BELGRADE (Serbia), May 31 (SeeNews) – Serbia's gross domestic product (GDP) grew by a real 4.6% year-on-year in the first quarter of 2018, the country's statistical office said on Thursday.
On a quarterly comparison basis, Serbia's economy expanded by 1.5% in the first quarter of 2018, the statistical office said.
The first quarter of 2018 saw a significant real growth of gross value added in the construction sector, of 26.4% year-on-year, while the sectors of industry and water supply and wastewater management expanded by 5.3%. The IT and telecommunications sector added 5.1% and the sector of wholesale and retail trade, repair of motor vehicles, transport and storage and accommodation and food services expanded by 4.6%.
Among GDP components, households' expenditures on final consumption increased by an annual 3.0% in the first quarter, whereas general government expenditures on final consumption grew by 2.3%.
Gross fixed capital formation increased 14.9% year-on-year in the first quarter, exports of goods and services expanded by 9.3%, while imports of goods and services grew by 12.5%.