In the second quarter of 2024, Serbia’s real gross domestic product (GDP) rose by 4.0% compared to the same period last year, according to data released by the Republic Institute of Statistics.
Seasonally adjusted data shows a 0.8% increase in GDP from the previous quarter. Notably, substantial real growth was recorded in several sectors: wholesale and retail trade, motor vehicle repair, transportation, storage and accommodation and food services experienced a 7.1% increase. The construction sector grew by 7.2%, while public administration, compulsory social security, education, and health and social protection saw a 4.4% rise.
In contrast, the agriculture, forestry, and fishing sector saw a decline of 4.1%.
When analyzing GDP use aggregates, all categories showed real growth compared to the same period last year. Household final consumption expenditures rose by 4.8%, expenditures by non-profit institutions serving households (NPISH) increased by 4.2%, government final consumption expenditures grew by 4.5%, gross fixed capital investment surged by 8.5%, exports of goods and services were up by 4.4%, and imports of goods and services climbed by 8.5%, as reported by Tanjug.
