BELGRADE (Serbia), February 28 (SeeNews) – Serbia's Gross Domestic Product (GDP) grew by a real 2.5% year-on-year in the fourth quarter of 2017, the country's statistical office said on Wednesday, confirming its flash estimate issued last month.
On a quarterly comparison basis, Serbia's economy expanded by 0.6% in the fourth quarter of 2017, the statistical office said.
The fourth quarter of 2017 saw a significant real growth of gross value added in the construction sector, of 17.8% year-on-year, while the sectors of wholesale and retail trade, repair of motor vehicles, transport and storage and accommodation and food services expanded by 4.9%. The sectors of industry and water supply and wastewater management added 3.7% each.
A drop in gross value added was recorded in the sector of agriculture, forestry and fisheries of 9.5%.
Among GDP components, households' expenditures on final consumption increased by an annual 1.9% in the fourth quarter, whereas general government expenditures on final consumption grew by 1.1%.
Gross fixed capital formation increased 12.4% year-on-year in the fourth quarter, exports of goods and services expanded by 7.5%, while imports of goods and services grew by 12%.