Serbia - Economy
How is the economy of Serbia? Based on the information we have, Serbia has a upper middle-income Balkan economy; current EU accession candidate; hit by COVID-19; pursuing green growth development; manageable public debt; new anticorruption efforts; falling unemployment; historic Russian relations; energy import-dependent. Key agricultural products in this country include: maize, wheat, sugar beets, milk, sunflower seeds, potatoes, plums, apples, barley, soybeans (2022).
More about the economy of Serbia
Labor force 3.333 million (2023 est.)
Industrial production growth rate 3.62% (2023 est.)
Industries automobiles, base metals, furniture, food processing, machinery, chemicals, sugar, tires, clothes, pharmaceuticals
Population below poverty line 21.2% (2020 est.)
Taxes and other revenues 25.11% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency Serbian dinars (RSD) per US dollar -
Exchange rates 2023 108.403 (2023 est.)
Exchange rates 2022 111.662 (2022 est.)
Exchange rates 2021 99.396 (2021 est.)
Exchange rates 2020 103.163 (2020 est.)
Exchange rates 2019 105.25 (2019 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $27.569 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $20.68 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $18.617 billion (2021 est.)
Current account balance
Current account balance 2023 -$1.954 billion (2023 est.)
Current account balance 2022 -$4.457 billion (2022 est.)
Current account balance 2021 -$2.654 billion (2021 est.)
Public debt
Public debt 2017 62.5% of GDP (2017 est.)
Budget
Revenues $26.077 billion (2022 est.)
Expenditures $23.693 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 7.68% of GDP (2023 est.)
Remittances 2022 8.97% of GDP (2022 est.)
Remittances 2021 7.29% of GDP (2021 est.)
Household income
Lowest 10% 2.5% (2021 est.)
Highest 10% 25.9% (2021 est.)
Average household expenditures
On food 22.9% of household expenditures (2022 est.)
On alcohol and tobacco 8.4% of household expenditures (2022 est.)
Imports
Imports 2023 $48.216 billion (2023 est.)
Imports 2022 $47.395 billion (2022 est.)
Imports 2021 $39.476 billion (2021 est.)
Imports (partners) Germany 11%, China 8%, Hungary 8%, Russia 7%, Italy 6% (2022)
Comodities Imports force electricity, crude petroleum, natural gas, plastic products, packaged medicine (2022)
Exports
Imports 2023 $48.216 billion (2023 est.)
Imports 2022 $47.395 billion (2022 est.)
Imports 2021 $39.476 billion (2021 est.)
Exports (partners) Germany 13%, Bosnia and Herzegovina 7%, Italy 7%, Hungary 6%, Romania 4% (2022)
Comodities Exports force insulated wire, copper ore, plastic products, electricity, rubber tires (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $162.213 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $158.214 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $154.28 billion (2021 est.)
GDP (official exchange rate) $75.187 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $24,500 (2023 est.)
Real GDP per capita 2022 $23,700 (2022 est.)
Real GDP per capita 2021 $22,600 (2021 est.)
GDP - composition, by sector of origin
Agriculture 5.2% (2023 est.)
Industry 26.4% (2023 est.)
Services 51.2% (2023 est.)
GDP - composition, by end use
Household consumption 67.3% (2023 est.)
Government consumption 15.9% (2023 est.)
Investment in fixed capital 22.7% (2023 est.)
Investment in inventories -1.3% (2023 est.)
Exports of goods and services 59.9% (2023 est.)
Imports of goods and services -64.4% (2023 est.)
Unemployment rate
Unemployment rate 2023 8.68% (2023 est.)
Unemployment rate 2022 8.68% (2022 est.)
Unemployment rate 2021 10.06% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 24.3% (2023 est.)
Male 23.2% (2023 est.)
Female 26.1% (2023 est.)
All Important Facts about Serbia

Want to know more about Serbia? Check all different factbooks for Serbia below.

Serbia is found in Southeast Europe