The overall economic activity in 2017, measured by GDP and expressed at constant prices, was estimated to reach a real growth of 1.9 percent, compared to 2016.

The Statistical Office of the Republic of Serbia (RZS) announced this on Friday.

According to estimates, gross fixed capital formation in 2017, related to 2016, expressed a real growth that equals 5.3 percent, the RZS said on its website.

In 2017 industrial production expressed physical volume growth of 3.9 percent in comparison to the previous year. For agricultural production in 2017 related to 2016 a physical volume fall of 10.0 percent was recorded.

The value of construction works carried out in 2017 noted a real growth of 2.8 percent in comparison to 2016. The retail trade turnover expressed real growth of 4.0 percent, while the wholesale trade turnover expressed nominal growth of 7.8 percent. In 2017 the section of accommodation and food service activities expressed real growth of 7.8 percent, while the number of tourist overnight stays increased by 10.3 percent when related to 2016.

For the section of transportation and storage estimated is 9.9 percent physical volume growth, and for the division of telecommunications 1.2percent growth. The estimated external trade in goods in 2017 related to 2016 and given in EUR value expressed growth of exports by 13.0 percentand growth of imports by 14.2 percent.

Based on the results of the Labor Force Survey, expressive is increased employment and decreased unemployment rate. In the third quarter 2017 the rate of employment reached 48.2% and unemployment rate equaled 12.9 percent.

Net salaries and wages in 2017 related to 2016, increased by 4.1 percent in nominal terms and by 1.1 percent in real terms.

Annual inflation rate was estimated to equal 3.0 percent.

The RZS noted in its report that since 1999, it has not had at its disposal and may not provide available certain data relative to the Autonomous Province (AP) Kosovo and Metohija “and therefore this data is not included in the coverage for the Republic of Serbia (total).”

B92