Serbia's GDP up 3.2 percent in Q3 2013

According to initial estimates, Serbia's gross domestic product (GDP) grew 3.2 percent in the third quarter of this year from the same period last year.

It is pointed out that the final calculation of GDP for the third quarter of 2013 will be published December 30th. The real growth of GDP in Serbia in the first and second quarter of this year was 2.1 and 0.2 percent bigger than in the same period last year, respectively.

Analysts believe that the GDP growth could partially be explained by low base in the comparative period as well as by good export results and an industrial production growth. Despite the exceptional results of GDP and industrial production growth, economists notice that the contributions of different industries are quite uneven because the growth is primarily stimulated by the automotive and oil industries and related sectors, while numerous other industries are still in the negative zone due to low demand and poor liquidity, partially owing to uncollectible receivables and the lack of new loans from commercial banks.