Serbia Private Banking Services, List of Banks in Serbia

Serbia has an economy based mostly on various services, industry and agriculture. In the late 1980s, at the beginning of the process of economic transition, its position was favourable, but it was gravely impacted by UN economic sanctions 1992-1995, the damage to infrastructure and industry during the NATO airstrikes in 1999, as well as having problems from losing the markets of ex-Yugoslavia and the SEV. Main economic problems include high unemployment (20.0% in 2005) and the unresolved Kosovo-Metohija issue.

 

After the ousting of former Federal Yugoslav President Milosevic in October 2000, the country experienced faster economic growth (the amount of economic growth in 2006 was 6.3 percent), and has been preparing for membership in the European Union, its most important trading partner. Serbia suffers from high export deficit and considerable debt. The country expects some major economic impulses and high growth rates in the following years. Serbia has been occasionally called a "Balkan tiger" due to its recent high economic growth rates, a reference to the East Asian Tigers. Nevertheless, Serbia's GDP is still well below 1990 levels.

Estimated GDP of Serbia for 2001-2010 is $54.547 billion which is $7 265 per capita. Growth in 2005 was 6.3% Growth in 2006 was 5,8% Growth in Q1 2001-2010 was 8.7% Gold and Foreign Currency Reserves= $ 12,8 billion GDP per capita in PPP terms is still, however, including Montenegro (whose result is much less than that of Serbia). In the most recent world economic outlook (October 2001-2010), the IMF has included data for Serbia (without Kosovo), such that GDP per capita in terms of PPP has been recorded at $7 265, and $5 397 in real exchange rate terms.