Data at glance of Serbia - average on period

variable 1990-1999 2000-2007 2008-2009 2010-2019 2022 2023 2024 2025 2026
real gdp growth 0.37 5.92 -0.75 1.35 3.7 3.9 2.0 2.8 3.5
CPI % 47.03 18.55 7.1 3.94 12.4 4.7 3.9 5.2 4.9
Unemployment rate 12.63 17.35 18.45 17.63 9.4 8.6 8.7 8.8 8.7
Debt/GDP % 200.6 54.1 38.85 57.1 45.7 44.1 42.4 42.6 43.0
Current account balance/GDP % -3.0 -8.94 -5.75 -5.53 -2.3 -4.5 -4.9 -5.7 -4.4

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

In 1918, the Croats, Serbs, and Slovenes formed a kingdom known after 1929 as Yugoslavia. The monarchy remained in power until 1945, when the communist Partisans headed by Josip Broz (aka TITO) took control of the newly created Socialist Federal Republic of Yugoslavia (SFRY). After TITO died in 1980, communism in Yugoslavia gradually gave way to resurgent nationalism. In 1989, Slobodan MILOSEVIC became president of the Republic of Serbia, and his calls for Serbian domination led to the violent breakup of Yugoslavia along ethnic lines. In 1991, Croatia, Slovenia, and Macedonia declared independence, followed by Bosnia in 1992. The remaining republics of Serbia and Montenegro declared a new Federal Republic of Yugoslavia (FRY) in 1992, and MILOSEVIC led military campaigns to unite ethnic Serbs in neighboring republics into a "Greater Serbia." These actions ultimately failed, and international intervention led to the signing of the Dayton Accords in 1995. In 1998, an ethnic Albanian insurgency in the formerly autonomous Serbian province of Kosovo resulted in a brutal Serbian counterinsurgency campaign. Serbia rejected a proposed international settlement, and NATO responded with a bombing campaign that forced Serbian forces to withdraw from Kosovo in June 1999. In 2003, the FRY became the State Union of Serbia and Montenegro, a loose federation of the two republics. In 2006, Montenegro seceded and declared itself an independent nation. In 2008, Kosovo also declared independence -- an action Serbia still refuses to recognize. In 2013, Serbia and Kosovo signed the first agreement of principles governing the normalization of relations between the two countries. Additional agreements were reached in 2015 and 2023, but implementation remains incomplete. Serbia has been an official candidate for EU membership since 2012, and President Aleksandar VUCIC has promoted the ambitious goal of Serbia joining the EU by 2025.

Environment

Area: 77,474 sq km km2

Climate: in the north, continental climate (cold winters and hot, humid summers with well-distributed rainfall); in other parts, continental and Mediterranean climate (relatively cold winters with heavy snowfall and hot, dry summers and autumns)

Natural resources: oil, gas, coal, iron ore, copper, zinc, antimony, chromite, gold, silver, magnesium, pyrite, limestone, marble, salt, arable land

Ethnic characteristics

Groups: Serb 83.3%, Hungarian 3.5%, Romani 2.1%, Bosniak 2%, other 5.7%, undeclared or unknown 3.4% (2011 est.)

Languages: Serbian (official) 88.1%, Hungarian 3.4%, Bosnian 1.9%, Romani 1.4%, other 3.4%, undeclared or unknown 1.8% (2011 est.)

Religions: Serbian Orthodox 81.1%, unknown 5.3%, Islam 4.2%, Catholic 3.9%, no response 2.5%, atheist 1.1%; less than 1%: other Christians, Protestant, agnostic (2022)

Government

Capital: Belgrade (Beograd)

Government type: parliamentary republic

Executive branch

Chief of state: President Aleksandar VUCIC (since 31 May 2017)

Head of government: Prime Minister Djuro MACUT (since 16 April 2025)

Legislative branch

Description: National Assembly (Narodna skupstina) - unicameral

Economic Overview

upper middle-income Balkan economy; current EU accession candidate; hit by COVID-19; pursuing green growth development; manageable public debt; new anticorruption efforts; falling unemployment; historic Russian relations; energy import-dependent

Industries

automobiles, base metals, furniture, food processing, machinery, chemicals, sugar, tires, clothes, pharmaceuticals

GDP by sector: Agriculture: 3.1% (2024 est.), Industry: 23.3% (2024 est.), Services: 58.5% (2024 est.)

Trade

Export partners: Germany 15%, Hungary 7%, Bosnia & Herzegovina 5%, Italy 5%, Romania 5% (2023)

Export commodities: insulated wire, electricity, copper ore, plastic products, electric motors (2023)

Import partners: Germany 12%, China 10%, Italy 7%, Turkey 5%, Hungary 5% (2023)

Import commodities: crude petroleum, natural gas, packaged medicine, plastic products, cars (2023)

Geography

Southeastern Europe, between Macedonia and Hungary

Defence

Military expenditure: 2024: 2.5% of GDP (2024 est.)

Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.