Ford drives hike in car production in Romania
2 days ago
Serbia's economy expanded by a real 5% in the first quarter of 2020, following a 6.2% growth in the previous quarter, according to non-seasonally adjusted data released by the statistics office on June 1.
Although Serbia posted strong GDP growth in the first quarter of 2020, it is expected to fall into recession this year due to the economic consequences from the coronavirus (COVID-19) outbreak. The country declared a state of emergency in mid-March, imposing tough restrictions to contain the spread of the disease.
Due to the coronavirus outbreak, Serbia’s GDP is expected to decline by around 3.5% or to post a small growth.
According to seasonally adjusted GDP data, Serbia's GDP decreased by 0.6% q/q in the first quarter of 2020.
The biggest annual growth was registered in the construction sector, 19.6%, followed by the IT sector (11.8%), the sector of social care, education and health (11.8%) and the sector of wastewater management (4.5%), according to non-seasonally adjusted data.
Household final consumption increased 3.2% y/y, general government final consumption was higher by 12%, while gross fixed capital formation jumped 10.7%.
Exports of goods and services were higher by 3.1% and imports of goods and services grew by 8.3% in the first quarter.
Related Content
Data
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
Most Read
-
UBN: The US Needs to Wake Up
21 hours ago
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
2 days ago
-
Parliament of Bosnia’s Republika Srpska passes resolution denying Srebrenica genocide
1 day ago
-
Poland's first nuclear plant may carry €35bn price tag
1 day ago
-
BREAKING: Iran denies 'Israeli strike', admits shooting down drones
1 day ago
-
Iran vs Israel: Who is better equipped for war?
6 days ago
-
Saudi Arabia to scale back plans for Neom city
10 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
6 days ago
-
Russia’s war economy boosted by rising oil prices
4 days ago
-
Russia could pay off its entire external debt tomorrow, in cash
20 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
25 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
UBN: Russia could take the Baltic states in 48 hours
30 days ago
-
BRICS announce a blockchain-based payment system to create a common currency
23 days ago