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29.12.2019. -
Economic trends in the Republic of Serbia in 2019

The estimates on the overall economic activity in the Republic of Serbia in 2019, measured by the real trends of Gross domestic product (GDP), indicate a growth of 4.0% when related to the year 2018.

According to estimations, the gross fixed capital formation in 2019, if related to 2018, expressed a real growth that equals 14.2%.

In 2019 industrial production expressed physical volume growth of 0.3% in comparison to the previous year. For agricultural production in 2019 related to 2018, a physical volume fall of 0.1% was recorded.

The value of construction works carried out in 2019 noted a real growth of 28.5% in comparison to 2018. The retail trade turnover expressed real growth of 9.2%, while the wholesale trade turnover expressed growth of 5.1% in nominal terms. In 2019 the section of accommodation and food service activities expressed real growth of 9.1%, while the number of tourist overnight stays increased by 7.6% when related to 2018. For the section of transportation and storage estimated is physical volume growth of 6.4%, and for the division of telecommunications growth of 5.7%. The estimated external trade in goods, given in EUR value and when 2019 is related to 2018, indicate growth of exports by 8.0% and growth of imports by 7.8%.

Based on the results of the Labour Force Survey, expressive is increased employment and decreased unemployment rate. In the third quarter 2019 the rate of employment reached 49.6% and unemployment rate equalled 9.5%.

Net salaries and wages (taxes and contributions deducted), when 2019 is related to 2018, increased by 10.3% in nominal terms and by 8.5% in real terms.

Annual inflation rate was estimated to equal 1.9%.