The overall economic activity in Serbia in 2023, measured by the real movement of gross domestic product (GDP), shows growth of 2.5 percent compared to 2022, as announced today by the Statistical Office of the Republic of Serbia.
Gross investments in fixed assets in 2023, measured by rates of real growth in economic activity, recorded an increase of 3.5 percent compared to the previous year.
Agricultural production achieved a physical volume growth of nine percent in 2023, while during the same period, industrial production showed an increase of 2.4 percent, and manufacturing industry increased by 0.5 percent. The value of construction works in 2023 registered a real growth of 8.9 percent compared to the previous year, while retail trade turnover experienced a real decline of 1.8 percent, and wholesale trade turnover decreased nominally by one percent.
Foreign trade in goods, in euros, in 2023 indicates a four percent increase in exports and a six percent decrease in imports compared to 2022.
Within the accommodation and food service sector in 2023, there is an estimated real growth of 8.8 percent in hospitality, while the number of tourist overnight stays increased by 1.9 percent.
In 2023, compared to 2022, there was a recorded increase in the physical volume of traffic by 21.3 percent and a decrease in the physical volume of telecommunications by 0.5 percent.
Unemployment rate at nine percent
According to the Labor Force Survey, in the third quarter of 2023, the employment rate stands at 50.7 percent, while the unemployment rate is at nine percent.
Average wages without taxes and contributions in 2023, compared to the previous year, increased nominally by 15 percent and by 2.6 percent in real terms.
The estimated annual inflation rate is 7.6 percent.
All data on economic movements in 2023 presented in this statement are estimated based on available and previously published data, as stated by the Statistical Office of the Republic of Serbia.
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