The growth of the Gross Domestic Product (GDP) in Serbia for this year will be 2.5% compared to 2022, as announced by the Statistical Office of the Republic of Serbia (RZS) on Friday. Gross investments in fixed assets in 2023, measured by real growth rates, are expected to increase by 3.5% compared to the previous year.
In the current year, agricultural production has achieved a growth in physical volume of nine percent. The growth of industrial production will be 2.4 percent, with processing industries increasing by 0.5 percent.
The value of construction works in 2023 records a real growth of 8.9 percent compared to the previous year.
Retail trade turnover has experienced a real decline of 1.8 percent, while wholesale trade turnover is nominally one percent lower.
Foreign trade in goods, in euros, in 2023, compared to 2022, will see a four percent increase in exports and a six percent decrease in imports.
Within the Accommodation and Food Service sector, a real growth in hospitality of 8.8 percent is estimated for 2023, while the number of tourist nights has increased by 1.9 percent.
In 2023, compared to 2022, there has been a 21.3 percent increase in the physical volume of transportation and a 0.5 percent decrease in the physical volume of telecommunications.
According to the results of the Labor Force Survey, in the third quarter of 2023, the employment rate is 50.7 percent, while the unemployment rate is nine percent.
Average earnings before taxes and contributions in 2023, compared to the previous year, have increased nominally by 15 percent and, in real terms, by 2.6 percent.
The estimated annual inflation rate is 7.6 percent, as stated in the RZS announcement.
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