Real GDP Growth in First Quarter of 2023 Amounts to 0.7%

The real GDP growth in the first quarter of 2023, compared to the corresponding period of the previous year, amounted to 0.7%.

According to seasonally adjusted GDP data, gross domestic product decreased by 0.2% in the first quarter of 2023, compared to the previous quarter according to the website of the Statistical Office of the Republic of Serbia.

Observed by activities, in the first quarter of 2023, compared to the same quarter of the previous year, significant real growth in the gross value added was recorded in the section of information and communication – 9.9%, the section of industry and water supply, sewerage, waste management and remediation activities – 2.3% and the section of professional, scientific and technical activities; administrative and support service activities – 5.7%.

Real fall in the gross value added was recorded in the section of construction – 1.5%, the section of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage and accommodation and food service activities – 0.2% and the section of public administration and defense; compulsory social security; education and human health and social work activities – 4.2%.

real growth of gross domestic product in first quarter of 2023

GDP of Serbia