According to the Indicator of Economic Activity of Serbia (IPAS), the total economic activity in June recorded a real growth of 2.1 percent compared to the same month of the previous year, announced the Ministry of Finance.
As stated, the monthly dynamics of economic activity continued to grow year-on-year during 2023, despite the negative impact of geopolitical tensions.
The most significant positive contribution came from the construction industry due to the accelerated implementation of infrastructure projects, and partly due to the base effect.
Service activities continued to have a positive impact on the dynamics of economic activity with a growth of 1.8 percent, but with a still present decline in the trade sector, which recorded a real decrease in turnover to a little over six percent.
In June, the industry achieved a slight growth of 0.5 percent year-on-year, with the manufacturing industry leaving the negative zone year-on-year. For agriculture, the current estimate of the Ministry of Finance was used, according to which the growth is about 10 percent.
The Ministry of Finance, for the purposes of continuous monitoring of economic activity and early identification of the activation of economic growth risks, based on short-term indicators, creates a composite indicator of economic activity of Serbia – IPAS, as an indicator of the economic movement in monthly dynamics.
Sign up for business updates & specials.
