Serbia’s overall economic activity was 2.3 percent higher in 2022 than in 2021, the Republic Statistics Office (RZS) said on Thursday.

It said that the annual inflation rate is estimated at 15.1 percent with gross investments remaining at the same level as a year earlier. Agricultural production dropped 8 percent in 2022, industrial production rose by 1.5 percent and the processing industry reported a rise of 1.7 percent. The construction industry reported a drop of 11.8 percent.

The retail trade saw growth of 6.4 percent in real terms and the wholesale trade a nominal growth of 19 percent.

The employment rate in 2022 stood at 50.8 percent with an 8.9 percent unemployment rate.

Average gross salaries were 14.1 percent higher nominally than in 2021 and 2 percent higher in real terms.