Statistical Office data reveals bleak economy trends

Industrial production and GDP both decreased in Serbia, while the country's trade deficit grew, the Statistical Office data presented on Tuesday showed.

Izvor: Tanjug

Tuesday, 31.07.2012.

17:17

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BELGRADE Industrial production and GDP both decreased in Serbia, while the country's trade deficit grew, the Statistical Office data presented on Tuesday showed. Industrial production was four percent lower in June compared to the same month last year, while in relation to the 2011 average, the figure was two percent. Statistical Office data reveals bleak economy trends Year-on-year, 15 sectors making up 60 percent of the overall production reported a decrease in their output, while 14 sectors taking up the remaining 40 percent percent saw a rise. At the same time, in second quarter of 2012, "Serbia's gross domestic product (GDP) at previous year prices decreased by 0.6 percent in comparison to the corresponding period of 2011", said the Statistical Office, and announced that a more detailed GDP figure for the second quarter, compiled at lower levels of aggregation, would be published in late September. It was also revealed on Tuesday that Serbia's overall external trade for the period January-June 2012 amounted to USD 14.73bn - a 4.1 percent decrease compared to the same period in 2011. The value of exports amounted to USD 5.37 billion, while the value of imports was USD 9.35 billion, meaning that the trade deficit reached almost USD 4 billion, recording a year-on-year increase of 5.2 percent. Exports were down 7.1 percent, while the imports figure declined 2.3 percent, it has been announced. Tanjug

Statistical Office data reveals bleak economy trends

Year-on-year, 15 sectors making up 60 percent of the overall production reported a decrease in their output, while 14 sectors taking up the remaining 40 percent percent saw a rise.

At the same time, in second quarter of 2012, "Serbia's gross domestic product (GDP) at previous year prices decreased by 0.6 percent in comparison to the corresponding period of 2011", said the Statistical Office, and announced that a more detailed GDP figure for the second quarter, compiled at lower levels of aggregation, would be published in late September.

It was also revealed on Tuesday that Serbia's overall external trade for the period January-June 2012 amounted to USD 14.73bn - a 4.1 percent decrease compared to the same period in 2011.

The value of exports amounted to USD 5.37 billion, while the value of imports was USD 9.35 billion, meaning that the trade deficit reached almost USD 4 billion, recording a year-on-year increase of 5.2 percent. Exports were down 7.1 percent, while the imports figure declined 2.3 percent, it has been announced.

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