Serbia: Compensation of employees (current LCU)

Key figures

What the numbers say

In 2022, Serbia's compensation of employees (current LCU) rose 8.3% on 2021 (from 409.03 billion to 443.02 billion).

Across the 14 yearly changes before that (2008 to 2021), the average change was +4.9% and a typical year strayed about 11.1% from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 22.2% in 2008 and the biggest yearly fall was 26% in 2013. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2013 to 2022 the straight-line trend is upward, about 21.23 billion a year. A straight line explains 85% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

Closest to Serbia in the 2022 ranking

• Lao PDR — 1st of 8: 12.14 trillion
• Congo, Dem. Rep. — 2nd of 8: 6.58 trillion
• India — 3rd of 8: 4.32 trillion
• Equatorial Guinea — 5th of 8: 204.65 billion
• Australia — 6th of 8: 61.2 billion
• Ecuador — 7th of 8: 10.1 billion

What this measures

Compensation of employees is defined as the total remuneration, in cash or in kind, payable by an enterprise to an employee in return for work done by the latter during the accounting period. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 16 values

Compensation of employees (current LCU) in nearby economies

• Albania — 138.37 billion (2024)
• Armenia — 428.74 billion (2024)
• Austria — 24.3 billion (2024)
• Azerbaijan — 5.05 billion (2024)
• Belarus — 10.02 billion (2024)
• Belgium — 15.04 billion (2024)
• Bosnia and Herzegovina — 4.92 billion (2024)
• Bulgaria — 7.3 billion (2024)
• Croatia — 4.39 billion (2023)
• Cyprus — 3.66 billion (2024)

More public sector data for Serbia

• Armed forces personnel, total — 32,000 (2020)
• Armed forces personnel (% of total labor force) — 1.01% (2020)
• Military expenditure (current LCU) — 288.94 billion (2025)
• Military expenditure (% of GDP) — 2.76% (2025)
• Military expenditure (current USD) — 2.78 billion (2025)
• Military expenditure (% of general government expenditure) — 6.44% (2025)
• Intentional homicides, female (per 100,000 female) — 0.65 (2023)
• Intentional homicides, male (per 100,000 male) — 2.05 (2023)
• Intentional homicides (per 100,000 people) — 1.31 (2023)
• Arms imports (SIPRI trend indicator values)

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Questions people ask

What is Serbia's compensation of employees (current LCU)?

443.02 billion in 2022, according to the World Bank (World Development Indicators).

How has it changed since 2007?

It is up 94.17% from 228.17 billion in 2007 (4.52% a year on average, compounded). The highest value was 443.02 billion in 2022 and the lowest 228.17 billion in 2007.

Is the latest change in compensation of employees (current LCU) unusual for Serbia?

In 2022, Serbia's compensation of employees (current LCU) rose 8.3% on 2021 (from 409.03 billion to 443.02 billion). Across the 14 yearly changes before that (2008 to 2021), the average change was +4.9% and a typical year strayed about 11.1% from that (the standard deviation). This year's change was 0.3 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).

Source

World Bank, World Development Indicators, indicator GC.XPN.COMP.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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