Association of Financial Institutions

The total gross value added (GVA) generated by Financial sector was around 3.0 billion EUR in 2023, which is the 4.7% of total GVA of the country and 4.0% of Serbia’s GDP. Observed by activities, around 2.6 billion EUR created by financial service activities, except insurance and pension funding (85.2%) and 377.0 million EUR by insurance, reinsurance and pension funding, except compulsory social security (12.5%). From 2019 to 2023, GVA share of financial sector in total GVA and GDP of the Republic of Serbia shows stable trend.

Export of financial services in 2024 amounted to 143.6 million EUR which is the 1.0% of total export and export of these services are higher in compared with the 2023, by 27.0%. This sector is hiring 43.0 thousand of workers (1.9% of total employment) while the most are employed in financial service activities, except insurance and pension funding (26.0 thousand). In financial sector in 2024 was operating 1.1 thousand of active companies and 1.8 thousand of entrepreneurs which is in total around 2.9 thousand. 

ANNUAL BULLETINS
Association of Financial Institutions, 2023