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The Republic Office of Statistics estimates that economic activity in Serbia in 2020, as measured by GDP trends, registered a decrease of 1.1 percent compared to 2019.
Source: Tanjug
Photo: Depositphotos, uroszunic
Gross fixed capital formation fell 2.8 percent in real terms, compared to the previous year.
Agricultural production achieved a physical volume growth of 4.4 percent, while industrial production, in the same period, recorded a physical volume increase of 0.2 percent, according to a statement published on the website of the SBS.
The value of the works carried out in the construction is realistically lower by 4.3 percent compared to last year.
The turnover in the retail trade increased by 5.0 percent in real terms, while the turnover in the wholesale trade decreased by 6.1 percent in nominal terms.
It is estimated that in the interference and food services sector in 2020, the real decrease is 26.8 percent, while the number of tourist overnight stays decreased by 37.5 percent annually.
The transport and storage sector registered a decrease in physical volume of 33.4 percent, and in the field of telecommunications an increase of 15.1 percent.
Foreign trade in euros, in the current year, is lower than in 2019, and shows a decrease in exports of 3.5 percent and a decrease in imports of 3.0 percent.
According to the results of the Labor Force Survey, this year there has been an increase in the employment rate and a decrease in the unemployment rate. In the third quarter of 2020, the employment rate was 49.9 percent, while the unemployment rate was 9.0 percent.
Salaries without taxes and contributions in 2020 increase nominally by 9.4 percent, and in real terms by 7.7 percent compared to the previous year.
The annual inflation rate is 1.2 percent, according to the SBS in a statement on estimates of economic trends in Serbia in 2020.
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