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30.12.2021. -
Economic trends in the republic of Serbia in 2021

The total economic activity of the Republic of Serbia in 2021, measured by the real movements of the Gross domestic product (GDP), was estimated to made the growth of 7.5% when related to 2020.

In 2021 gross fixed capital formation recorded the real growth equalling 14.1% in comparison to 2020.

In 2021 agricultural production made the physical volume fall of 5.0%. In 2021 industrial production expressed the growth of 6.3%, and manufacturing – the growth of 5.5%.

The value of construction works carried out in 2021 expressed the real growth of 17.1% in comparison to 2020. Retail trade turnover recorded real growth equalling 9.8%, while the wholesale trade turnover increased by 22.0% in nominal terms. When 2021 is related to 2020, external trade in goods expressed in euros indicated the growth of exports by 25.5%, and the growth of imports by 24.0%. Within the section of accommodation and food service activities, in 2021 the real growth of catering industry equalling 72.7% was estimated, while the number of tourist overnight stays increased by 29.7%. When 2021 is related to 2020, transportation expressed physical volume growth of 39.9%, and telecommunications recorded growth of 2.9%.

According to the data of the Labour Force Survey, in the third quarter 2021 the rate of employment equalled 50.0% and the rate of unemployment – 10.5%.

When 2021 is related to 2020, average salaries (wages) taxes and contributions deducted increased by 8.9% in nominal terms, and by 4.6% in real terms.

The estimated annual inflation rate equals 7.8%.