NBS: Serbian 2024 GDP up by over 18 pct compared to pre-pandemic level

BELGRADE - Serbia demonstrated resilience to various challenges in 2024 as well, preserving macroeconomic and financial stability and, by the year's end, its GDP increased by over 18 pct compared to the pre-pandemic level, the National Bank of Serbia (NBS) has said, quoting figures from a flash estimate of 2024 macroeconomic trends published by the national statistical office RZS.

"Serbia recorded real GDP growth of 3.9 pct in 2024, reflecting upturns in the industry, construction and services sectors.

The physical volume of industrial production grew by 3.0 pct, with manufacturing posting 4.4 pct growth despite the overhaul of the NIS Refinery in Pancevo and weak external demand, particularly from the euro area.

Mining production increased by 7.5 pct, while the energy sector posted a 6.0 pct decline, driven by reduced hydropower potential due to the drought. ...