The Statistical Office of the Republic of Serbia releases the preliminary results of the annual GDP calculations for the year 2024, as well as the revised preliminary data for the year 2023 and the final data for the year 2022, based on the results of the supply and use tables.
Observed by activities, in 2024 the major share in the GDP by production approach was noted for the section of manufacturing – 12.7%, the section of wholesale and retail trade and repair of motor vehicles – 10.0% and the section of information and communication – 8.5%. Regarding by the aggregates of GDP use, the share of individual consumption expenditure of households equaled – 61.1%, individual consumption expenditure of government sector – 9.5%, collective consumption expenditure of government sector – 7.9%, gross fixed capital formation – 23.8%, exports of goods and services – 53.6%, and imports of goods and services – 58.1%.
Regarding by activities, in 2024 significant real growth of gross value added (GVA) was created in the section wholesale and retail trade and repair of motor vehicle – 6.2%, the section of manufacturing – 4.6% and the section of information and communication – 6.8%. Significant real fall of GVA was noted for the section of agriculture, forestry and fishing – 7.0% and the section of electricity, gas, steam and air conditioning supply – 4.9%.
The real growth was noted for all aggregates of GDP use: the individual consumption expenditures of household sector – 5.2%, the individual consumption expenditure of general government – 3.0%, collective consumption expenditures of general government of – 5.2%, the individual consumption expenditure of non-profit institutions serving households (NPISH) – 6.7%, gross fixed capital formation – 7.7%, exports of goods and services – 5.2% and imports od goods and services – 8.0%.
1. Gross domestic product and Gross national income
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| GROSS DOMESTIC PRODUCT – total, RSD mill. | 7460139 | 8817909 | 9748259 |
| Gross domestic product - per capita, RSD | 1119393 | 1331370 | 1480042 |
| Average population number in mid-year, thousand | 6664.4 | 6623.2 | 6586.5 |
| GROSS DOMESTIC PRODUCT – total, USD mill. | 66691 | 81335 | 90098 |
| Gross domestic product - per capita, USD | 10007 | 12280 | 13679 |
| Average exchange rate, USD/RSD | 111.8607 | 108.4143 | 108.1965 |
| GROSS DOMESTIC PRODUCT – total, EUR mill. | 63513 | 75205 | 83258 |
| Gross domestic product - per capita, EUR | 9530 | 11355 | 12641 |
| Average exchange rate, EUR/RSD | 117.4588 | 117.2513 | 117.0851 |
| GROSS NATIONAL INCOME – total, RSD mill. | 7107736 | 8344945 | 9137214 |
| GROSS NATIONAL INCOME – total, USD mill. | 63541 | 76973 | 84450 |
| GROSS NATIONAL INCOME – total, EUR mill. | 60513 | 71172 | 78039 |
2. Gross value added, by activities, and Gross domestic product
– Current prices –
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| RSD mill. | |||
| A - agriculture, forestry and fishing | 398218 | 333893 | 309241 |
| B - mining and quarrying | 241979 | 250181 | 285602 |
| C - manufacturing | 1107050 | 1171950 | 1236745 |
| D - electricity, gas, steam and air conditioning supply | 111540 | 161740 | 157332 |
| E - water supply; sewerage, waste management and remediation activities | 64357 | 71683 | 76727 |
| F - construction | 356637 | 440987 | 492727 |
| G - wholesale and retail trade; repair of motor vehicles and motorcycles | 756449 | 917766 | 978907 |
| H - transportation and storage | 289014 | 359385 | 373241 |
| I - accommodation and food service activities | 99561 | 137749 | 157751 |
| J - information and communication | 524551 | 721223 | 826785 |
| K - financial and insurance activities | 218729 | 354578 | 514954 |
| L - real estate activities | 515564 | 646596 | 679240 |
| M - professional, scientific and technical activities | 357287 | 469972 | 540195 |
| N -Administrative and support service activities | 164007 | 211164 | 229490 |
| O - public administration and defence; compulsory social security | 369549 | 410790 | 444140 |
| P - education | 266090 | 303613 | 351174 |
| Q - human health and social work activities | 292534 | 337771 | 376351 |
| R - arts, entertainment and recreation | 110877 | 124953 | 147000 |
| S - other service activities | 79314 | 92541 | 104498 |
| T - activities of households as employers; undifferentiated goods- and services-producing activities of households for own use | 5397 | 7443 | 6614 |
| U - activities of extraterritorial organisations and bodies | ... | ... | ... |
| Gross value added (GVA) | 6328703 | 7525977 | 8288715 |
| Taxes on products | 1263048 | 1355115 | 1525569 |
| Subsidies on products (-) | 131613 | 63184 | 66026 |
| GROSS DOMESTIC PRODUCT (GDP) | 7460139 | 8817909 | 9748259 |
| Structure, % | |||
| A - agriculture, forestry and fishing | 5.3 | 3.8 | 3.2 |
| B - mining and quarrying | 3.2 | 2.8 | 2.9 |
| C - manufacturing | 14.8 | 13.3 | 12.7 |
| D - electricity, gas, steam and air conditioning supply | 1.5 | 1.8 | 1.6 |
| E - water supply; sewerage, waste management and remediation activities | 0.9 | 0.8 | 0.8 |
