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Serbia’s industrial production grows 4.4% in May 2025, driven by manufacturing and capital goods

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Industrial production in Serbia increased by 4.4% in May 2025 compared to May 2024, but was 0.3% lower than the average for 2024, according to the Statistical Office of the Republic of Serbia. From January to May 2025, industrial production rose by 2.5% compared to the same period in 2024.

By sector, manufacturing grew by 7%, while mining declined by 4.4%, and electricity and gas supply fell by 5.7%. In May 2025, production of capital goods increased by 16.5%, intermediate goods (excluding energy) by 10%, durable consumer goods by 2.9%, and non-durable consumer goods by 2.8%. Energy production dropped by 8.1%.

The volume of industrial production in May 2025 rose in 18 sectors representing 50% of total production, while 11 sectors (also 50% of total production) saw declines. The largest contributors to growth were motor vehicles and trailers, rubber and plastic products, other transport equipment, metal products (excluding machinery), and basic metals.

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The seasonally adjusted industrial production index for May 2025 was stable compared to April 2025, with manufacturing showing a slight decline of 0.5%. Compared to the 2024 average, the seasonally adjusted index showed an overall industrial growth of 1.2%, and manufacturing growth of 2.1%.

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