Market Research In Serbia

Serbia Profile:

  • Serbia, officially the Republic of Serbia is a sovereign state situated at the crossroads of Central and Southeast Europe in the southern Pannonian Plain and the central Balkans.
  • The country ranks high by the Human Development Index (66th), Social Progress Index (45th) as well as the Global Peace Index (56th).
  • Serbia is a member of international organizations such as the UN, CoE, OSCE, PfP, BSEC, and CEFTA. An EU membership candidate since 2012, Serbia has been negotiating its EU accession since January 2014. The country is acceding to the WTO.
  • Factors favorable to Serbia’s economic growth include the economic reforms it is undergoing as part of its EU accession process and IMF agreement, its strategic location, a relatively inexpensive and skilled labor force, and free trade agreements with the EU, Russia, Turkey and members of the Central European Free Trade Agreement.
  • Major economic challenges ahead include: high unemployment rates and the need for private sector job creation; structural reforms of state-owned companies; strategic public sector reforms; and the need for new foreign direct investment

Serbia Economy:

  • Serbia is an upper-middle income economy with a dominant service sector, followed by the industrial sector and agriculture.
  • Serbia has a transitional economy largely dominated by market forces, but the state sector remains significant in certain areas. The economy relies on manufacturing and exports, driven largely by foreign investment.
  • In 2016, Serbia reduced its budget deficit by 1.4% and slowed the rate of growth of its public debt as a percent of GDP, more than doubled between 2008 and 2015.
  • High unemployment and stagnant household incomes are ongoing political and economic problems. Serbia is slowly implementing structural economic reforms needed to ensure the country’s long-term prosperity.
  • Serbia’s concerns about inflation and exchange-rate stability preclude the use of the expansionary monetary policy. Serious longer-term economic challenges include an inefficient judicial system, high levels of corruption, and an aging population

Serbia Facts:

  • Population: 7.1 million
  • Capital: Belgrade
  • Largest city: Belgrade
  • Area: 77,474 sq km
  • Major language: Serbian (official) 88.1%, Hungarian 3.4%, Bosnian 1.9%, Romani 1.4%, other 3.4%
  • Major religion: Orthodox 84.6%, Catholic 5%, Muslim 3.1%, Protestant 1%, atheist 1.1%, other 0.8%
  • Life expectancy: 72.8 years (Male), 78.8 years (Female)
  • Monetary unit: 1 Serbian Dinar (RSD) = 100 Paras
  • Main exports: Automobiles, iron and steel, rubber, clothes, wheat, fruit and vegetables, nonferrous metals, electric appliances, metal products, weapons, and ammunition
  • GNI per Capita: $13,890

Our Market Research Services in Serbia:

We Employ A Wide Range of Research Techniques in Serbia:

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