Serbia

Description of Serbia

As an analyst specializing in geopolitics and macroeconomics, Serbia has always held a significant place in discussions about the development and stability of the Balkan region. With a rich history, strategic location, and evolving economic landscape, Serbia stands at a crossroads of opportunities and challenges. By delving into key macroeconomic statistics and geopolitical dynamics, we can gain valuable insights into Serbia's past, present, and future trajectories, shedding light on its interactions with neighboring countries and global players alike.

Population And Age Structure

For the attribute "Population, total", Serbia's population is 6,899,126, which is below the average population of 40,097,746. Serbia ranks 104th out of 194 countries in this data set.

Regarding "Population ages 0-14 (% of total population)", Serbia's percentage is 14.13%, lower than the average of 27.34%. This places Serbia at the 183rd rank out of 194 countries.

When looking at "Population ages 0-14, total", Serbia has 974,823 individuals in this age group, significantly lower than the average of 10,327,379. Serbia ranks 122nd out of 194 countries in this category.

For "Population ages 15-64 (% of total population)", Serbia's percentage is 65.13%, slightly above the average of 63.44%. Serbia ranks 86th out of 194 countries for this metric.

In terms of "Population ages 15-64, total", Serbia has 4,493,103 individuals within this age range, falling below the average of 26,003,407. Serbia ranks 103rd out of 194 countries for this attribute.

For "Population ages 65 and above (% of total population)", Serbia's percentage is 20.74%, notably higher than the average of 9.22%. Serbia holds the 12th rank out of 194 countries in this regard.

Lastly, looking at "Population ages 65 and above, total", Serbia has 1,431,199 individuals in this age group, which is lower than the average of 3,766,959. Serbia ranks 62nd out of 194 countries for this specific data point.

Summary

Serbia's population of 6,899,126 is below the global average of 40,097,746, ranking 104th in total population. The country has a lower percentage of youth aged 0-14 and a higher percentage of elderly individuals aged 65 and above compared to the global averages, indicating demographic challenges.

These statistics are crucial for policymakers and analysts to understand the demographic landscape of Serbia. A lower youth population could impact future labor force dynamics and economic growth potential, while a higher elderly population signals potential strains on healthcare and social welfare systems, highlighting the need for targeted policies to address these demographic shifts.

Population Miscellaneous

For the attribute "Rural population," Serbia has a value of 3,004,845, which is significantly below the average of 18,044,041. Serbia ranks 91 out of 190 countries in this dataset.

Regarding "Rural population (% of total population)," Serbia's value of 43.554% is slightly above the average of 41.158%. The country ranks 83 out of 190 countries.

In terms of "Urban population," Serbia's value is 3,894,281, well below the average of 22,425,747. Serbia holds the 108th rank out of 194 countries.

For "Urban population (% of total population)," Serbia's value of 56.446% is below the average of 59.691%. The country ranks 112 out of 194 countries.

Looking at the "Age dependency ratio (% of working-age population)," Serbia's ratio of 53.549% is below the average of 59.219%. Serbia ranks 109 out of 194 countries.

Considering the "Birth rate, crude," Serbia's rate of 8.9 per 1,000 people is below the average of 19.384. Serbia ranks 176 out of 192 countries.

For the "Death rate, crude," Serbia's rate of 16.9 per 1,000 people is above the average of 8.214. The country ranks 2 out of 192 countries.

Finally, in terms of "Fertility rate, total," Serbia's rate of 1.48 births per woman is below the average of 2.603. The country ranks 158 out of 190 countries.

Summary

Serbia exhibits a rural population below the global average, with a relatively high percentage of its population residing in rural areas. Similarly, Serbia has a lower urban population compared to the world average. The country also demonstrates lower-than-average dependency ratios and fertility rates, along with a higher crude death rate. These indicators are crucial for policymakers as they highlight demographic trends, urbanization patterns, and the country's social and economic development challenges.

Military

1. Military expenditure (current USD): Serbia's military expenditure is $1,121,178,3.41, which is significantly below the average of $12,904,993,617.17. Serbia ranks 67 out of 149 countries in this dataset.

2. Military expenditure (% of GDP): Serbia's military expenditure as a percentage of GDP is 2.10%, slightly above the average of 1.90%. Serbia ranks 42 out of 148 countries in this dataset.

3. Arms imports (SIPRI trend indicator values): Serbia's arms imports are $132,000,000, lower than the average of $205,522,123.89. Serbia ranks 33 out of 113 countries in this dataset.

4. Arms exports (SIPRI trend indicator values): Serbia's arms exports amount to $34,000,000, significantly below the average of $705,705,882.35. Serbia ranks 26 out of 34 countries in this dataset.

5. Armed forces personnel, total: Serbia has 32,000 total armed forces personnel, lower than the average of 165,908.54. Serbia ranks 86 out of 164 countries in this dataset.

6. Armed forces personnel (% of total labor force): Serbia's armed forces personnel as a percentage of the total labor force is 0.99%, below the average of 1.28%. Serbia ranks 68 out of 164 countries in this dataset.

Summary

Serbia's military expenditure is below the global average, both in absolute terms and as a percentage of GDP. This indicates that Serbia allocates less resources to its military compared to many other countries. The country also has fewer armed forces personnel than the average, suggesting a relatively smaller military presence. These indicators are important as they highlight Serbia's position in the global military landscape and its strategic priorities in defense spending.

Natural Resources

- Serbia's forest area covers 27,226.5 sq. km, which is significantly below the average of 211,606.11 sq. km. This ranks Serbia 94th out of 191 countries.

- Serbia's land area is 84,090 sq. km, well below the average of 665,166.51 sq. km. This places Serbia at rank 111 out of 194 countries.

