Serbian GDP up by 1 pct y-o-y in Q3 2022

BELGRADE - Serbia's Q3 2022 GDP was up by 1 pct y-o-y in real terms, the national statistical office said on Wednesday.

According to seasonally adjusted figures, the Q3 GDP was down by 0.7 pct relative to Q2. By activities, wholesale and retail trade and motor vehicle repairs, transport and storage and accommodation and food services saw major real gross value added (GVA) growth of 5.1 pct y-o-y in Q3 2022.

Besides, the sectors of expert, scientific, innovative and technical activities and administrative and auxiliary service activities as well as the information and communications sector registered high GVA growth of 8.1 pct y-o-y.

A significant y-o-y decline of GVA was recorded in the construction sector (12.4 pct), the agriculture, forestry and fisheries sector (7.7 pct) and the sector of public administration, compulsory social insurance, education and health and social protection (3.6 pct).

By aggregates of GDP use, final consumption expenditures of households saw 3.1 pct y-o-y growth in real terms and final consumption expenditures of non-profit institutions providing services to households were up by 2.2 y-o-y, expenditures for goods and services exports were up by 14.9 pct y-o-y and expenditures for goods and services imports up by 7.8 pct y-o-y.

Final consumption expenditures by the general government saw a real decline of 4.5 pct y-o-y while gross investments in fixed assets were down by 2.2 pct y-o-y.