November 9, 2022
According to the November issue of the Macroeconomic Analysis and Trends (MAT) magazine, Serbia’s economic activity in September 2022 was lower than it was in the same month in 2021, which resulted in a decline in both the country’s processing industry and overall industrial production.
Production growth was only apparent in the exploitation of metal ore, and all other sectors of mining production dropped year over year, so there was only a very slight rise in production during the monitored period.
When looking at the nine-month total, the production of power in September maintained at last year’s level, which is a healthy development. Despite being lessened, the drop in this economic sector nevertheless topped 10 percent.
Although there was a gain in fourteen divisions and a fall in ten, the manufacturing industry’s production fell in September when compared to the same month last year.
The output of basic metals, non-metallic minerals, furniture, and the food, tobacco, and pharmaceutical industries all saw significant declines.
The journal also notes that while both exports and imports remained at high levels year over year in September, they were much lower than they were in the first half of the year, with a tiny export growth outpacing an import increase.
Source: Serbianmonitor.com
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