Economy of Serbia

Economy of Serbia
	Belgrade Waterfront, the financial centre of Serbia
Currency	Serbian dinar (RSD, дин)
Fiscal year	Calendar year
Trade organisations	CEFTA, BSEC, AIIB, Open Balkan, World Bank, IMF, WTO (Observer)
Country group	Developing/Emerging; Upper-middle income economy;
Statistics
Population	6,605,168 (2024)
GDP	$92.55 billion (nominal, 2025 est.); $216.22 billion (PPP, 2025 est.);
GDP rank	76th (nominal, 2024 est.); 78th (PPP, 2024 est.);
GDP growth	+3.8% (2023); +3.9% (2024); +3.5% (2025);
GDP per capita	$14,175 (nominal, 2025); $33,115 (PPP, 2025);
GDP per capita rank	69th (nominal, 2025 est.); 64th (PPP, 2025 est.);
GDP by sector	services: 52.0%; industry: 25.6%; agriculture: 6.5%; (2022);
GDP by component	Private consumption: 63.07%; Public consumption: 10.1%; Investments: 24.20% (2020);
Inflation (CPI)	5% (2024)
Population below poverty line	19.9% (2023); 27.2% at risk of poverty or social exclusion (AROPE, 2023);
Gini coefficient	31.7 medium (2023)
Human Development Index	0.833 very high (2023, 62nd); 0.772 high (2023, IHDI 45th);
Corruption Perceptions Index	35 out of 100 points (2024, 105th rank)
Labour force	2,899,700 (Q2, 2024); 50,5 % employment rate (2023);
Labour force by occupation	services: 57.1%; industry: 28.9%; agriculture: 13.9%; (2021);
Unemployment	8.2% (Q2, 2024); 20,2% youth unemployment (Q2, 2024);
Average gross salary	RSD 148,428 / €1,268 / $1,384 monthly (Dec 2024)
Average net salary	RSD 108,312 / €925 / $1,009 monthly ; (Dec 2024)
Main industries	motor vehicle, base metals, food processing, machinery, chemicals, tires, pharmaceuticals
External
Exports	$31.584 billion (2024)
Export goods	motor vehicles ($2.42bn), electrical machines ($2.033bn), non-ferrous metals ($2.005bn), rubber and plastics products ($1.670bn), chemicals and chemical products ($1.193bn)
Main export partners	EU 61.1% Germany 14.3%; Italy 5.8%; Hungary 4.7%; Romania 4.7%; Czechia 4.0%; Bulgaria 3.4%; Croatia 3.3%; Poland 3.0%; ; Bosnia and Herzegovina 6.7%; China 6.0%; Turkey 3.5%; Montenegro 4.5%; North Macedonia 3.2%; Russia 3.0%; (January–December, 2024);
Imports	$42.425 billion (2024)
Import goods	chemicals and chemical products ($2.408bn), general purpose machinery ($2.100bn), petroleum and natural gas ($1.977bn), motor vehicles ($1.818bn), basic metals ($1.740bn),
Main import partners	EU 56.3% Germany 13.1%; Italy 7.1%; Hungary 4.3%; Poland 3.5%; ; China 13.1%; Turkey 5.3%; Russia 3.3%; (January–December, 2024);
FDI stock	$52.554 billion (2021 est.); Abroad: NA;
Current account	-913 million (2021)
Gross external debt	$34.4 billion (Januar 2023)
Public finances
Government debt	47.7% of GDP (Feb 2024)
Foreign reserves	$30.8 billion (July 2024)
Budget balance	-3.326 billion (2022 est.)
Revenues	21.159 billion (2022 est.)
Expenses	24.485 billion (2022 est.)
Economic aid	€2.6 billion of EU IPA (2001–14); €1.5 billion of EU IPA (2014–20); €2.0 billion of EU IPA III (2021–27)
Credit rating	Standard & Poor's; BBB-/A3 (Domestic); BBB-/A3(Foreign); BB+(T&C Assessment); Outlook: Positive; Moody's:; Ba2 (Domestic); B1 (Foreign); Outlook: Positive; Fitch: BB+; Outlook: Positive; Scope Ratings:; BB+ (Local-currency); BB+ (Foreign-currency); Outlook: Positive;
	All values, unless otherwise stated, are in US dollars.

The economy of Serbia is a developing upper-middle income economy. Its tertiary sector accounts for two-thirds of total gross domestic product (GDP). Serbia's nominal GDP is estimated to reach $92 billion in 2025, with a GDP per capita of $14,175. It's purchasing power parity (PPP) stood at $216.22 billion, which amounts to $33,115 per capita. Their capital city and financial centre is Belgrade, with Novi Sad and Niš being important economic hubs. The Belgrade Waterfront is adjacent to the National Bank of Serbia and the Belgrade Stock Exchange.

Serbia has a significant industrial and manufacturing base, focused mainly on machinery, automotive manufacturing, energy, and mining. Core exports of the Serbian economy include automobiles, base metals, furniture, food processing, machinery, chemicals, tires, clothes, and pharmaceuticals. Highly dependent on international trade in Europe, key trading partners include its neighbors around Central Europe as well as China and Russia.