- Serbia's surface area is 84,990 sq. km, also notably under the average of 689,779.56 sq. km. Serbia holds the 115th position out of 194 countries in this aspect.

- The arable land in Serbia spans 2,604,000 hectares, considerably less than the average of 7,329,543.16 hectares. Serbia is ranked 71st out of 190 countries.

- Serbia has 1,746,070 hectares of land under cereal production, below the average of 4,206,011.63 hectares. This places Serbia at the 60th position out of 174 countries.

- Serbia has 8.407 billion cubic meters of renewable internal freshwater resources, significantly lower than the average of 240.41 billion cubic meters. This ranks Serbia 128th out of 178 countries.

Summary

Serbia's land metrics, including forest area, land area, surface area, arable land, and land under cereal production, fall below global averages. Additionally, its renewable internal freshwater resources are considerably lower than the worldwide average. These statistics highlight Serbia's relatively limited natural resources compared to other countries, which could impact its agricultural productivity, environmental sustainability, and overall development trajectory. Addressing resource management and conservation strategies may be crucial for Serbia's long-term economic and environmental stability.

Resource Rents

- Total natural resources rents (% of GDP): Serbia's value is 0.95%, well below the average of 4.63%. This places Serbia at rank 102 out of 175 countries in this dataset.
- Coal rents (% of GDP): Serbia's value is 0.15%, below the average of 0.40%. This places Serbia at rank 20 out of 65 countries in this dataset.
- Forest rents (% of GDP): Serbia's value is 0.37%, below the average of 1.53%. This places Serbia at rank 76 out of 174 countries in this dataset.
- Oil rents (% of GDP): Serbia's value is 0.21%, significantly below the average of 2.51%. This places Serbia at rank 53 out of 117 countries in this dataset.
- Natural gas rents (% of GDP): Serbia's value is 0.02%, well below the average of 1.25%. This places Serbia at rank 62 out of 96 countries in this dataset.
- Mineral rents (% of GDP): Serbia's value is 0.19%, below the average of 1.23%. This places Serbia at rank 49 out of 86 countries in this dataset.

Summary

Serbia has lower natural resources rents across various categories compared to global averages, positioning it at varying ranks in datasets. These statistics are crucial as they indicate the country's relative reliance on natural resource sectors for economic output and highlight potential areas for diversification and growth to reduce dependency on specific resources.

Commodities

1. Cereal production (metric tons): Serbia's cereal production is 11,471,969 metric tons, which is below the average of 17,249,945.92 metric tons. Serbia ranks 36th out of 174 countries in this category.

2. Aquaculture production (metric tons): Serbia's aquaculture production is 6,010.26 metric tons, significantly lower than the average of 679,642.92 metric tons. Serbia ranks 89th out of 180 countries.

3. Capture fisheries production (metric tons): Serbia's capture fisheries production is 1,932 metric tons, much lower than the average of 467,453.06 metric tons. Serbia ranks 161st out of 190 countries.

4. Total fisheries production (metric tons): Serbia's total fisheries production is 7,942.26 metric tons, well below the average of 1,153,914.85 metric tons. Serbia ranks 148th out of 182 countries.

5. Fertilizer consumption (kilograms per hectare of arable land): Serbia's fertilizer consumption is 160.31 kg per hectare, slightly above the average of 159.04 kg per hectare. Serbia ranks 56th out of 187 countries in this metric.

Summary

Serbia's agricultural production in cereals, aquaculture, and fisheries falls below global averages, indicating potential areas for improvement and increased efficiency within the agricultural sector. However, the country's fertilizer consumption per hectare of arable land is slightly above average, suggesting a relatively good utilization of fertilizers to enhance agricultural productivity. These statistics are crucial as they highlight Serbia's current standing in key agricultural sectors compared to other nations, signaling areas that may require attention and investment to enhance competitiveness and sustainability in the global market.

Intellectual Property

Industrial design applications, nonresident, by count: Serbia's value of 902 is below the average of 1415.83, ranking 26 out of 112 countries included in the data.

Industrial design applications, resident, by count: Serbia's value of 163 is significantly below the average of 9799.58, ranking 60 out of 113 countries.

Patent applications, nonresidents: Serbia's value of 8 is far below the average of 6538.40, ranking 102 out of 129 countries in the data set.

Patent applications, residents: With a value of 138, Serbia falls well below the average of 19037.56, ranking 62 out of 117 countries.

Trademark applications, nonresident, by count: Serbia's value of 12904 is below the average of 15878.93, ranking 34 out of 130 countries.

Trademark applications, resident, by count: Serbia's value of 4108 is way below the average of 111055.78, ranking 66 out of 129 countries.

Scientific and technical journal articles: Serbia's value of 4741.34 is below the average of 15103.76, ranking 56 out of 192 countries.

Charges for the use of intellectual property, payments (BoP, current US$): Serbia's value of 348262113.74 is significantly below the average of 3218843494.39, ranking 49 out of 143 countries.

Charges for the use of intellectual property, receipts (BoP, current US$): With a value of 91346870.50, Serbia is well below the average of 3191687117.58, ranking 45 out of 122 countries.

Researchers in R&D (per million people): Serbia's value of 2149.85 is below the average of 2556.45, ranking 32 out of 72 countries.

Summary

Serbia's performance in key macroeconomic indicators such as industrial design applications, patent applications, trademark applications, scientific and technical journal articles, charges for the use of intellectual property, and researchers in R&D falls below global averages across various categories. This may indicate a need for increased investment in research and innovation, intellectual property protection, and fostering a conducive environment for R&D to boost economic competitiveness and growth in the global market.

