Serbia ranked as one of Europe’s fastest-growing economies in 2024, according to a report by Macroeconomic Analyses and Trends (MAT).
The report highlights that Serbia’s real gross domestic product (GDP) grew by approximately 3.8% year-on-year during the first 11 months of 2024. The country’s industrial growth was driven primarily by the manufacturing sector, bolstered by new production capacities. Short-term prospects are even more optimistic with the announcement that production of a new electric car model at FCA Serbia’s factory will begin in late January.
Inflation also showed signs of easing by November 2024, declining both on a monthly and year-on-year basis. Since July 2024, annual inflation has remained just below the upper target limit of 4.5% set by the National Bank of Serbia, with minor fluctuations, the MAT report concludes.