Q:
A:
Serbia exits recession
Belgrade,
6 May 2013
The Serbian Ministry of Finance and Economy stated today that a growth in industrial production and the GDP has been recorded in the first three months of this year, by which Serbia’s economy has formally exited recession.
According to data of the Serbian Statistical Office, industrial production has recorded a growth of 5.2% in the first three months of this year, which contributed to a modest growth of the GDP of 1.9%.
Thus Serbia’s economy has formally exited recession in which it was during the entire last year, when a drop in the GDP was recorded in all four quarters.
During the first three months of this year, production in automotive industry has almost tripled, and a high growth rate has also been recorded in the production of oil derivatives, chemical industry, pharmaceutical industry, tobacco industry, textile industry and furniture production.
During the first three months of this year, domestic export has recorded a growth of 22% in relation to the same period last year, whereas import almost stagnated, which lead to a fall in the foreign trade deficit by one-fourth.
The export in March reached the record value of €857 million on a monthly level, reads the statement.
Thus Serbia’s economy has formally exited recession in which it was during the entire last year, when a drop in the GDP was recorded in all four quarters.
During the first three months of this year, production in automotive industry has almost tripled, and a high growth rate has also been recorded in the production of oil derivatives, chemical industry, pharmaceutical industry, tobacco industry, textile industry and furniture production.
During the first three months of this year, domestic export has recorded a growth of 22% in relation to the same period last year, whereas import almost stagnated, which lead to a fall in the foreign trade deficit by one-fourth.
The export in March reached the record value of €857 million on a monthly level, reads the statement.
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