Between 2008 and 2018 GDP grew by an average of 1.3% for the decade. There have been three periods of recession in the country over the last decade, in 2009, 2012 and 2014. In 2018 the rate of GDP growth stood at 3.5%.
Industrial production, as measured by the Industrial Production Index, has averaged an annual growth rate of 0.2% p.a, for the decade (2008-2018). In 2018, the rate of IPI was -0.8%, following periods of decline since 2009.
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 3.5% p.a. in a low scenario to 7.5% p.a. in a high scenario. Accordingly, the industry in Serbia is expected to achieve revenues of between $148m to $182m by 2023.
Published: 2020
Report Data: 2019
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