Quarterly GDP in Serbia increased by 5%

The real GDP growth in the first quarter of 2020, compared to the corresponding period of the previous year, amounted 5.0%, latest Statistical Office of the Republic of Serbia data shows.

According to seasonally adjusted GDP data, gross domestic product decreased by 0.6% in the first quarter of 2020, compared to the previous quarter.

Observed by activities, in the first quarter of 2020, compared to the same quarter of the previous year, significant real growth in the gross value added was recorded in the section of construction – 19.6%, the section of information and communication – 11.8%, the section of public administration and defence; compulsory social security; education and human health and social work activities – 11.8% and the section of industry and water supply, sewerage, waste management and remediation activities – 4.5%.

Observed by expenditure aggregates, in the first quarter of 2020, compared to the same quarter of the previous year, real growth was noted as follows:

  • the household final consumption expenditure – 3.2%,
  • the nonprofit institutions serving households (NPISH) final consumption expenditure – 3.4%,
  • the general government final consumption expenditure – 12.0%,
  • gross fixed capital formation – 10.7%,
  • the exports of goods and services – 3.1%,
  • and the import of goods and services – 8.3%.
- advertisment -