NBS: Growth of industrial production continues

According to SORS data, in January–May 2024 industrial production continued up to 2.0% y-o-y, led by the upswing in manufacturing (2.7%) and mining (9.9%), while receiving headwinds from the energy sector, which contracted by 4.3%, announced the National Bank of Serbia (NBS).

In May 2024, industrial production declined by 1.1% y-o-y. Mining was up by 28.9% y-o-y, while the energy sector and manufacturing were down by 9.9% and 2.0% y-o-y, respectively.

– Such trends can be associated with non-working holiday days in early May, as indicated by a 2.7% s-a rise in total industry and a 2.1% increase in manufacturing in May relative to April – says the press release.

Retail trade turnover rose by 6.6% in real, m-o-m terms, or 7.7% y-o-y in January–May.

In May, the number of tourist arrivals increased by 16.9% y-o-y and the number of tourist overnight stays by 14.0% y-o-y. In May, the number of arrivals and overnight stays of foreign tourists was higher by 30.2% and 23.1% y-o-y, respectively. In January–May 2024, the number of tourist arrivals and overnight stays was up by 11.1% and 8.2% y-o-y, respectively.

When it comes to foreign trade, goods exports declined by 3.3% y-o-y in May, but remained higher by 3.3% in January–May compared to the same period a year before. Y-o-y, goods imports gained 0.6% in May and 1.2% in January–May.

Republički zavod za statistiku Beograd

Narodna banka Srbije Beograd

Statistical Office of the Republic of Serbia

National Bank of Serbia

NBS

industrial production

retail turnover