Balkan Spring

Balkan Spring

Even with investor and public worries about corruption, the dynamic Balkan economies offer opportunities with the promise of EU membership.

 
 
Source
Central bank

National Bank of Serbia

International Reserves

USD 12.9 billion (2018)

Gross Domestic Product - GDP

USD 50.7 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 122.8 billion (2018, estimate)

Real GDP growth
2014 2015 2016 2017* 2018*
-1.6% 1.8% 3.3% 2.0% 4.4%

*Estimate

GDP per capita - current prices

USD 7,243.4 (2018, estimate)

GDP per capita - PPP

Intl$ 17,555.2 (2018, estimate)

GDP (PPP) - share of world total

0.009%

 
 
Source
GDP - composition by sector
  • agriculture: 6.2% 
  • industry: 25.9% 
  • services: 51%

(2016 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Inflation
2014 2015 2016 2017* 2018*
1.4% 1.1% 3.1% 2.0% 2.2%

*Estimate

Unemployment rate
2014 2015 2016 2017* 2018*
18.2% 15.9% 14.1% 13.3% 13.1%

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2014 2015 2016 2017* 2018*
71.3% 68.9% 58.7% 54.5% 52.7%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2014 2015 2016 2017* 2018*
-3.4% -1.1% 1.4% 0.8% -0.4%

*Estimate

Government bond ratings

Standard & Poor's: BB

Moody's: Ba3

Standard & Poor's / Moody's (Updated January 2017)

Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A

 

Largest companies

N/A

 
 
Source
Current account balance

USD -2.6 billion (2018 estimate)

Current account balance by percentage of GDP

-5.2 % (2018 estimate)

Exports as percent of GDP (Exports of goods and services)

50.9% (2018)

Shares in world total merchandising export

0.10% (2018)

Shares in world total commercial services export

0.12% (2018)

Total exports

USD 26.7 billion (2018)

Export commodities

Automobiles, iron and steel, rubber, clothes, wheat, fruit and vegetables, nonferrous metals, electric appliances, metal products, weapons and ammunition

Total imports

USD 30.7 billion (2018 estimate)

 
 
Source
Import commodities

Machinery and transport equipment, fuels and lubricants, manufactured goods, chemicals, food and live animals, raw materials

Exports - major partners

Italy 13.5%, Germany 12.8%, Bosnia and Herzegovina 8.2%, Russia 6%, Romania 4.9% (2017)

Imports - major partners

Germany 12.7%, Italy 10%, China 8.2%, Russia 7.3%, Hungary 4.9%, Poland 4.1% (2017)

FDI inflows
2013 2014 2015
USD 2,053 million USD 1,996 million USD 2,347 million
FDI outflows
2013 2014 2015
USD 329 million USD 356 million USD 346 million
Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
USD 0.5 million N/A N/A USD 16.4 million
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

(for a monthly update on M&A; click here )

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

(for a monthly update on M&A; click here )

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 47 out of 190 countries (2017)

Subcategories:

Starting a business: 47 out of 190 countries

Enforcing Contracts: 61 out of 190 countries

Registering Property: 56 out of 190 countries

Getting Credit: 44 out of 190 countries

Protecting Minority Investors: 70 out of 190 countries

Trading Across Borders: 23 out of 190 countries

Paying Taxes: 78 out of 190 countries

Dealing with Construction Permits: 36 out of 190 countries

Getting Electricity: 92 out of 190 countries

Resolving Insolvency: 47 out of 190 countries

Global competitiveness ranking

90 out of 138 countries

(2016-2017)

Index of Economic Freedom

Ranking: 77 / Score: 62.11 (Moderately free) (2016)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+1

Total area

77,474 sq km

Capital

Belgrade (Beograd) 

Currency

Parliamentary republic

Government type

republic 

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

Orthodox 84.6%, Catholic 5%, Muslim 3.1%, Protestant 1%, atheist 1.1%, other 0.8% (includes agnostics, other Christians, Eastern, Jewish), undeclared or unknown 4.5% (2011 est.) - Note: most ethnic Albanians boycotted the 2011 census

Total population
1990 2000 2010 2015 2020*
N/A 7.52 million 7.29 million 7.1 million 6.94 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
N/A N/A 52.8% 56.1%
Population median age

75.9 years (2018 estimate)

Population growth rate

-0.46% (2016 estimate)

Life expectancy

75.9 years (2018 estimate)

Literacy

Total population: 98.8% 
Male: 99.5% 
Female: 98.2%
Definition: age 15 and over can read and write (2016 est.)

% of population living on less than $3.10 a day

11% (last available estimate, 2015)

Inequality of wealth distribution (Gini index)

39.6 (last available estimate, 2015)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights: 3
Civil Liberties: 3 (2019)                        

(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 27.6% Mobile: 0% (2018)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

73.36 % (2018)

Mercer Cost of living index

Belgrade: 181st (2019)

CO2 emissions

5.28 metric tons per capita (2014)

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