Statistical Office and Eurostat: Serbia grows three times faster than EU in first quarter, GDP higher by 3%

The Serbian economy achieved growth of 3% in the first quarter of 2026, which is significantly above the average of the European Union and the eurozone, according to data from the Statistical Office of the Republic of Serbia and Eurostat.

According to a preliminary estimate by the Statistical Office, Serbia’s real gross domestic product increased by 3% compared to the same period last year. A more detailed calculation of quarterly GDP will be published on June 1.

At the same time, Eurostat announced that the European Union economy grew by 1% annually in the first quarter of 2026, while the eurozone grew by 0.8%. On a quarterly basis, both the EU and the eurozone recorded growth of only 0.1%.

This means that Serbia grew approximately three times faster than the average of the European Union and almost four times faster than the eurozone countries in the first three months of this year.

Europe slowing down

Preliminary data from Eurostat indicate a continued slowdown in the European economy. Annual GDP growth in the EU fell from 1.4% in the last quarter of 2025 to 1% in the first quarter of this year, while growth in the euro area slowed from 1.3% to 0.8%.

The European economy is facing weaker industrial activity, slower investment and increased uncertainty in global markets, which has led to more cautious growth forecasts for 2026.

Exports increase

The latest data from the Statistical Office show that Serbia, along with GDP growth, recorded a strong increase in exports.

Serbia’s total foreign trade in goods in the period January-April reached USD 30.3 billion, which is 13.7% more than a year earlier. Exports increased by 18.5%, while imports increased by 10%. At the same time, the trade deficit decreased by 19.1% in dollars, or 26.1% in euros. The export-import coverage increased from 77.5% to 83.5%.

Serbia’s largest foreign trade partner remains the European Union, which accounts for 59% of the country’s total trade.

Among fastest growing economies in Europe

The Serbian government estimated that the 3% growth rate places the domestic economy among the more successful European economies in the first quarter of the year, with the contribution of industry, trade, tourism and foreign trade.

Although the growth rate is lower than in some periods of previous years, a comparison with current European indicators indicates that Serbia is currently maintaining a significantly higher economic growth rate than the EU average.

Key figures for Q1 2026:

• Serbia: +3%
• European Union: +1%
• Eurozone: +0.8%
• Serbia’s export growth: +18.5%
• Import-export coverage: 83.5%
• EU share in Serbia’s trade: 59%.

Republički zavod za statistiku Beograd

Statistical Office of the Republic of Serbia

Eurostat

growth of Serbian GDP