Broad Economy Attributes

- GDP (current US$): Serbia's GDP is $53.36 billion, which is below the average of $442.87 billion, ranking 82nd out of 189 countries.

- GDP, PPP (current international $): Serbia's GDP, PPP is $138.44 billion, well below the average of $734.14 billion, ranking 77th out of 181 countries.

- GDP per capita (current US$): Serbia's GDP per capita is $7733.80, less than the average of $15462.11, ranking 77th out of 190 countries.

- GDP per capita, PPP (current international $): Serbia's GDP per capita, PPP is $20066.38, slightly below the average of $21251.89, ranking 65th out of 181 countries.

- GNI (current US$): Serbia's GNI is $51.73 billion, below the average of $452.04 billion, ranking 80th out of 185 countries.

- GNI, PPP (current international $): Serbia's GNI, PPP is $134.23 billion, significantly lower than the average of $730.70 billion, ranking 77th out of 181 countries.

- GNI per capita, PPP (current international $): Serbia's GNI per capita, PPP is $19460, below the average of $20615.75, ranking 65th out of 181 countries.

Summary

Serbia's macroeconomic indicators, such as GDP, GDP per capita, and GNI, consistently rank below global averages across various measurements. While the country shows potential with a moderately high GDP per capita, the lower GDP and GNI figures indicate room for growth and development in the economy. These statistics are crucial as they highlight Serbia's economic position relative to other nations, helping identify areas for improvement and strategic planning to enhance economic performance and competitiveness on a global scale.

Broad Value Added

1. Gross value added at basic prices (GVA) (current US$): Serbia's GVA is $44,340,094,342.86, ranking 80 out of 176 countries. The country's GVA is below the average by $315,730,849,252.26.

2. Agriculture, forestry, and fishing, value added (% of GDP): Serbia's value added in this sector is 6.34% of its GDP, ranking 102 out of 182 countries. The percentage is below the average by 4.51%.

3. Agriculture, forestry, and fishing, value added (current US$): The value added in this sector for Serbia is $3,384,588,580.21, ranking 88 out of 182 countries. It is below the average by $16,540,144,247.86.

4. Services, value added (% of GDP): Serbia's value added in services is 51.86% of its GDP, ranking 126 out of 183 countries. The percentage is below the average by 4.87%.

5. Services, value added (current US$): The value added in services for Serbia is $27,668,484,057.29, ranking 82 out of 183 countries, below the average by $268,169,227,073.40.

6. Industry (including construction), value added (current US$): Serbia's value added in this sector is $13,287,021,705.36, ranking 82 out of 183 countries. The country's value is below the average by $105,134,073,708.15.

Summary

Serbia displays a mixed economic performance across key sectors: While its Gross Value Added at basic prices is relatively low, particularly in the services and industry sectors, the country performs better in Agriculture, forestry, and fishing, where it ranks higher in both percentage of GDP and value added. These statistics are crucial as they highlight the need for Serbia to potentially diversify and strengthen its economy beyond services and industry, leveraging its relative strength in the agriculture sector for sustainable growth.

Manufacturing Value Added

Manufacturing, value added (current US$): Serbia's value of 7087831202.59 is significantly below the average of 76207179589.66, ranking 74th out of 173 countries.

Manufacturing, value added (% of GDP): Serbia's value of 13.28% is above the average of 11.90%, placing it 65th out of 173 countries in the dataset.

Medium and high-tech manufacturing value added (% manufacturing value added): Serbia's value of 25.38% is slightly above the average of 24.49%, ranking 64th out of 149 countries.

Chemicals (% of value added in manufacturing): Serbia's value of 8.35% is below the average of 11.56%, positioning it at 53rd out of 89 countries.

Food, beverages and tobacco (% of value added in manufacturing): Serbia's value of 23.78% is slightly below the average of 24.51%, ranking 35th out of 92 countries.

Machinery and transport equipment (% of value added in manufacturing): Serbia's value of 13.19% is below the average of 16.85%, placing it 54th out of 93 countries.

Textiles and clothing (% of value added in manufacturing): Serbia's value of 6.40% is slightly above the average of 6.33%, positioning it at 29th out of 93 countries.

Other manufacturing (% of value added in manufacturing): Serbia's value of 48.29% is notably above the average of 42.13%, ranking 26th out of 94 countries.

Summary

Serbia's manufacturing sector shows a mixed performance compared to global benchmarks. While the country's overall manufacturing value added is below average, it has a higher percentage contribution to GDP. Serbia performs well in high-tech manufacturing but lags behind in chemicals and machinery sectors. The strong presence of other manufacturing activities could indicate diversification, which is crucial for long-term economic stability and growth.

Money

1. Inflation, consumer prices (annual %): Serbia's inflation rate of 1.58% is below the average of 8.26%, ranking 96th out of 165 countries.

2. Inflation, GDP deflator (annual %): With an inflation rate of 2.45%, Serbia is below the average of 6.90%, placing 84th out of 188 countries.

3. Broad money growth (annual %): Serbia's broad money growth rate of 18.11% is slightly above the average of 18.03%, ranking 36th out of 139 countries.

4. Broad money (% of GDP): Serbia's broad money as a percentage of GDP is 60.58%, below the average of 71.75%, placing 73rd out of 139 countries.

5. Broad money to total reserves ratio: Serbia's ratio of 1.95 is lower than the average of 5.17, ranking 92nd out of 126 countries.

Summary

Serbia demonstrates a stable economic environment with relatively low inflation rates compared to global averages. The country also maintains a healthy broad money growth rate and broad money as a percentage of GDP, indicating a balanced financial system. However, the lower ratio of broad money to total reserves suggests a potential vulnerability in terms of liquidity and financial stability.

