air conditioning sector experienced a significant growth of 11.7%.
- The manufacturing sector also saw a notable increase of 6.7%.
- However, there was a slight decline of 1.1% in the mining sector.
Analyzing industrial production by purpose groups in January 2024 compared to the same period last year, we observe growth in the production of intermediate goods (excluding energy) by 11.1%, non-durable consumer goods by 7.0%, capital goods by 6.9%, and energy by 4.9%. Conversely, there was a decrease in the production of durable consumer goods by 16.3%.
When examining January 2023 data against January 2023 figures, we note growth in 20 sectors, accounting for 73% of the industrial production structure, and a decline in 9 sectors, accounting for the remaining 27%.
The primary contributors to the rise in industrial production in January 2024 compared to January 2023 were the production of basic metals, electric energy, food products, computers, electronic, and optical products, as well as paper and paper products.
The seasonally adjusted index of industrial production for January 2024, compared to December 2023, showed a slight overall increase of 0.1% in industrial production, while there was a 1.3% decrease in the manufacturing sector. Additionally, compared to the 2023 average, there was a total increase of 2.3% in industrial production, with a 1.3% increase in the manufacturing sector.
Considering small enterprises (with fewer than 50 employees), which are not included in regular statistical surveys, industrial production decreased by 4.3% compared to the 2023 average, with a 10.9% decrease in the manufacturing sector.
Wage Costs In January 2024, the average gross wage in Belgrade stood at 165,239.00 RSD (1,410.18 EUR), while the average net wage was 119,988.00 RSD (1,024.00 EUR), after taxes and contributions.
Compared to January of the previous year, the gross average wage for January 2024 increased by 15.4% nominally and 7.4% in real terms, and the net average wage increased by 15.2% nominally and 7.3% in real terms.
The median net wage for January 2024 was 86,059 RSD, indicating that 50% of employees earned up to this amount.
Serbian Wage Statistics The gross average wage for January 2024 was 132,372.00 RSD (1,129.69 EUR), and the net average wage was 95,836.00 RSD (817.88 EUR), after taxes and contributions.
Compared to January of the previous year, both the gross and net average wages for January 2024 increased by 15.9% nominally and 8.9% in real terms.
Compared to December 2023, the gross average wage for January 2024 increased by 1.5% nominally and 1.2% in real terms, while the net average wage increased by 0.8% nominally and 0.5% in real terms.
The median net wage for January 2024 was 73,733 RSD, indicating that 50% of employees earned up to this amount.
