Economy of Serbia
Population: 6.98 M (2018)
GDP per Capita: 7,247 USD (2018)
50,600 M.

GDP USD

(2018)

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25,690 M.

EXPORTS USD

(2018)

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30,000 M.

IMPORTS USD

(2018)

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52.90 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 4.39 % (2018)
GDP of 2010 USD USD 48.10 B. (2018)
GDP Current USD USD 50.60 B. (2018)
GDP per Capita Current USD USD 7,247 (2018)
GDP per capita, PPP USD 16,049 (2018)
GDP per Capita, 2010 USD USD 6,887 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 16.56 % (2018)
Government Spending USD 8.38 B. (2018)
Government Debt % GDP 52.90 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 104.39 (2018)
Trade Openness 110.07 % (2018)
Exports of Goods and Services % GDP 50.78 % (2018)
Exports Goods & Services USD 25.69 B. (2018)
Exports Annual Growth 8.30 % (2018)
Imports as % GDP 59.29 % (2018)
Total Imports USD 30.00 B. (2018)
Foreign Direct Investment % GDP 8.12 % (2018)
Foreign Direct Investment USD 4.11 B. (2018)
Current Account Balance % GDP USD -5.20 % (2018)
Current Account Balance USD -2.63 B. (2018)
Trade Balance % GDP -8.52 % (2018)
Trade Balance USD -4.89 B. (2018)
Foreign Exchange Reserves incl Gold USD 12.87 B. (2018)
Remittances % GDP 8.55 % (2018)
Remittances USD 4,042 M. (2018)
Balance of Payments USD 645 M. (2018)

Labor Market

Indicator Value
Labor Force 3.17 M. (2019)
Unemployment Rate 13.51 % (2019)
Unemployment Rate Females 13.78 % (2019)
Unemployment Rate Males 11.81 % (2019)
Youth Unemployment (ages 15-24) 32.23 % (2019)
Labor Force Participation Rate 53.94 % (2019)
Labor Force (Percent Female) 44.50 % (2019)
Female Labor Force Participation Rate 46.56 % (2019)
Male Labor Force Participation Rate 61.80 % (2019)
Dependent People 51.60 % (2018)

Agriculture Sector

Indicator Value
Forest Area 31.10 % (2016)
Forest Area km² 27,214 km² (2016)
Agricultural Land 39.33 % (2016)
Agricultural Land km² 34,400 km² (2016)
Employment 16.95 % (2019)
Value added % GDP 6.34 % (2018)
Agriculture Value added USD 3.21 B. (2018)
Crop Production Index 106.50 (2016)
Precipitation 686 mm (2012)
Arable Land 30 % (2016)
Cereal Yield 3,968 kg/hectare (2017)
Food production index 99 (2016)
Rural Population 44 % (2018)
Fertilizer use of Arable Land 245 kg/hectare (2016)
Livestock Production Index 101 (2016)
Economy of Serbia

According to the World Bank and its latest published data, the economy of the Serbia presents a growth rate of 4.39 % (2018) to the previous year.

With a population that reaches 6.98 M (2018) and a gross domestic product of USD 50.60 B. (2018), it translates a Gross Domestic Product per Capita of USD 7,247 placing its inhabitants on the threshold of an Upper middle income country (according to the World Bank's updated classification).

Serbia also has a workforce of 3.17 M. (2019) with an unemployment rate of 13.51 % (2019), where women represent 13.78 % (2019) and men 11.81 % (2019), the unemployment rate for young people between 15-24 years old stood at 32.23 % (2019). The total number of dependent people stands at 51.60 % (2018).

The central government spent 16.56 % (2018) of its gross domestic product that year, which in absolute terms is USD 8.38 B. (2018). Its consolidated public debt reached 52.90 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Serbia exported USD 25.69 B. (2018), which represents 50.78 % (2018) of its gross domestic product, in that same sense its imports reached USD 30.00 B. (2018) with a direct foreign investment of USD 4.11 B. (2018).

Serbia has a forest area of 27,214 km² (2016), which represents 31.10 % (2016) of its total area, an average rainfall of 686 mm (2012) per year and a population of 44 % (2018) living in rural areas. With a total area of 34,400 km² (2016) available for agriculture and 16.95 % (2019) of its employments, the agricultural sector contributes to the economy of the Serbia about USD 3.21 B. (2018) (6.34 % (2018) of its GDP).