Consumption Expenditure

Final consumption expenditure (current US$): Serbia's value of $44,869,101,307.86 is significantly below the average of $381,630,252,515.38. With a rank of 73 out of 159 countries, Serbia's expenditure is relatively low.

Final consumption expenditure (% of GDP): Serbia's percentage of 84.09% is slightly above the average of 82.37%. Ranking 64 out of 159 countries, Serbia's consumption expenditure as a percentage of GDP is relatively high.

General government final consumption expenditure (current US$): Serbia's value of $9,327,204,292.78 is substantially below the average of $93,676,578,238.03. Serbia ranks 73 out of 158 countries in this category.

General government final consumption expenditure (% of GDP): With a percentage of 17.48%, Serbia's expenditure is below the average of 18.71%. Serbia ranks 79 out of 158 countries in this measure.

Household and NPISHs Final consumption expenditure (current US$): Serbia's value of $35,541,897,015.07 is significantly lower than the average of $290,127,571,157.69. Serbia holds a rank of 70 out of 158 countries in this aspect.

Households and NPISHs final consumption expenditure (% of GDP): Serbia's percentage of 66.61% exceeds the average of 63.68%. With a ranking of 66 out of 158 countries, Serbia's household expenditure as a percentage of GDP is relatively high.

Summary

Serbia's final consumption expenditure, both in absolute terms and as a percentage of GDP, is notably below global averages in various categories such as general government expenditure and household expenditure. This indicates that Serbia may have room for increased spending to stimulate economic growth and development. Addressing these disparities could lead to a more robust domestic economy, increased investment opportunities, and improved living standards for its citizens.

Investment

1. Foreign direct investment, net (BoP, current US$): Serbia's value is significantly below the average of -1615235980.51, ranking 138 out of 169 countries.

2. Foreign direct investment, net inflows (BoP, current US$): Serbia's value of 3485786682.98 is below the average, ranking 42 out of 182 countries.

3. Foreign direct investment, net inflows (% of GDP): Serbia's value is notably above the average of 2.61, ranking 25 out of 178 countries.

4. Foreign direct investment, net outflows (BoP, current US$): Serbia's value is significantly below the average of 5707991116.07, ranking 68 out of 156 countries.

5. Foreign direct investment, net outflows (% of GDP): Serbia's value is below the average of 1.00, ranking 77 out of 155 countries.

6. Portfolio Investment, net (BoP, current US$): Serbia's value is below the average of 679559169.57, ranking 133 out of 159 countries.

7. Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Serbia's value is below the average, ranking 16 out of 59 countries.

8. Portfolio equity, net inflows (BoP, current US$): Serbia's value is significantly below the average of 9197145994.70, ranking 80 out of 125 countries.

Summary

Serbia's foreign direct investment metrics indicate mixed results, with net inflows (% of GDP) performing notably well compared to other countries. However, the country falls behind in net outflows and portfolio investments, ranking below average in most categories. These statistics are crucial as they reflect Serbia's attractiveness to foreign investors, its investment activities abroad, and the stability of its financial markets.

Debt

For Total debt service (% of GNI), Serbia's value is 9.69% which is above the average of 5.98%. Serbia ranks 20th out of 120 countries for this attribute.

Public and publicly guaranteed debt service (% of GNI) in Serbia is 5.21%, surpassing the average of 2.84%. The country is ranked 17th out of 120 countries in this category.

Serbia's External debt stocks (% of GNI) is 73.53%, higher than the average of 65.42%. The country holds the 31st rank out of 120 countries.

In terms of Debt service on external debt, total (TDS, current US$), Serbia's value is $5,010,742,540.30, below the average of $9,811,195,839.23. The country ranks 30th out of 123 nations.

Debt service on external debt, public and publicly guaranteed (PPG) in Serbia amounts to $2,697,528,211.60, below the average of $3,310,612,057.60. Serbia is ranked 26th out of 123 countries for this metric.

External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) in Serbia stand at $18,369,968,647.90, below the average of $28,695,879,145. Rating 39th out of 123 countries.

For External debt stocks, private nonguaranteed (PNG) (DOD, current US$), Serbia is at $17,127,339,000, below the average of $33,734,699,285. Serbia ranks 25th out of 91 countries for this attribute.

Serbia's External debt stocks, total (DOD, current US$) reach $38,040,503,965, below the average of $73,845,530,111.82. The country is ranked 35th out of 123 nations in this category.

Summary

Serbia demonstrates a higher than average Total debt service (% of GNI) and External debt stocks (% of GNI), indicating a heavier debt burden compared to the global average. However, the country performs relatively better in terms of public and publicly guaranteed debt service. These indicators are crucial as they reveal Serbia's debt repayment capacity, government obligations, and its standing in the global debt landscape.

Broad Trade Attributes

Trade (% of GDP): Serbia's Trade as a percentage of GDP is 104.72%, which is 22.38% higher than the average of 82.34%. This places Serbia at rank 35 out of 163 countries in the dataset.

Merchandise trade (% of GDP): Serbia's Merchandise Trade as a percentage of GDP is 85.71%, which is 25.70% higher than the average of 60.01%. Serbia ranks 30 out of 186 countries in this category.

Trade in services (% of GDP): With Trade in services accounting for 24.19% of its GDP, Serbia falls slightly below the average of 24.63%. The country is ranked 50 out of 171 nations.

External balance on goods and services (current US$): Serbia's External balance on goods and services is at -$4,418,419,489.75, significantly lower than the average of $3,405,509,011.13. The country ranks 134 out of 163 countries.

