MAT: GDP of Serbia Growing Faster Than Planned in First Two Months, But Inflation Twice as High as in EU

The real gross domestic product (GDP) of Serbia in the first two months of 2024 increased around 5.7% year-on-year, so the current dynamics exceed the projected annual growth rate of 3.5%, but the inflation is twice as high as in the EU, the new issue of the Makroekonomske analize i trendovi (MAT) monthly writes.

In February 2024, compared to the same month last year, industrial production increased 8.4%, thanks to the growth of the manufacturing industry.

In February, the first increase of the y-o-y value of external trade was registered after ten months of a continuous decline.

In the first two months of 2024, close to four fifths of the import of goods were covered by the exports (79.3%), and a year earlier, the value amounted to 75.7%.

The inflow of foreign direct investments was higher than last year in the same period, whereas the state budget has a surplus. As said, a “substantial” y-o-y growth of salaries and retail turnover was also registered.

Ekonomski Institut a.d. Beograd

Makroekonomske analize i trendovi

MAT

inflation

GDP growth