National Bank of Serbia reports 2.0% year-on-year GDP growth in Q3 2025 alongside higher industrial output and goods trade

The National Bank of Serbia published an overview of recent economic and foreign trade indicators, citing a preliminary estimate by the Statistical Office of the Republic of Serbia that real gross domestic product grew by 2.0% year-on-year in the third quarter of 2025. The update also points to higher industrial production and expanding goods exports and imports. Industrial production increased by 2.5% year-on-year in September 2025, reflecting growth in manufacturing (2.4%), mining (0.6%) and the energy sector (4.5%). For January to September 2025, industrial production rose by 2.7% year-on-year, driven by manufacturing (3.0%) and mining (4.9%), while energy sector activity decreased slightly (-0.2% year-on-year); within manufacturing, growth was recorded in half of the 24 branches, with the largest contributions from rubber and plastic products, motor vehicles and metal products, while machinery and equipment and clothing declined the most. Retail trade turnover increased in real terms by 4.7% year-on-year in September and by 2.7% year-on-year in January to September, while tourism saw September arrivals up 1.0% and nights up 1.1% year-on-year but year-to-date declines of 1.6% and 2.7% respectively. In external trade, goods exports in September were higher by 9.5% year-on-year in EUR terms and imports by 8.4%, with January to September exports up 8.9% and imports up 8.2% compared to the same period of the previous year.