Association of Financial Institutions

The total gross value added (GVA) generated by the Financial sector was around 1.7 billion EUR in 2021, which is 3.8% of the country's total GVA and 3.2% of Serbia’s GDP. Observed by activities, around 1.3 billion EUR was created by financial service activities, except insurance and pension funding (79.2%), and 257.9 million EUR by insurance, reinsurance, and pension funding, except compulsory social security (15.3%). From 2017 to 2021, the GVA share of the financial sector in total GVA and GDP of the Republic of Serbia shows a slightly growing trend.

Export of financial services in 2022 amounted to 138.6 million EUR which is 1.3% of total export and export of these services are much higher in comparison with 2021, by 82.4%. This sector is hiring 42.3 thousand workers (1.9% of total employment) while most are employed in financial service activities, except insurance and pension funding (25.5 thousand). In the financial sector in 2022 operating 1.1 thousand active companies and 1.7 thousand entrepreneurs which is in total around 2.8 thousand