Serbia has natural and mineral resources, fertile and arable agricultural land. It is well positioned for development of transportation infrastructure, given its strategic location at the crossroads of major road and rail routes in South-Eastern Europe.

Economic progress started on 2001, in many areas, including trade liberalization, enterprise sector reform, telecommunications and small and medium-size firms. It has made some progress towards EU membership, signing a Stabilization and Association Agreement with Brussels in May 2008, and with full implementation of the Interim Trade Agreement with the EU and Russia expects more economic impulses and high growth rates in the coming years. In recent years, Serbia has seen an increasingly swift foreign direct investment trend, including many multinational companies. Notable Companies coming from Russia, Greece, and Germany have investment in the sectors of energy, trade, and banking. Serbia is open to foreign direct investment, and attracting FDI is set as a priority for the government of Serbia, which provides both financial and tax incentives to companies willing to invest. At present, main economic problems are high unemployment rate and trade deficit.

in February 2010. It signed the CEFTA enabling exports of all products originating from Serbia without customs and other fees in the region, and it signed the FTA with Russia. Serbia is also pursuing membership in the World Trade Organization. Being the only European country with free trades agreements with both the EU and
The economic crisis, and a concern over Serbia’s external financing gaps, also led Serbia to seek a $4 billion stand-by agreement with the IMF, which was approved in May 2009. After conducting a review of Serbia's economic performance in November 2009, the IMF approved Serbia's second tranche of the package, valued at $500 million, in December 2009.


Labor force:
3.107 million (October 2009 est.)
country comparison to the world: 100

Labor force - by occupation:
agriculture: 23.9%
industry: 20.5%
services: 55.6% (October 2009)

Unemployment rate:
16.6% (October 2009 est.)
country comparison to the world: 159

Population below poverty line:
7.9% (2008 est.)

Distribution of family income - Gini index:
26 (2008)
country comparison to the world: 129
30 (2003)

Investment (gross fixed):
33.1% of GDP (2009 est.)
country comparison to the world: 14

Budget:
revenues: $9.7 billion
expenditures: $11.3 billion (2010 est.)

Public debt:
31.3% of GDP (2009 est.)
country comparison to the world: 86
37% of GDP (2007 est.)

Inflation rate (consumer prices):
6.6% (2009)
country comparison to the world: 162
6.8% (2007)

Central bank discount rate:
9.5% (31 December 2009)
country comparison to the world: 11
17.75% (31 December 2008)

Commercial bank prime lending rate:
11.78% (31 December 2009)
country comparison to the world: 24
18.11% (31 December 2008)

Stock of money:
$3.69 billion (31 December 2009)
country comparison to the world: 68
$3.831 billion (31 December 2008)

Stock of quasi money:
$14.11 billion (31 December 2009)
country comparison to the world: 53
$11.95 billion (31 December 2008)

Stock of domestic credit:
$18.52 billion (31 December 2009)
country comparison to the world: 66
$17.06 billion (31 December 2008)

Market value of publicly traded shares:
$13.91 billion (31 December 2009)
country comparison to the world: 68
$14.22 billion (31 December 2008)
$23.93 billion (31 December 2007)

Agriculture - products:
wheat, maize, sugar beets, sunflower, raspberries; beef, pork, milk

Industries:
base metals, furniture, food processing, machinery, chemicals, sugar, tires, clothes, pharmaceuticals

Industrial production growth rate:
1.8% (2007 est.)
country comparison to the world: 60

GDP (purchasing power parity):
$78.36 billion (2009 est.)
country comparison to the world: 77
$80.78 billion (2008 est.)
$76.57 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$42.88 billion (2009 est.)

GDP - real growth rate:
-3% (2009 est.)
country comparison to the world: 166
5.5% (2008 est.)
6.9% (2007 est.)

GDP - per capita (PPP):
$10,400 (2009 est.)
country comparison to the world: 104
$10,900 (2008 est.)
$10,300 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 12.7%
industry: 23.5%
services: 63.8% (2009 est.)

Oil - production:
19,810 bbl/day (2008)
country comparison to the world: 75

Oil - consumption:
86,700 bbl/day NA bbl/day
country comparison to the world: 81

Oil - exports:
5,045 bbl/day (2008)
country comparison to the world: 105

Oil - imports:
72,570 bbl/day (2008 est.)
country comparison to the world: 76

Oil - proved reserves:
77.5 million bbl (1 January 2009 est.)
country comparison to the world: 75

Natural gas - production:
230 million cu m (2008 est.)
country comparison to the world: 73

Natural gas - consumption:
2.61 billion cu m (2008 est.)
country comparison to the world: 76

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 130

Natural gas - imports:
2.4 billion cu m (2008 est.)
country comparison to the world: 44

Natural gas - proved reserves:
48.14 billion cu m (1 January 2009 est.)
country comparison to the world: 66

Electricity - production:
36 billion kWh (2009)
country comparison to the world: 60

Electricity - consumption:
33.4 billion kWh (2009)
country comparison to the world: 57

Electricity - exports:
1.5 billion kWh (2009 est.)

Electricity - imports:
121 million kWh (2009)

Current account balance:
-$1.437 billion (2009 est.)
country comparison to the world: 140
-$975 million (2008 est.)

Exports:
$8.34 billion (2009 est.)
country comparison to the world: 86
$8.824 billion (2007 est.)

Exports - commodities:
iron and steel, clothes, wheat, fruit and vegetables, non-ferrous metals

Imports:
$15.85 billion (2009 est.)
country comparison to the world: 75
$18.35 billion (2007 est.)

Reserves of foreign exchange and gold:
$17.33 billion (31 December 2009 est.)
country comparison to the world: 43

Debt - external:
$31.72 billion (30 November 2009 est.)
country comparison to the world: 58
$30.4 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$NA (31 December 2009 est.)
$11.95 billion (2006 est.)

Stock of direct foreign investment - abroad:
$NA

Exchange rates:
Serbian dinars (RSD) per US dollar - NA, 62.9 (2008), 54.5 (2007), 59.98 (2006)