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30.12.2025. -
Economic trends in the Republic of Serbia, 2025


The total economic activity of the Republic of Serbia in 2025, measured by the real movements of the Gross domestic product (GDP), was estimated to made growth of 2.0% when related to 2024.

In 2025 gross fixed capital formation recorded the real growth equalling 0.9% in comparison to 2024.

In 2025 agricultural production made the physical volume fall of 0.3%. In 2025 industrial production expressed growth of 1.0%, and manufacturing – growth of 1.2%.

The value of construction works carried out in 2025 expressed real fall of 8.4% in comparison to 2024. Retail trade turnover recorded real growth equalling 4.2%, while the wholesale trade turnover decreased by 1.1% in nominal terms. When 2025 is related to 2024, external trade in goods expressed in euros indicated growth of exports by 8.0%, and growth of imports by 7.3%. Within the section of accommodation and food service activities, in 2025 real growth of catering industry equalling 1.5% was estimated, while the number of tourist overnight stays decreased by 3.3%. When 2025 is related to 2024, transportation expressed physical volume growth of 4.7%, and for telecommunications recorded was physical volume fall of 5.3%.

According to the data of the Labour Force Survey, in the third quarter 2025 the rate of employment equalled 51.3%, while the rate of unemployment equalled 8.2%.

When 2025 is related to 2024, average salaries (wages) taxes and contributions deducted increased by 11.2% in nominal terms, and by 7.1% in real terms.

The estimated annual inflation rate equals 2.8%.

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