External balance on goods and services (% of GDP): Serbia's External balance as a percentage of GDP stands at -8.28%, compared to the average of -5.97%. This places Serbia at rank 110 out of 163 countries.

Summary

Serbia demonstrates a strong emphasis on trade, with its overall Trade and Merchandise Trade as a percentage of GDP significantly surpassing global averages, positioning the country favorably in international trade rankings. However, Serbia's Trade in services falls slightly below the average, indicating potential for growth in this sector. The negative External balance on goods and services, both in absolute terms and as a percentage of GDP, highlights a trade deficit that may warrant attention to maintain economic stability and sustainability.

These findings are crucial as they shed light on Serbia's economic orientation towards trade, showcasing both strengths and areas for improvement. The data underscores the significance of balancing imports and exports, particularly in services, to ensure a healthy external balance and mitigate economic risks associated with trade deficits.

Net Trade

- The Current account balance (BoP, current US$) for Serbia is -2176773515.6188, which is significantly below the attribute average of 1443864831.49. Serbia ranks 133 out of 170 countries for this attribute.
- Serbia's Current account balance (% of GDP) is -4.08, below the attribute average of -2.36. Serbia holds the 115th rank out of 170 countries in this aspect.
- For Net trade in goods and services (BoP, current US$), Serbia records -4677231022.30625, a substantial deviation from the average of 2604730003.57. The country is ranked 142 out of 171 nations.
- Serbia's Net primary income (BoP, current US$) is -1627034544.50658, below the attribute average of -903807529.74. Serbia holds the 115th position out of 170 countries for this attribute.
- In terms of Net secondary income (BoP, current US$), Serbia reports 4127492051.19405, notably higher than the average of -269227340.40. Serbia ranks 28 among 170 countries for this metric.
- Serbia's Net trade in goods (BoP, current US$) stands at -5940509943.63873, significantly lower than the average of 1302831005.68. Serbia ranks 140 out of 171 countries in this category.
- Serbia's Net capital account (BoP, current US$) is -34532482.6078936, below the average of 136543824.05. This places Serbia at the 133rd position out of 159 countries.
- The Net financial account (BoP, current US$) for Serbia is -2320980845.08663, notably beneath the average of -469840994.63. Serbia holds the 136th rank out of 170 countries based on this attribute.

Summary

Serbia's macroeconomic indicators reflect a consistently negative trend across various aspects, such as current account balance, net trade in goods and services, and net financial account. These statistics paint a picture of economic vulnerability, as Serbia ranks relatively low compared to other countries in these key areas. Addressing these imbalances is crucial for ensuring the country's economic stability and sustainable growth, as persistent deficits in these areas can lead to increased debt, reduced investor confidence, and potential currency depreciation.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Serbia's value of $26,150,231,610.28 is significantly below the average of $146,238,908,936.30. Serbia ranks 67th out of 170 countries in this attribute data.

2. Exports of goods and services (BoP, current US$): Serbia's value of $25,499,689,164.13 falls below the average of $122,938,540,059.78. Serbia ranks 64th out of 170 countries in this attribute data.

3. Exports of goods and services (current US$): Serbia's value of $25,727,982,778.99 is also below the average of $129,596,864,610.19. Serbia ranks 64th out of 163 countries in this attribute data.

4. Exports of goods and services (% of GDP): Serbia's value of 48.22% is above the average of 38.19%. Serbia ranks 36th out of 163 countries in this attribute data.

5. Goods exports (BoP, current US$): Serbia's value of $18,414,377,842.96 is below the average of $93,310,581,697.39. Serbia ranks 67th out of 171 countries in this attribute data.

6. International tourism, receipts (% of total exports): Serbia's value of 5.58% is below the average of 9.74%. Serbia ranks 48th out of 120 countries in this attribute data.

7. ICT goods exports (% of total goods exports): Serbia's value of 1.53% is below the average of 3.81%. Serbia ranks 52nd out of 142 countries in this attribute data.

Summary

Serbia's export performance, as indicated by various key macroeconomic indicators, falls below the global average in most categories. Despite having a relatively higher percentage of exports compared to GDP, the country still lags behind in the total value of exports, ICT goods exports, and international tourism receipts. This underperformance could indicate a need for strategic interventions to boost export competitiveness, diversification, and overall economic growth.

Merchandise Exports

Analysis:

1. Merchandise exports (current US$): Serbia's merchandise exports amount to $19,498,000,000. This is below the average of $89,542,711,229.95. Serbia ranks 67th out of 187 countries in this attribute.

2. Merchandise exports by the reporting economy, residual (% of total merchandise exports): Serbia's value for this attribute is 0.0034, significantly lower than the average of 3.20. Serbia is ranked 144th out of 166 countries in this category.

Summary

Serbia's merchandise exports amount to $19,498,000,000, ranking 67th globally, well below the average of $89,542,711,229.95. Additionally, Serbia's merchandise exports by the reporting economy represent only 0.0034% of total merchandise exports, placing it at a lowly 144th position out of 166 countries for this indicator. These figures signal a need for Serbia to diversify and expand its export base to increase revenue and improve its global economic competitiveness.

Technology Exports

For High-technology exports (current US$), Serbia's value is 701,565,611, which is significantly below the attribute average of 16,655,934,078.80. Serbia ranks 56th out of 151 countries in this data set.

On the other hand, for Medium and high-tech exports (% manufactured exports), Serbia's value is 46.71%, which is above the attribute average of 34.29%. Serbia ranks 51st out of 149 countries in this data set.

