MAT: Economic Activity Growing

The economic activity in Serbia is growing, as shown by the data for the first two months of the current year, primarily the dynamics of the industrial production, as announced in the new issue of the Makroekonomske analize i trendovi bulletin (Macroeconomic Analyses and Trends – MAT).

After the year-on-year stagnation in January, the production in the manufacturing industry increased in February, so a modest year-on-year growth was realized in the first two months.

The overall industrial production has a higher year-on-year growth than the manufacturing industry thanks to the very high growth of the production in the electrical energy system.

The total industrial production was higher year-on-year in February 2021 by 2.6%, and the increase in the January-February period is the same.

The main factor in this growth is the production in the electrical energy system, with a year-on-year growth in February by 10.2% and 11% in the first two months.

At the same time, the production in mining dropped by 1.5% (3% in February).

The production in the manufacturing industry dropped year-on-year in January by 0.1% (corrected percentage) and increased by 1.4% in February, whereas the overall growth in the first two months together amounts to 0.7%.

Observing the current tendencies, four fields from the group of the ten biggest ones when it comes to the share are recording a pronounced upward trend, which exceeded last year’s average this February.

These are the food industry, the production of electrical equipment, the oil industry and the manufacture of products from non-metal minerals.

Ekonomski Institut a.d. Beograd

Makroekonomske analize i trendovi

MAT

Macroeconomic Analyses and Trends

economic activities

industrial production

manufacturing industry

mining

electrical energy sector

capital products

permanent consumer products

intermediary products

production of energy

non durable consumer products

oil industry

manufacture of products from non metal minerals