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Serbia relies on construction industry for historic GDP growth

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Staff Writer | September 2, 2018
Serbia construction
Europe   The latest data mark 4.8 percent growth of GDP

Construction industry is the main contributor to the growth of Serbian economy, the Ministry of Transport and Infrastructure stated in a press release on Saturday, commenting on Friday's release of the Serbia's statistics office.

"The latest data of the Statistical Office of the Republic of Serbia which mark 4.8 percent growth of GDP in the second quarter, once again confirm that construction is the main driver behind Serbia's economic growth," the ministry's release reads.

The release continues that the biggest real growth of GDP was marked in this sector - 22.9 percent comparing to the year before.

"Considering the new infrastructure projects that are under way, as well as the beginning of a large-scale construction of apartments for security forces in the second half of the year, construction is expected to continue to make a significant contribution to the growth of the Serbian economy in the coming period," the statement concludes.

The latest report of the statistics office published on Friday shows that besides construction, THE sector of agriculture, forestry and fishing grew by 14.8 percent, while information and communication sector grew by 5.9 percent.

"The seasonally adjusted data series shows gross domestic product growth in the second quarter of 2018 is 0.8 percent higher than the previous quarter," the report specified.


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