Gross Domestic Product, 2022

The Statistical Office of the Republic of Serbia releases the preliminary results of the annual GDP calculations for the year 2022, as well as the final data for 2021. 

Observed by activities, in 2022 the major share in the GDP by production method was noted for the section of manufacturing – 13.5%, the section of wholesale and retail trade and repair of motor vehicles – 12.0% and the section of real estate activities – 6.9%. Regarding by the aggregates of GDP use, the share of individual consumption expenditure of households equaled 67.1%, individual consumption expenditure of government sector – 9.4%, collective consumption expenditure of government sector – 6.8%, gross fixed capital formation – 24.2%, exports of goods and services – 63.8%, and imports of goods and services – 74.8%.

Regarding by activities, in 2022 significant real growth of gross value added (GVA) created in the section off accommodation and food service equaling 32.0%, the section of mining and quarrying – 23.3% and the section of arts, entertainment and recreation – 9.2%. Real fall of GVA was noted for the section of construction – 9.8%, the section of agriculture, forestry and fishing – 8.3% and the section of electricity, gas, steam and air conditioning supply – 6.8%. Observed on expenditure side, real growth was noted for all aggregates: individual consumption expenditure of household sector – 3.9%, individual consumption expenditure of government sector – 0.2%, collective consumption expenditure of government sector – 0.6%, gross fixed capital formation – 1.9%, exports of goods and services – 16.6% and imports of goods and services – 16.1%.

The Statistical Office of the Republic of Serbia announces the major (benchmark) revision of national accounts, which will take place in 2024. Revised data on the gross domestic product (GDP) and other macroeconomic indicators of the system of national accounts for 2023, based on the upgraded methodology and new data sources, will be published in regular dynamics according to the SORS calendar of releases, together with the corresponding series of recalculated data for the period 1995 - 2022.

Methodological explanations

For methodological explanations related to the GDP annual calculations see the SORS website:  https://www.stat.gov.rs/en-US/istrazivanja/methodology-and-documents/?a=09&s=090201

More detailed and extensive data series at current and constant prices are available on the SORS website, in database: https://data.stat.gov.rs/?caller=090201&languageCode=en-US

More information about the upcoming benchmark revision of national accounts can be found on the SORS website. 

Starting from 1999 the Statistical Office of the Republic of Serbia has not at disposal and may not provide available data relative to AP Kosovo and Metohija; therefore, these data are not included in the coverage for the Republic of Serbia (total).