Summary

Serbia's high-technology exports in current US dollars are notably lower than the attribute average, ranking 56th out of 151 countries. However, its proportion of medium and high-tech exports compared to manufactured exports surpasses the attribute average, positioning Serbia at 51st out of 149 countries. These indicators are critical as they showcase Serbia's potential for technological advancement and its growing role in the global market for such goods, despite its current lower-than-average high-tech export value.

Service Exports

1. Service exports (BoP, current US$): Serbia's service exports amount to $7,085,311,321.17, which is below the average of $28,917,292,503.82. Serbia is ranked 61 out of 171 countries in this attribute.

2. ICT service exports (BoP, current US$): Serbia's ICT service exports stand at $1,645,103,361.68, which is below the average of $4,578,501,153.77. Serbia ranks 45 out of 166 countries in this category.

3. ICT service exports (% of service exports, BoP): Serbia's ICT service exports as a percentage of total service exports is 23.22%, higher than the average of 11.75%. Serbia is ranked 22 out of 166 countries in this aspect.

4. Communications, computer, etc. (% of service exports, BoP): In Serbia, this category contributes to 64.51% of service exports, surpassing the average of 45.85%. The country ranks 40 out of 169 countries in this sector.

5. Transport services (% of service exports, BoP): Serbia's transport services represent 16.17% of service exports, below the average of 21.80%. The country holds the 89th rank out of 169 countries.

6. Travel services (% of service exports, BoP): Serbia's travel services account for 17.57% of service exports, which is lower than the average of 26.40%. The country is ranked 93 out of 167 nations.

7. Insurance and financial services (% of service exports, BoP): Serbia's insurance and financial services contribute 1.75% to service exports, below the average of 6.46%. The country holds the 118th rank out of 161 countries included in this data.

Summary

Serbia has lower-than-average figures in most service export categories, such as overall service exports, ICT service exports, and various service export percentages. Despite this, Serbia performs relatively well in ICT service exports as a percentage of total service exports, ranking higher than average. These indicators are crucial as they reflect Serbia's strengths and weaknesses in the service sector, highlighting areas where the country can potentially focus on to improve its economic performance and competitiveness in the global market.

Commercial Service Exports

1. Commercial service exports in Serbia amount to $7,073,257,464.50, ranking 60th out of 171 countries. This value is significantly below the average commercial service exports of $28,508,218,402.80 for all countries in the dataset.

2. Travel services as a percentage of commercial service exports in Serbia stand at 17.60%, ranking 95th out of 167 countries. This percentage is notably lower than the average of 27.89% among all countries in the dataset.

3. Computer, communications, and other services as a percentage of commercial service exports in Serbia make up 64.45%, placing Serbia at 35th out of 169 countries. This value is substantially higher than the average of 42.44% for all countries in the dataset.

4. Insurance and financial services as a percentage of commercial service exports in Serbia constitute 1.75%, ranking 119th out of 161 countries. This percentage is below the average of 6.97% across all countries in the dataset.

5. Transport services as a percentage of commercial service exports in Serbia represent 16.20%, placing Serbia at 97th out of 169 countries. This value is lower than the average of 23.37% for all countries in the dataset.

Summary

Commercial service exports in Serbia are below the global average, standing at $7,073,257,464.50. The country shows strengths in computer, communications, and other services, surpassing the average percentage, while lagging behind in travel, insurance, financial, and transport services. These indicators are crucial as they highlight Serbia's economic specialization in certain service sectors, signaling both opportunities for growth and areas that may require further development to enhance competitiveness in the global market.

Broad Import Attributes

Analysis of key statistics for Serbia:

Summary

Analysis of key statistics for Serbia:

Serbia generally exhibits lower than average values in various import-related indicators compared to global averages. While its imports of goods and services in US dollars are significantly below the average, its imports as a percentage of GDP are relatively high. These indicators are important as they reflect Serbia's economic openness, dependency on imports, and the impact of international trade on its economy.

Merchandise Imports

Regarding Merchandise imports (current US$), Serbia's value of 26,233,000,000 is significantly below the average of 89,385,605,263. Serbia ranks 65 out of 190 countries in this attribute data.

For Merchandise imports by the reporting economy, residual (% of total merchandise imports), Serbia's value of 0.0595% is substantially below the average of 2.5122%. Serbia holds the rank of 137 out of 180 countries in this dataset.

Summary

Serbia's merchandise imports value of $26,233,000,000 is significantly below the global average of $89,385,605,263, ranking 65th out of 190 countries. Additionally, Serbia's low residual percentage of 0.0595% in merchandise imports indicates a dependence on external goods, placing it at 137th out of 180 countries.

These findings are crucial as they highlight Serbia's limited involvement in global trade, which could impact its economic growth and domestic industries. The low residual percentage suggests a lack of domestic production or export capacity, underscoring the need for diversified trade relations and possibly a focus on enhancing domestic manufacturing capabilities for sustainable economic development.

Service Imports

Service imports (BoP, current US$): Serbia's service imports amount to $5,822,032,399.84, which is below the average of $27,615,356,170.47. Serbia ranks 66th out of 171 countries for this attribute.

Communications, computer, etc. (% of service imports, BoP): Serbia's percentage of service imports related to communications, computer, etc. is 52.70%, above the average of 44.40%. Serbia ranks 63rd out of 169 countries for this attribute.

Transport services (% of service imports, BoP): In Serbia, transport services account for 23.80% of service imports, below the average of 32.90%. Serbia holds the 108th rank out of 169 countries in this aspect.

Travel services (% of service imports, BoP): Serbia's travel services make up 19.15% of service imports, surpassing the average of 14.14%. The country stands at the 42nd rank out of 169 countries considering this metric.

Insurance and financial services (% of service imports, BoP): Serbia's percentage of service imports attributed to insurance and financial services is 4.36%, lower than the average of 8.53%. In this category, Serbia is ranked 112th out of 169 countries.

