Serbia gross domestic product decreased by 9.2% in the second quarter

According to seasonally adjusted GDP data, gross domestic product decreased by 9.2% in the second quarter of 2020, compared to the previous quarter.

In the second quarter of 2020, compared to the same quarter of the previous year, significant real fall in the gross value added was recorded in the section of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage and accommodation and food service activities – 16.7%, the section of industry and water supply, sewerage, waste management and remediation activities – 7.7%, and the section of professional, scientific and technical activities; administrative and support service activities – 20.6%.

Significant real growth in the gross value added was recorded in the section of information and communication – 5.4% and the section of public administration and defence; compulsory social security; education and human health and social work activities – 7.1%.

Real growth was noted only for the general government final consumption expenditure – 8.9%.

Real fall was registered for all other aggregates: the household final consumption expenditure – 8.0%, the non-profit institutions serving households (NPISH) final consumption expenditure – 4.7%, gross fixed capital formation – 11.9%, the exports of goods and services – 20.7% and the import of goods and services – 19.3%.

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