Serbia: Goods and services expense (current LCU)

Key figures

What the numbers say

In 2022, Serbia's goods and services expense (current LCU) rose 7.9% on 2021 (from 310.15 billion to 334.69 billion).

Across the 14 yearly changes before that (2008 to 2021), the average change was +6.6% and a typical year strayed about 7.8% from that (the standard deviation). This year's change was 0.2 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 18.3% in 2020 and the biggest yearly fall was 15.6% 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 21.93 billion a year. A straight line explains 93% 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

• Congo, Dem. Rep. — 1st of 8: 4.84 trillion
• Lao PDR — 2nd of 8: 3.81 trillion
• India — 3rd of 8: 2.33 trillion
• Equatorial Guinea — 5th of 8: 239.4 billion
• Australia — 6th of 8: 69.37 billion
• Ecuador — 7th of 8: 8.69 billion

What this measures

Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. 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

Goods and services expense (current LCU) in nearby economies

• Albania — 57.5 billion (2024)
• Armenia — 119.97 billion (2024)
• Austria — 15.41 billion (2024)
• Azerbaijan — 13.81 billion (2024)
• Belarus — 10 billion (2024)
• Belgium — 6.97 billion (2024)
• Bosnia and Herzegovina — 3.29 billion (2024)
• Bulgaria — 2.84 billion (2024)
• Croatia — 3.19 billion (2023)
• Cyprus — 1.21 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)

Reading data like this

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Questions people ask

What is Serbia's goods and services expense (current LCU)?

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

How has it changed since 2007?

It is up 152.77% from 132.41 billion in 2007 (6.38% a year on average, compounded). The highest value was 334.69 billion in 2022 and the lowest 132.41 billion in 2007.

Is the latest change in goods and services expense (current LCU) unusual for Serbia?

In 2022, Serbia's goods and services expense (current LCU) rose 7.9% on 2021 (from 310.15 billion to 334.69 billion). Across the 14 yearly changes before that (2008 to 2021), the average change was +6.6% and a typical year strayed about 7.8% from that (the standard deviation). This year's change was 0.2 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.GSRV.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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