Summary

Serbia has a significant focus on importing services related to communications, computer, etc., and travel services, with percentages above the global average. However, the country lags behind in importing transport services and insurance/financial services compared to the average. These indicators are crucial as they reflect Serbia's priorities in service imports and its comparative advantage in certain sectors, which can impact its economic development and international trade competitiveness.

Commercial Service Imports

Commercial service imports in Serbia amount to $5759035758.35, ranking 66 out of 171 countries. This value is below the average commercial service imports of $27102746128.60.

Computer, communications, and other services represent 52.18% of commercial service imports in Serbia, surpassing the average of 41.71%. Serbia ranks 60 out of 169 countries in this aspect.

Insurance and financial services account for 4.41% of commercial service imports in Serbia, ranking 115 out of 169 countries. This value falls below the average of 8.85%.

Transport services make up 24.05% of commercial service imports in Serbia, which is lower than the average of 34.71%. Serbia ranks 108 out of 169 countries in this category.

Travel services constitute 19.36% of commercial service imports in Serbia, ranking 44 out of 169 countries. This value exceeds the average of 14.73%.

Summary

Serbia's commercial service imports are below the global average, with a significant portion being attributed to computer, communications, and other services. However, the country lags in the importation of insurance and financial services and transport services compared to the global average.

These findings are crucial as they indicate Serbia's reliance on certain service sectors for imports, highlighting potential areas for growth and diversification. Furthermore, the comparison to global averages offers insights into Serbia's competitive position and areas that may require attention to enhance its competitiveness in the international market.

Infrastructure

1. Serbia's railways carried 157 million passenger-km, which is significantly below the average of 32,281.92 million passenger-km. Serbia ranks 54th out of 64 countries in this attribute.

2. The country transported 2,747 million ton-km of goods by rail, well below the average of 119,231.19 million ton-km. Serbia ranks 42nd out of 62 countries in this measure.

3. Serbia's air transport moved 8.101 million ton-km of freight, substantially lower than the average of 1,384.37 million ton-km. The country ranks 79th out of 126 countries in this category.

4. In terms of registered carrier departures worldwide, Serbia had 12,773 departures, far fewer than the average of 134,365.61 departures. Serbia ranks 72nd out of 149 countries in this metric.

5. The number of air passengers carried by Serbia was 795,228, significantly lower than the average of 11,848,242.70 passengers. Serbia ranks 79th out of 149 countries for this statistic.

6. Serbia's total rail route-km stood at 3,333.42, notably below the average of 12,204.74 route-km. The country ranks 32nd out of 66 countries in this attribute.

Summary

Serbia lags behind global averages in various key transportation indicators such as passenger-km on railways, ton-km of goods transported by rail, freight ton-km in air transport, registered carrier departures, air passengers carried, and total rail route-km. These indicators are crucial as they reflect the country's efficiency, connectivity, and integration into global trade networks. Improving these transportation metrics can enhance Serbia's competitiveness, facilitate trade, attract investments, and boost economic growth through better connectivity with international markets.

Information Technology Infrastructure

For "Secure Internet servers", Serbia has 64,584 servers, which is below the average of 458,294 servers. Serbia ranks 50th out of 193 countries for this attribute.

With "Secure Internet servers (per 1 million people)", Serbia has 9,361 servers per 1 million people, lower than the average of 14,067 servers. Serbia holds the 49th position out of 193 countries in this category.

Regarding "Individuals using the Internet (% of population)", Serbia has 78.37% of its population using the Internet, exceeding the average of 64.77%. The country ranks 68th out of 180 countries for this metric.

Concerning "Fixed broadband subscriptions", Serbia possesses 1,730,496 subscriptions, falling short of the average of 6,591,956 subscriptions. Serbia is placed 60th out of 185 countries in this domain.

As for "Mobile cellular subscriptions", Serbia has 8,260,758 subscriptions, below the average of 42,526,464 subscriptions. The country's rank for this attribute is 96th out of 193 countries.

Summary

Serbia lags behind the global average in terms of both secure internet servers and fixed broadband subscriptions, ranking 50th and 60th respectively. However, the country performs better in terms of individuals using the internet, surpassing the global average with 78.37% of its population online. In contrast, Serbia falls significantly short in mobile cellular subscriptions, holding the 96th position globally. These indicators are crucial as they reflect Serbia's digital infrastructure readiness, internet accessibility, and connectivity levels, which are vital for economic development, innovation, and competitiveness in the digital age.

Energy Consumption

Regarding Renewable energy consumption (% of total final energy consumption), Serbia's value is 26.01, which is below the average of 32.18. Serbia ranks 90th out of 191 countries in this attribute data.

On CO2 emissions (kt), Serbia emits 46324.3 kt, significantly below the average of 171895.94 kt. Serbia holds the 55th rank out of 188 countries in terms of CO2 emissions.

Summary

Serbia has a lower than average renewable energy consumption and CO2 emissions compared to other countries globally. While this reflects positively on Serbia's environmental impact and sustainability efforts, it also indicates potential room for growth and improvement in transitioning towards more sustainable energy sources and reducing carbon footprint to meet international standards and goals.

Government Balance Sheet

- Serbia's Total reserves (% of total external debt) stand at 43.60%, which is below the average of 66.13%. This places Serbia at the 45th rank out of 102 countries.

- In Reserves and related items (BoP, current US$), Serbia's value of $311,882,334.05 is significantly below the average of $1,924,407,186.58. This places Serbia at the 61st rank out of 171 countries.

