Serbia economic growth was affirmed at 0.7% YoY in Q1 2023, an increase from the revised 0.5% growth in the previous quarter. Net foreign demand negatively impacted GDP, characterized by slowing exports, which dipped to 8.3% from 12.9%, and falling imports, which dropped to -1.8% from 6.6%. On a seasonally adjusted quarterly basis, Serbia’s economy contracted by 0.2%, reversing the 0.6% increase observed in the preceding three-month period.