Serbia: economy

What is Serbia's GDP growth rate?

Serbia's GDP was 3.8% higher in the second quarter of 2026 than a year earlier, according to the Statistical Office of the Republic of Serbia (RZS). Seasonally adjusted, it grew 1.5% on the previous quarter. Household consumption rose 4.0%, exports of goods and services 4.1% and imports 5.2%.

These are the RZS quarterly national accounts, at constant prices. Year-on-year growth compares a quarter with the same quarter of the previous year. Quarter-on-quarter growth uses seasonally adjusted data, which remove regular patterns within the year. The figures are revised when annual accounts are compiled.

Official sources: RZS: quarterly GDP, Q2 2026

How big is Serbia's economy?

Serbia's GDP was RSD 10,558,438 million in 2025, according to the Statistical Office of the Republic of Serbia (RZS). In real terms it grew 2.1% on 2024, and in nominal terms 8.1%. Manufacturing made up 12.2% of GDP. Value added in construction fell 6.3% in real terms.

This is the annual national accounts estimate, in current prices and Serbian dinars. Real growth removes the effect of price changes; nominal growth includes them, so the gap between 2.1% and 8.1% reflects rising prices. The RZS revises annual figures as fuller source data arrive.

Official sources: RZS: annual GDP, 2025

What is the interest rate in Serbia?

The key policy rate of the National Bank of Serbia (NBS) is 5.75%, kept unchanged at the meeting of 8 October 2026. The deposit facility rate is 4.5% and the lending facility rate 7.0%. The next rate-setting meeting is on 12 November 2026.

The key policy rate is the rate on the central bank's main operations with banks, and it feeds through to loan and deposit rates. The NBS statement gives inflation of 2.2% in August, expected to be around 4% from September, against a target of 3% plus or minus 1.5 percentage points. It put growth in economic activity in the first half of 2026 at 3.5%.

Official sources: NBS: monetary policy decision, 8 October 2026

What is the inflation rate in Serbia?

Consumer prices in Serbia were 4.1% higher in September 2026 than a year earlier, according to the Statistical Office of the Republic of Serbia (RZS). Prices rose 0.2% during the month and 3.3% since December 2025.

The consumer price index measures changes in the prices of goods and services bought by households. The annual rate compares a month with the same month a year before. The National Bank of Serbia targets inflation of 3%, with a band of plus or minus 1.5 percentage points, and uses this index to measure it.

Official sources: RZS: consumer prices, September 2026

What is Serbia's economic growth rate?

According to the World Bank, real GDP growth in Serbia was 2.0% in 2025. Since 2005 it has ranged from -3.1% (2009) to 7.9% (2021). Europe & Central Asia median: 2.1%; Serbia is 26th highest of 49. Worldwide: 129th of 180.

How rich is Serbia per person?

According to the World Bank, GDP per person in Serbia was $15,262 in 2025. That is the highest since at least 2005. Across Europe & Central Asia the middle value was $28,420, and Serbia placed 34th highest of 49. Of 180 countries with 2025 data, 60th highest.

How does Serbia's income per person compare after prices?

In 2025, GDP per person at purchasing power parity in Serbia was $33,910 in international dollars, according to the World Bank. That is the highest since at least 2005. Europe & Central Asia median: $50,946 in international dollars; Serbia is 37th highest of 49. World rank, highest first: 61st of 179.

How much does Serbia export?

According to the World Bank, exports of goods and services in Serbia was 54.3% of GDP in 2025. Its high point since 2005 was 2022, at 60.7% of GDP; its low point was 2009, at 25.3% of GDP. It is 18th highest of 46 in Europe & Central Asia, where the median is 47.7% of GDP. Of 133 countries with 2025 data, 32nd highest.

What is Serbia's current account balance?

In 2025, the current account balance in Serbia was -4.9% of GDP, according to the IMF (a deficit). Since 2007 it has ranged from -19.4% of GDP (2008) to -2.4% of GDP (2023). It is 38th highest of 47 in Europe & Central Asia, where the median is -0.3% of GDP. World rank, highest first: 102nd of 132.

What is FDI in Serbia?

The latest figure from the IMF, for 2025, is 3.9% of GDP. Since 2007 it has ranged from 2.8% of GDP (2012) to 9.9% of GDP (2007). It is 8th highest of 49 in Europe & Central Asia, where the median is 1.9% of GDP. Worldwide: 47th of 179.