Industrial production in Serbia increased by 2.3% year-on-year in April 2025, driven primarily by a 2.9% growth in manufacturing, the National Bank of Serbia (NBS) reported, citing data from the Statistical Office of the Republic. The energy sector showed stagnation, while mining experienced a slight decline of 0.5% compared to the previous year.
Within manufacturing, the largest positive contribution came from petroleum derivatives production, partly due to a low base effect caused by refinery maintenance in Pančevo in April 2024. Additionally, there was notable growth in the production of other transport equipment, motor vehicles, and rubber and plastic products, reflecting the expansion of capacities in the automotive industry.
For the first four months of 2025, industrial production recorded a year-on-year growth of 2.1%, supported by a 3.6% increase in mining and a 3.5% rise in manufacturing. Conversely, the energy sector declined by 4.5% during this period.
Retail trade turnover in April grew modestly by 0.4% compared to the same month last year, with a cumulative 0.8% increase for January to April 2025.
However, the tourism sector saw a downturn in April, with tourist arrivals dropping by 8.5% and overnight stays decreasing by 10.8% year-on-year. This decline was fully attributed to domestic tourism, as visits by local tourists fell by 16.3% and overnight stays by 20.4%. For the January–April period, the number of tourist arrivals was down by 2.8%, and overnight stays decreased by 4.2%.
In terms of foreign trade, merchandise exports in euros increased by 8.2% year-on-year from January to April 2025, while imports grew by 12.5%.
According to the Labor Force Survey, the unemployment rate in the first quarter of 2025 stood at 9.1%, a 0.3 percentage point decrease compared to the same period last year. Employment rates also improved, rising by 0.5 percentage points to 51.4%.
