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Investment Safety
Bringing you closer to the prosperous and successful reality of Serbia
Since the onset of economic reforms in 2001, Serbia has grown into one of the premier investment locations in Central and Eastern Europe. By the end of 2008, FDI inflow in the country exceeded €12 billion, while in the past three years alone, Serbia attracted nearly over €9 billion of inward foreign direct investment.
The list of leading foreign investors is topped by world-class companies and banks such as Telenor, Lafarge, Mobilkom, Banca Intesa, AB InBev, Coca Cola, and many others.
Serbia's strong FDI track-record is substantiated by internationally recognized awards for local Greenfield investors. Between 2004 and 2006, Greenfield projects in Serbia were awarded by OECD for the largest investment projects of this type in South East Europe. The first Award was presented to Ball Packaging Europe (headquartered in USA), followed by METRO Cash & Carry (Germany), and Africa-Israel Corporation/Tidhar Group for their Airport City Belgrade real estate project.
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International companies in Serbia are guaranteed equal legal treatment as local ones. They are allowed to invest in any industry and freely transfer all financial and other assets, including profits and dividends.
Investment projects in the country are insured against non-commercial risks by all major national and international investment and export insurance agencies. Protection of foreign capital is further safeguarded by Bilateral Investment Treaties signed between Serbia and 33 other countries.
Serbia is a full member of the International Monetary Fund (IMF), the World Bank (WB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Council of Europe, the Partnership for Peace, and other international institutions.
In addition, the EU accession is a topmost national priority for the coming years. The Stabilization and Association Agreement (SAA) with the EU was inked in April 2008 and in December 2009 a formal application for the EU membership was submitted.
The country also aims to join the World Trade Organization (WTO) in the first half of 2010.
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Institution/Integration |
Status |
Year of Accession |
International Monetary Fund |
Full member |
2001 |
World Bank |
Full member |
2001 |
European Bank of Reconstruction and Development |
Full member |
2001 |
European Investment Bank |
Full member |
2001 |
Council of Europe |
Full member |
2003 |
Partnership for Peace |
Full member |
2006 |
World Trade Organization |
Full member |
2010 |
European Union |
SAA signed |
tbd |
Key Economic Indicators |
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2004 |
2005 |
2006 |
2007 |
2008 |
Gross Domestic Product (GDP) |
GDP, EUR mn |
19,075 |
20,358 |
23,521 |
29,543 |
34,2591 |
GDP, per capita,EUR |
2,556 |
2,736 |
3,174 |
4,002 |
4,6511 |
GDP, real growth rate, % |
8.3 |
5.6 |
5.2 |
6.9 |
5.4 |
Prices |
Inflation rate, y-o-y,% |
13.7 |
17.7 |
6.6 |
10.1 |
6.8 |
Salaries |
Average net monthly salary, EUR |
194 |
210 |
258 |
347 |
402 |
Employment and Unemployment |
Employed, 000 |
2,707 |
2,658 |
2,534 |
2,506 |
2,676 |
Unemployed, 000 |
n/a |
884 |
920 |
913 |
795 |
Unemployment rate, % |
26.0 |
25.0 |
26.6 |
27.7 |
22.9 |
Unemployment rate (ILO), % |
19.5 |
21.8 |
21.6 |
18.8 |
14.0 |
Foreign Trade |
Export of goods, EUR mn |
2,832 |
3,608 |
5,102 |
6,432 |
7,428 |
Import of goods, EUR mn |
8,623 |
8,439 |
10,463 |
13,507 |
15,581 |
Balance of goods, EUR mn |
-5,791 |
-4,831 |
-5,361 |
-7,075 |
-8,153 |
Inward FDI, EUR mn |
788 |
1,329 |
2,601 |
4,279 |
2,255 |
Foreign Currency Reserves, end of year, EUR mn |
3,780 |
5,524 |
9,593 |
10,897 |
9,122 |
Public Finance |
Public revenues, % of GDP |
n/a |
42.7 |
43.5 |
43.4 |
41.1 |
Public expenditures, % og GDP |
n/a |
41.8 |
45.1 |
45.4 |
43.1 |
Balance of public finance, % of GDP |
n/a |
0.9 |
-1.6 |
-2.0 |
-2.0 |
1Estimation |
Source: Statistical Office of Republic of Serbia, Ministry of Finance, National Bank of Serbia |
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