Serbia's manufacturing, value added (constant LCU) was 1.02 trillion in 2024, the latest year in the World Bank's World Development Indicators. That is up 17.33% from 865.3 billion in 2014 (1.61% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1.02 trillion | 2024 |
| Five years earlier | 929.09 billion | 2019 |
| Ten years earlier | 865.3 billion | 2014 |
| Highest | 1.02 trillion | 2024 |
| Lowest | 472.69 billion | 1995 |
| Average since 2015 | 938.73 billion | 2015–2024 |
| First recorded | 472.69 billion |
What the numbers say
In 2024, Serbia's manufacturing, value added (constant LCU) rose 4.6% on 2023 (from 970.68 billion to 1.02 trillion).
Across the 28 yearly changes before that (1996 to 2023), the average change was +2.8% and a typical year strayed about 7% 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 16.3% in 2000 and the biggest yearly fall was 16.4% in 1999. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 11.35 billion a year. A straight line explains 82% 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.
How it compares
In 2024, Serbia had the 6th highest value of the 37 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 2024 ranking
What this measures
Manufacturing includes industries classified in ISIC (Rev. 3) major division C and is defined as the physical or chemical transformation of materials or components into new products. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 30 values
| Year | Manufacturing, value added (constant LCU) |
|---|---|
| 2024 | 1,015,245,430,750 |
| 2023 | 970,675,590,376 |
| 2022 | 962,042,800,000 |
| 2021 | 951,826,200,000 |
| 2020 | 910,636,363,416 |
| 2019 | 929,093,873,083 |
| 2018 | 937,400,296,841 |
| 2017 | 924,171,308,590 |
| 2016 | 901,174,770,661 |
| 2015 | 885,014,935,945 |
Manufacturing, value added (constant LCU) in nearby economies
- Albania — 128.81 billion (2025)
- Andorra — 93.83 million (2024)
- Armenia — 754.82 billion (2025)
- Austria — 69.84 billion (2025)
- Azerbaijan — 2.24 billion (2025)
- Belarus — 52.02 billion (2025)
- Belgium — 59.19 billion (2025)
- Bosnia and Herzegovina — 5.39 billion (2025)
- Croatia — 7.28 billion (2025)
- Cyprus — 1.32 billion (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
Questions people ask
- What is Serbia's manufacturing, value added (constant LCU)?
- 1.02 trillion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1995?
- It is up 114.78% from 472.69 billion in 1995 (2.67% a year on average, compounded). The highest value was 1.02 trillion in 2024 and the lowest 472.69 billion in 1995.
- How does Serbia rank?
- 6th highest of 37 economies with data for 2024.
- Is the latest change in manufacturing, value added (constant LCU) unusual for Serbia?
- In 2024, Serbia's manufacturing, value added (constant LCU) rose 4.6% on 2023 (from 970.68 billion to 1.02 trillion). Across the 28 yearly changes before that (1996 to 2023), the average change was +2.8% and a typical year strayed about 7% 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.
Source
World Bank, World Development Indicators, indicator NV.IND.MANF.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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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