Statistics office says Serbia’s GDP up in 2024

It said that the figures are based on the preliminary results of the annual GDP calculations for 2024, as well as the revised preliminary data for 2023 and the final data for 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%,” a press release said.

It added that real growth was noted for all GDP aggregates: individual household consumption expenditures – 5.2%, individual general government consumption expenditure – 3.0%, general govenrment collective consumption expenditures – 5.2%, 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%.