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Serbia's GDP grows 3.8% y/y in Q3

Serbia's GDP grows 3.8% y/y in Q3 Source: bibiphoto/shutterstock.com

BELGRADE (Serbia), November 30 (SeeNews) – Serbia's gross domestic product (GDP) grew by a real 3.8% year-on-year in the third quarter of 2018, the country's statistical office said on Friday.

On a quarterly comparison basis, Serbia's economy expanded by 0.5% in the third quarter of 2018, the statistical office said.

The third quarter of 2018 saw a significant real growth of gross value added in the agriculture, forestry and fishing, of 15.9% year-on-year, while the sector of construction expanded by 7.0%. The sectors of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities added 6.1% each.

Among GDP components, households' expenditures on final consumption increased by an annual 3.3% in the third quarter, whereas general government expenditures on final consumption grew by 4.0%.

Gross fixed capital formation increased 7.0% year-on-year in the third quarter, exports of goods and services expanded by 9.1%, while imports of goods and services grew by 11.2%.

In a flash estimate last month, the Serbian statistical office said the country's GDP expanded by a real 3.7% year-on-year in the third quarter of 2018.

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