Serbia: Final consumption expenditure (% of GDP)

Key figures

What the numbers say

In 2025, Serbia's final consumption expenditure (% of GDP) rose 1.39 percentage points on 2024 (from 79.53% to 80.92%).

Across the 29 yearly changes before that (1996 to 2024), the average change was −0.35 percentage points and a typical year strayed about 2.01 percentage points from that (the standard deviation). This year's change was 0.9 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 4.16 percentage points in 2001 and the biggest yearly fall was 4.33 percentage points in 2023. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is downward, about 0.82 percentage points a year. A straight line explains 86% 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.

A straight-line projection, tested first

Extending that straight line gives about 76.69% for 2028. We show this only because the same method, fitted on earlier years, predicted 2023 to 2025 better than "no change" would have: its average miss was 1.23%, against 3.99% for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2025, Serbia had the 54th highest value of the 132 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Serbia in the 2025 ranking

• North Macedonia — 51st of 132: 82.02%
• United Kingdom — 52nd of 132: 81.66%
• Armenia — 53rd of 132: 81.3%
• Latvia — 55th of 132: 80.52%
• Croatia — 56th of 132: 80.46%
• Niger — 57th of 132: 80.41%

What this measures

Final consumption expenditure is expenditure on goods and services by resident institutional units for the direct satisfaction of human needs or wants, whether individual or collective. Final consumption expenditure can be measured for households, general government, the central bank and non-profit institutions serving households. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

All 31 values

Final consumption expenditure (% of GDP) in nearby economies

• Albania — 82.04% (2025)
• Armenia — 81.3% (2025)
• Austria — 73.75% (2025)
• Azerbaijan — 74.9% (2025)
• Belarus — 74.48% (2025)
• Belgium — 76.27% (2025)
• Bosnia and Herzegovina — 89.67% (2025)
• Bulgaria — 79.32% (2025)
• Croatia — 80.46% (2025)
• Cyprus — 75.09% (2025)

More economic policy & debt data for Serbia

• External debt stocks, total (DOD, current US$) — US$51.98 billion (2024)
• Use of IMF credit (DOD, current US$) — US$2.64 billion (2024)
• External debt stocks, long-term (DOD, current US$) — US$48.35 billion (2024)
• External debt stocks, private nonguaranteed (PNG) (DOD, current US$) — US$20.37 billion (2024)
• External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$) — US$27.97 billion (2024)
• External debt stocks, short-term (DOD, current US$) — US$1 billion (2024)
• Short-term debt (% of total external debt) — 1.92% (2024)
• PPG, IBRD (DOD, current US$) — US$2.31 billion (2024)
• IBRD loans and IDA credits (DOD, current US$)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Serbia's final consumption expenditure (% of GDP)?

80.92% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1995?

It is down 8.78 percentage points from 89.7% in 1995. The highest value was 99.72% in 2001 and the lowest 79.53% in 2024.

Source

World Bank, World Development Indicators, indicator NE.CON.TOTL.ZS, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) 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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