Statistical Office of the Republic of Serbia publishes the results of the annual estimation of Gross domestic product (GDP) for the year 2018, by production and expenditure approach, at current and constant prices.
Gross domestic product in 2018 at current prices amounted to RSD 5 068 588.5 million. When compared to the previous year, GDP increased by 6.6% in nominal terms.
Observed by activities, in 2018 the major share in the GDP creation was noted for the section of manufacturing, 14.5%, the section of wholesale and retail trade and repair of motor vehicles, 11.5%, the section of real estate activities, 7.0%, the section of agriculture, forestry and fishing, 6.3% and the section of information and communication, 4.8%. On the other side, in the GDP use, the share for household final consumption expenditure equalled 68.1%, government final consumption expenditure – 16.6%, gross fixed capital formation – 20.1%, exports of goods and services – 50.8%, and imports of goods and services – 59.3%.
The real GDP growth in 2018, related to the previous year, amounted 4.4%.
By activities, in 2018 in the section of agriculture, forestry and fishing expressed the real growth of Gross value added (GVA) equalling 15.2%, the section of construction – 12.8%, the section of wholesale and retail sale and repair of motor vehicles – 7.3%, the section of transportation and storage – 5.6%, the section of accommodation and food service activities – 8.0% and the section of information and communication – 5.5%. The real fall of GVA was noted for the section of mining and quarrying, 4.7%, as well as in the section of professional, scientific and technical activities, 1.4%. Observed on the expenditure side, the top real growth was noted for gross fixed capital formation, 17.8%. Exports of goods and services and imports of goods and services expressed the real growth of 8.3%, i.e. 11.6%, respectively. Final consumption expenditures expressed the real growth rate of 3.2%, of which the real growth of household final consumption expenditure equalled 3.0%. The individual consumption expenditure of general government expressed the real growth of 4.2%, and the collective consumption expenditure expressed growth of 2.9%.
Please note that further to previous announcements, the series of revised data for the entire period from 1995 to 2017 has been completed and now is available in the database of the Statistical Office of the Republic of Serbia.