Serbia's GDP grows 4.8% y/y in Q3

On a quarterly comparison basis, Serbia's economy expanded by 2.2% in the third quarter of 2019, the statistical office said on Monday.

The third quarter of 2019 saw a significant real growth of gross value added in the construction sector, of 34.7% year-on-year, while the sector of information and communication expanded by 7.7%. The sectors of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities added 5.4% each.

Among GDP components, households' expenditures on final consumption increased by an annual 3.1% in the third quarter, whereas general government expenditures on final consumption grew by 4.6%.

Gross fixed capital formation increased by 17.3% year-on-year in the third quarter, exports of goods and services expanded by 10.2%, while imports of goods and services grew by 11.4%.