Location
Southeastern Europe, central part of the Western Balkans
Form of Government
Parliamentary Republic
Capital city
Belgrade, about 1.7 million inhabitants
Territory
88,499 km2
Population
6,6 million (the data for AP Kosovo and Metohia excluded)
Borders with
Hungary, Romania, Bulgaria, North Macedonia, Albania, Montenegro, Bosnia and Herzegovina and Croatia
Official language
Serbian
National currency
RSD – Serbian Dinar
Time zone
GMT+1
GDP€ 84.3 bn2024
GDP PS12,508 €2024
USD/RSD113.0666Exchange rate (as of 31-12-2024)
EUR/RSD117.0871Exchange rate (as of 31-12-2024)
EU Integration
Serbia formally started negotiations to join EU on 21st January 2014.
Credit ratings
Fitch Ratings
BB+/positive
S&P
BBB-/stable
Moody's
Ba2/positive
S&P Ratings has increased credit rating of Serbia to BBB-/stable.
Functional infrastructure
Transport, Energy, Telecommunications.
IBM Global Locations Trend 2020
World leader by the number of new jobs created per capital
Financial Times
The first out of 94 countries in the world by the greenfield FDI performance Index.
GEOSTRATEGIC POSITION
PR China – Serbia FTA 2024
EU + EFTA + UK Trade Agreements
EAEU + Turkey Free Trade Agreement
CEFTA Free Trade Agreement
Generalized System of Preferences
Ratified agreement
Agreement in force since June 1st
GSP
EPA-Economic Partnership Agreement
Goods made in Serbia benefit from several Free Trade Agreements and Generalized System of Preferences which provide simplified placement on markets with 2,6 bn people.
PR China – Serbia FTA 2024First free trade agreement of its kind between China and a nation from CEE, which entered into force on 1 July 2024.
EU + EFTA + UK Trade AgreementsEAEU + Turkey Free Trade AgreementTheonlycountry in Europe to have the Euroasian Economic Union free trade agreement.
CEFTA Free Trade AgreementGeneralized System of PreferencesSerbian unique trade agreement expand even beyond Europeanand Asian continentail routes.
Ratified agreementAgreement in force since June 1stGSPThe current GSP status is inactive due to changes by the US administration and the introduction of new tariff rates.
EPA-Economic Partnership AgreementIn the following period, the signing of the Free Trade Agreement (the so-called Economic Partnership Agreement - EPA-Economic Partnership Agreement) between the Republic of Korea and the Republic of Serbia is expected.
Value Added Tax
Corporate Tax
Average Gross Monthly Salary (EUR), 2024.
2024 - Average Net Salary €830Total cost for employer (Gross 2) € 1.267
Free zones
15 Free Zones
Over 254 companies
40.067 employees
No customs and import duties for goods required for business operations
In 2022 the total value of exchanged goods and services within the zones reached €6 bn
VAT exemptions for energy consumption, entry of goods or selling of goods and services within zones
FZ Pirot has been ranked twice on the list of the best free zones in the world (“Financial Times” 2017 and 2018)
Import and export of goods and services without any quantitative restrictions
Highly qualified workforce
University of Belgrade is ranked as one of Top 400 Universities (’’Shanghai’’ list)
Highly educated young workforce with around 50,000 university and college graduates, and 75,000 high school graduates every year
Serbia is 15th among 88 countries in the world with high proficiency level of English (’’Education First’’ list)
Macroeconomic background
GDP GROWTH (%)
Gross Value Added Structure
Agriculture
Construction
Industry
Services