| F - construction | 4.8 | 5.0 | 5.1 |
| G - wholesale and retail trade; repair of motor vehicles and motorcycles | 10.1 | 10.4 | 10.0 |
| H - transportation and storage | 3.9 | 4.1 | 3.8 |
| I - accommodation and food service activities | 1.3 | 1.6 | 1.6 |
| J - information and communication | 7.0 | 8.2 | 8.5 |
| K - financial and insurance activities | 2.9 | 4.0 | 5.3 |
| L - real estate activities | 6.9 | 7.3 | 7.0 |
| M - professional, scientific and technical activities | 4.8 | 5.3 | 5.5 |
| N -Administrative and support service activities | 2.2 | 2.4 | 2.4 |
| O - public administration and defence; compulsory social security | 5.0 | 4.7 | 4.6 |
| P - education | 3.6 | 3.4 | 3.6 |
| Q - human health and social work activities | 3.9 | 3.8 | 3.9 |
| R - arts, entertainment and recreation | 1.5 | 1.4 | 1.5 |
| S - other service activities | 1.1 | 1.0 | 1.1 |
| T - activities of households as employers; undifferentiated goods- and services-producing activities of households for own use | 0.1 | 0.1 | 0.1 |
| U - activities of extraterritorial organisations and bodies | ... | ... | ... |
| Gross value added (GVA) | 84.8 | 85.3 | 85.0 |
| Taxes on products | 16.9 | 15.4 | 15.6 |
| Subsidies on products (-) | 1.8 | 0.7 | 0.7 |
| GROSS DOMESTIC PRODUCT (GDP) | 100.0 | 100.0 | 100.0 |
3. Gross value added, by activities, and Gross domestic product
– Constant prices (previous year prices) –
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| RSD mill. | |||
| A - agriculture, forestry and fishing | 313850 | 427820 | 310473 |
| B - mining and quarrying | 201124 | 247248 | 274235 |
| C - manufacturing | 962043 | 1116984 | 1225761 |
| D - electricity, gas, steam and air conditioning supply | 93508 | 126355 | 153805 |
| E - water supply; sewerage, waste management and remediation activities | 56557 | 62609 | 70386 |
| F - construction | 310174 | 393951 | 458489 |
| G - wholesale and retail trade; repair of motor vehicles and motorcycles | 698095 | 786385 | 974317 |
| H - transportation and storage | 252643 | 306319 | 371467 |
| I - accommodation and food service activities | 87383 | 116407 | 147425 |
| J - information and communication | 469082 | 596892 | 770215 |
| K - financial and insurance activities | 188038 | 221909 | 374416 |
| L - real estate activities | 492241 | 521732 | 649434 |
| M - professional, scientific and technical activities | 330206 | 398282 | 508929 |
| N -Administrative and support service activities | 154809 | 181802 | 220008 |
| O - public administration and defence; compulsory social security | 329348 | 360571 | 410825 |
| P - education | 257069 | 266013 | 316413 |
| Q - human health and social work activities | 272521 | 293717 | 338176 |
| R - arts, entertainment and recreation | 101280 | 112075 | 138736 |
| S - other service activities | 78945 | 81751 | 98114 |
| T - activities of households as employers; undifferentiated goods- and services-producing activities of households for own use | 5273 | 6987 | 6062 |
| U - activities of extraterritorial organisations and bodies | ... | ... | ... |
| Gross value added (GVA) | 5654189 | 6625808 | 7817684 |
| Taxes on products | 1137623 | 1262979 | 1410422 |
| Subsidies on products (-) | 38006 | 149046 | 61897 |
| GROSS DOMESTIC PRODUCT (GDP) | 6753805 | 7739740 | 9166209 |
| Real growth rates, % | |||
| A - agriculture, forestry and fishing | -7.4 | 7.4 | -7.0 |
| B - mining and quarrying | 34.0 | 2.2 | 9.6 |
| C - manufacturing | 1.1 | 0.9 | 4.6 |
| D - electricity, gas, steam and air conditioning supply | -0.7 | 13.3 | -4.9 |
| E - water supply; sewerage, waste management and remediation activities | -12.5 | -2.7 | -1.8 |
| F - construction | -9.5 | 10.5 | 4.0 |
| G - wholesale and retail trade; repair of motor vehicles and motorcycles | -3.8 | 4.0 | 6.2 |
| H - transportation and storage | 6.5 | 6.0 | 3.4 |
| I - accommodation and food service activities | 15.6 | 16.9 | 7.0 |
| J - information and communication | 14.1 | 13.8 | 6.8 |
| K - financial and insurance activities | 0.7 | 1.5 | 5.6 |
| L - real estate activities | 2.6 | 1.2 | 0.4 |
| M - professional, scientific and technical activities | 7.3 | 11.5 | 8.3 |
| N -Administrative and support service activities | 5.9 | 10.8 | 4.2 |
| O - public administration and defence; compulsory social security | -1.1 | -2.4 | 0.0 |
| P - education | 9.6 | 0.0 | 4.2 |
| Q - human health and social work activities | 2.5 | 0.4 | 0.1 |
| R - arts, entertainment and recreation | 24.0 | 1.1 | 11.0 |
| S - other service activities | 0.3 | 3.1 | 6.0 |
| T - activities of households as employers; undifferentiated goods- and services-producing activities of households for own use | 19.6 | 29.5 | -18.6 |
| U - activities of extraterritorial organisations and bodies | ... | ... | ... |
| Gross value added (GVA) | 2.6 | 4.7 | 3.9 |
| Taxes on products | 3.2 | 0.0 | 4.1 |
| Subsidies on products (-) | 2.4 | 13.2 | -2.0 |
| GROSS DOMESTIC PRODUCT (GDP) | 2.7 | 3.7 | 3.9 |
More tables for this topic:
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
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).