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29.12.2022. -
Economic trends in the Republic of Serbia in 2022

The total economic activity of the Republic of Serbia in 2022, measured by the real movements of the Gross domestic product (GDP), was estimated to make the growth of 2.3% when related to 2021.

In 2022 gross fixed capital formation, measured by the real growth rates, is on the unchanged level as in 2021.

In 2022 agricultural production made the physical volume fall of 8.0%. In 2022 industrial production expressed the growth of 1.5%, and manufacturing – the growth of 1.7%.

The value of construction works carried out in 2022 expressed the real fall of 11.8% in comparison to 2021. Retail trade turnover recorded real growth equalling 6.4%, while the wholesale trade turnover increased by 19.0% in nominal terms. When 2022 is related to 2021, external trade in goods expressed in euros indicated the growth of exports by 23.5%, and the growth of imports by 33.0%. Within the section of accommodation and food service activities, in 2022 the real growth of catering industry equalling 40.6% was estimated, while the number of tourist overnight stays increased by 37.5%. When 2022 is related to 2021, transportation expressed physical volume growth of 23.1%, and for telecommunications recorded was physical volume fall of 1.5%.

According to the data of the Labour Force Survey, in the third quarter 2022 the rate of employment equalled 50.8% and the rate of unemployment 8.9%.

When 2022 is related to 2021, average salaries (wages) taxes and contributions deducted increased by 14.1% in nominal terms, and by 2.0% in real terms.

The estimated annual inflation rate equals 15.1%.