Serbia: Revenue, excluding grants (current LCU)

Key figures

What the numbers say

In 2022, Serbia's revenue, excluding grants (current LCU) rose 26.9% on 2021 (from 2.27 trillion to 2.88 trillion).

Across the 14 yearly changes before that (2008 to 2021), the average change was +6.9% and a typical year strayed about 6% from that (the standard deviation). This year's change was 3.3 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 26.9% in 2022. 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 127.1 billion a year. A straight line explains 90% 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 3 trillion for 2025. We show this only because the same method, fitted on earlier years, predicted 2020 to 2022 better than "no change" would have: its average miss was 172.5 billion, against 248.83 billion 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.

Closest to Serbia in the 2022 ranking

• Lao PDR — 1st of 8: 30.21 trillion
• India — 2nd of 8: 24.5 trillion
• Congo, Dem. Rep. — 3rd of 8: 18.71 trillion
• Equatorial Guinea — 5th of 8: 2.26 trillion
• Australia — 6th of 8: 610.66 billion
• Ecuador — 7th of 8: 35.96 billion

What this measures

Revenue is an increase in net worth resulting from a transaction. Grants are excluded from this figure. 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

Revenue, excluding grants (current LCU) in nearby economies

• Albania — 657.57 billion (2024)
• Armenia — 2.46 trillion (2024)
• Austria — 222.69 billion (2024)
• Azerbaijan — 49.21 billion (2024)
• Belarus — 71.81 billion (2024)
• Belgium — 234.96 billion (2024)
• Bosnia and Herzegovina — 20.23 billion (2024)
• Bulgaria — 36.06 billion (2024)
• Croatia — 27.78 billion (2023)
• Cyprus — 13.87 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

• 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 revenue, excluding grants (current LCU)?

2.88 trillion in 2022, according to the World Bank (World Development Indicators).

How has it changed since 2007?

It is up 215.6% from 913.61 billion in 2007 (7.96% a year on average, compounded). The highest value was 2.88 trillion in 2022 and the lowest 913.61 billion in 2007.

Is the latest change in revenue, excluding grants (current LCU) unusual for Serbia?

Source

World Bank, World Development Indicators, indicator GC.REV.XGRT.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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