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Indicators of economy in Serbia

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Serbia, on the other hand, reached USD 9,230 per capita, or 63.08 billion USD for the whole country. Serbia is therefore currently ranked 83 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Serbia ranks 71st in the list of the richest countries.

Inflation in Serbia in 2021 was around 4.09%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

The index for perceived corruption in the public sector is 36, which is below average by global standards.


Back to overview: Serbia

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Serbia in 2020 increased from 51.51 billion US dollars to 53.36 billion US dollars. Certainly, there have been shifts in numerous sectors of the economy, but a 3.6 percent increase has been rather unusual this year. While most countries have suffered significant losses, Serbia has certainly held its own. The tourism sector alone slumped by around 29 percent. Fortunately, the unemployment rate actually fell from 10.4 to 9.0 percent. The inflation rate fell from 1.8 percent previously to 1.6 percent by the end of 2020.

Income and purchasing power

The average monthly income in Serbia is 705 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 49.1 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Serbia than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 76.6 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Serbia
Total
Serbia
per capita
EU
Total
EU
per capita
GDP63.08 bn USD9,230.18 USD17.177 tn USD33,384.92 USD
Gross national product57.80 bn USD8,456.97 USD16.895 tn USD32,835.37 USD


In the Global Innovation Index, Serbia ranked 55th in 2022 with 32.3 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.

Development of gross domestic product in billions of USD 1995 - 2021



Imports and Exports 2021

 Serbia
Total
Serbia
per capita
EU
Total
EU
per capita
Imports39.04 bn USD5,712.13 USD8.916 tn USD17,329.02 USD
Exports33.73 bn USD4,934.83 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 2007 - 2021

Exports
Imports



Serbia: AirportsLargest airports and airlines in SerbiaThe 2 biggest airports and in Serbia with further information and data (Belgrade Nikola Tesla and Nis)
Serbia: Public HolidaysPublic holidays in Serbia 2023-2027Statutory and inofficial holidays in Serbia for 2023 to 2027
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