- Serbia's Total reserves minus gold (current US$) amount to $14,419,194,291.50, which is well below the average of $74,221,588,171.61. This places Serbia at the 60th rank out of 161 countries.

- Total reserves (includes gold, current US$) of Serbia amount to $16,586,724,160.70, significantly below the average of $85,708,019,773.47. This places Serbia at the 61st rank out of 161 countries.

- Serbia's Total reserves in months of imports stands at 6.13, slightly below the average of 7.10. This places Serbia at the 68th rank out of 151 countries.

Summary

Serbia's total reserves as a percentage of total external debt, reserves and related items (BoP, current US$), reserves minus gold, total reserves including gold, and total reserves in months of imports all indicate that the country's financial position is weaker compared to the global average. These metrics are crucial as they reflect Serbia's ability to meet its external financial obligations, maintain stability in trade and payments, and withstand potential economic shocks. Improving these reserves indicators can enhance Serbia's economic resilience and credibility in the international financial markets.

Government Revenue

1. Revenue, excluding grants (% of GDP): In Serbia, this attribute stands at 41.29%, surpassing the average of 27.02%. Serbia ranks 8th out of 122 countries in this metric.

2. Grants and other revenue (% of revenue): Serbia's value of 11.18% is below the average of 23.54%, placing it at the 79th position out of 108 countries.

3. Social contributions (% of revenue): With a value of 32.42%, Serbia exceeds the average of 22.29%. It ranks 24th out of 81 countries.

4. Taxes on goods and services (% of revenue): Serbia's value of 39.84% is higher than the average of 31.82%. The country ranks 34th out of 122 nations.

5. Taxes on international trade (% of revenue): At 2.26%, Serbia falls below the average of 6.24%. It holds the 68th position out of 101 countries.

6. Other taxes (% of revenue): Serbia's value of 0.02% is under the average of 2.12%, ranking it 99th out of 106 countries.

7. Taxes on income, profits and capital gains (% of revenue): With a value of 14.28%, Serbia is below the average of 24.66%. The country ranks 98th out of 119 nations.

Summary

In analyzing key macroeconomic indicators for Serbia, it is evident that the country relies heavily on revenue, excluding grants, as it constitutes a significant portion of its GDP. However, Serbia's reliance on social contributions exceeds the average, indicating a unique funding structure compared to other countries. The distribution of tax revenue also highlights areas where Serbia may need to reassess its taxation policies for long-term economic sustainability.

These findings are important as they provide insights into Serbia's fiscal health, government revenue sources, and its comparative standing globally. Understanding these indicators can help policymakers make informed decisions to optimize revenue generation, improve financial stability, and enhance the country's overall economic performance.

Taxes

For Tax revenue (% of GDP), Serbia's value is 23.49%, which is above the attribute average of 16.72%. Serbia ranks 17th out of 123 countries in this metric.

In terms of Customs and other import duties (% of tax revenue), Serbia's value is 4.02%, below the attribute average of 9.01%. Serbia ranks 61st out of 99 countries in this category.

For Taxes on income, profits and capital gains (% of total taxes), Serbia's value stands at 25.32%, below the attribute average of 38.40%. Serbia holds the 102nd rank out of 120 countries in this aspect.

Summary

Serbia exhibits a relatively high Tax revenue (% of GDP) compared to the global average, positioning it favorably at 17th place out of 123 countries. However, its Customs and other import duties (% of tax revenue) are below average, ranking 61st out of 99 countries. Furthermore, the country's Taxes on income, profits, and capital gains (% of total taxes) fall significantly short of the global average, placing Serbia at 102nd out of 120 countries in this category.

These indicators are crucial as they reflect Serbia's fiscal policies and its reliance on different revenue sources. A high Tax revenue (% of GDP) suggests a robust tax collection system, while lower Customs and import duties indicate potential challenges in trade revenue generation. The low contribution of Taxes on income, profits, and capital gains may hint at areas for improvement in tax structure and compliance to enhance overall revenue generation for the country's development.

Government Expenses

- Expense (% of GDP): Serbia's expense as a percentage of GDP is 44.54%, which is above the average of 31.69%. This places Serbia at rank 17 out of 123 countries analyzed in this data set.
- Compensation of employees (% of expense): Serbia's compensation of employees as a percentage of expense is 15.65%, below the average of 24.70%. Serbia ranks 83 out of 123 countries.
- Goods and services expense (% of expense): Serbia's goods and services expense as a percentage of total expense is 11.32%, below the average of 14.77%. The country ranks 67 out of 122 countries.
- Interest payments (% of expense): Serbia's interest payments as a percentage of expense stand at 4.26%, below the average of 6.85%. Serbia ranks 68 out of 121 countries.
- Other expense (% of expense): Serbia's other expenses as a percentage of total expense equal 5.85%, below the average of 8.29%. The country ranks 62 out of 120 countries.
- Subsidies and other transfers (% of expense): Serbia allocates 62.93% of its expense to subsidies and other transfers, which is above the average of 43.29%. This places Serbia at rank 25 out of 121 countries.

Summary

Serbia's expense as a percentage of GDP is higher than the average, with a significant portion allocated towards subsidies and transfers. However, the country lags behind in compensating employees and allocating funds to goods and services. This allocation imbalance can impact Serbia's economic development and societal well-being, as proper allocation towards employees and essential expenses is crucial for sustainable growth and stability.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Population ages 65 and above (% of total population) 12/194
Death rate, crude (per 1,000 people) 2/192
Revenue, excluding grants (% of GDP) 8/122

Ranks in Bottom Decile For:

Attribute Rank/Total
Population ages 0-14 (% of total population) 183/194
Birth rate, crude (per 1,000 people) 176/192
Other taxes (% of revenue) 99/106