Serbia is a country in Eastern Europe.  The country boasts strong GDP growth but faces continued political instability and corruption.

Serbia’s Economy

  • GDP: $41.44 billion
    • Real GDP growth rate: 7% (2007 est.)
  • Inflation: 11.2% (2007 CPI est.)
  • Current Account Balance: 8.9%
  • High unemployment rate: 18.8% (2007 est.)
  • Increase in economic growth rate after ousting Milosevic in 2000
  • Political instability due to unresolved Kosovo issue
  • Serbia has a large amount of foreign debt and a high export deficit
    • Country is making attempt to dramatically increase exports
  • Major goal is to gain admission to EU
    • EU is Serbia’s most important trading partner

Serbia’s Demographics:

  • Median age
    • Male: 36.1 years
    • Female: 39 years
  • Sex Ratio
    • Under 15 years: 1.07 male(s)/female
    • 15 – 64 years: 0.97 male(s)/female
    • 65 years and older: 0.68 male(s)/female
  • Highest malnutrition rate in Eastern Europe as of 2003
    • 9% of population undernourished, compared to 2.5% in Germany, Ukraine, Poland, United States, etc.

Serbia’s Industry Sector:

  • Exporter of manufactured goods, food, and live animals
    • In last 10 years, EU has contributed money to increasing livestock inspections, food safety, and lab modernization
  • EU also contributing to infrastructure development
    • Serbia is looking to become a regional hub for air transportation
  • Serbia will import environmental technology to fulfill its EU admission requirements
    • Will see increase in unleaded gasoline, filters, etc.
  • Telecom is Serbia’s fastest-growing industry
    • Annual growth-rate of 18.3% in telecom sector