By far the most productive worker in Serbia deals with real estate, but mostly in a foreign company. In one year, he managed to create almost 27 million dinars in gross added value. He was nine times more productive than the average result of other employees.
This could be read from the data on the gross added value realized per worker in 2022, which were presented in the publication “Operation of enterprises in the Republic of Serbia”, published by the Republic Statistical Office.
Gross value added represents the total value of production less intermediate consumption, so this indicator can be seen as a concrete result of the economic activity of a country. A more detailed analysis, says the economy, above all of its structure, provides insight into which economic activities are more profitable.
The state is also important in information
And in Serbia in 2022, things are like this – the largest contribution, viewed by sector, was made by the processing industry. The total VAT was 3,812 billion dinars, and the processing industry contributed 1,167 billion dinars. Almost all of it is the performance of the private sector, of which almost 53 percent of companies are majority foreign owned.
Second in merit is wholesale and retail trade, which added 726 billion dinars. Here, domestic private companies have the main say, which bear 70 percent of the credit. Information and communications added 440 billion dinars. Foreign and domestic private companies each contribute 40 percent, but the state sector is not to be underestimated here either – it contributes 17 percent to the GVA. This is followed by construction with a contribution of 325 billion dinars and transport and storage with 248 billion BVD.
“The gross added value of companies in the Republic of Serbia in 2022 was 3,812 billion dinars, and in 2021 it was 3,211 billion dinars, which represents an increase of 18.7 percent,” statistics show. “GVA in the private property sector in 2022 amounted to 3,500 billion dinars, while in the state property sector it was realized in the amount of 301 billion dinars. From a territorial point of view, 2,839 billion or 74.4 percent of the total VAT was generated in the territory of Serbia-North, and 972 billion or 25.6 percent in the territory of Serbia-South.
Each miner 9.58 million dinars
The order of profitability looks completely different when GVA is distributed among employees. On average, mining comes out on top, because in this activity each worker created 9.58 million dinars. In the private sector, even 11.9 million per head. Employees in mostly foreign companies came to 17.6 million dinars. In contrast to them, workers in the state mining sector created 197,500 dinars of gross added value each.
Those engaged in real estate business bring 7.22 million dinars of added value per year. A worker in our private companies contributed five million, but a colleague from a majority foreign company contributed more than five times that amount. State-owned companies are below the average here – 1.8 million dinars is contributed by each employee.
This is followed by information and communications, where the VAT per employee was 5.3 million dinars, but here the state dominates. In the private sector, the average is 5.3 million per worker, and in the state – 7.3 million.
“Gross added value per employee, for companies in 2022, amounted to 2.9 million dinars, and in 2021 it was 2.5 million, which is an increase of 15.7 percent,” the publication states. “From a territorial point of view, VAT per employee was 3.17 million dinars in the territory of Serbia – North, and 2.4 million dinars in the territory of Serbia – South”.
And profit in equal parts
There is also a calculation of how much each employee contributed to their employer. At the level of Serbia, those who worked in profitable companies brought in an average of 966,930 dinars in net profit, as much as 26 percent more than in 2021.
“For privately owned companies in 2022, the net profit per employee was 1.08 million dinars, of which 1.69 million was in companies with 50 percent or more of foreign capital, while in other private ownership it was 844,670 dinars.” For state-owned enterprises, the net profit per employee was 291,720 dinars, statistics show.
Observed by activities, the highest amount of net profit per employee was in mining – 6.28 million dinars. This is followed by financial activities and insurance activities with 5.5 million dinars, and real estate business with 4.35 million dinars.
When it comes to those who operated with a loss, each employee contributed to the result with a net loss of RSD 289,130. For privately owned companies, the net loss per employee was 190,760 dinars, of which 244,010 dinars were foreign. The state is in a worse situation here, for state-owned companies, the net loss per employee was 874,050 dinars.
According to statistics, 108,316 companies were registered in 2022. There were 105,947 of them in private ownership, of which 2,914 were with predominantly foreign capital. There were 1,444 enterprises in state ownership, and 925 in other forms of ownership.
