Economic and Foreign Trade Activity
According to the data of the Serbian Statistical Office, industrial production grew by 0.5% y-o-y in May, led by the 1.6% rise in manufacturing. In the period January–May, the y-o-y increase in industrial production amounted to 4.1%. The rise in manufacturing came at 3.4%, while the electricity, gas and steam supply sector grew by 9.1%.
According to s-a data, the rise in industrial production from April to May stood at 3.4%, while the manufacturing sector recorded 5.7% growth. In manufacturing, the greatest positive contribution to growth stemmed from food industry and petroleum product production.
The data of the Statistical Office show that retail trade turnover grew by 3.5% y-o-y in real terms in May. In the period January–May retail trade turnover grew by 3.7% y-o-y in real terms as a result of an increase in the turnover of food and non-food products, and of motor fuels.
The data of the Statistical Office show the period January–May recorded y-o-y growth in exports of goods by 7.1%, primarily as a result of an increase in manufacturing exports by 10.5%, recorded in 22 out of 23 areas. Y-o-y increase in commodity imports in the same period stood at 11.1%, driven primarily by higher import procurements of capital and intermediate goods.