Gross domestic product

BELGRADE - The Serbian economy continues to grow and develop, as confirmed by the latest statistical data indicating that Serbia's GDP grew by 3.8 pct in Q4 2023, compared to 2.5 pct growth during the entire last year, Serbian Finance Minister Sinisa Mali said in a statement.

TIRANA - Serbian President Aleksandar Vucic said on Thursday Serbia would double its GDP to 140 or 150 bln euros over the next ten years.

The Turkish economy grew by 4.5 percent last year after expanding 5.5 percent in 2022, the data from the Turkish Statistical Institute (TÜİK) have shown, slightly exceeding the government's forecast.

In the medium-term program, the government had predicted a growth rate of 4.4 percent for 2023.

The illegal economy recorded a significant decline in Greece from 2013 to 2021, excluding the year of the pandemic in 2020, according to a report by researchers at the International Monetary Fund.

Preliminary figures released by the Office for National Statistics (ONS) have revealed that the British economy has officially entered a recession in the latter half of 2023. The grim data indicates a contraction in GDP for two consecutive quarters, marking what economists term as a "technical recession."

Japan has slipped to the world's fourth-largest economy, as government data released Thursday showed it fell behind Germany's in 2023.

The numbers highlight how the Japanese economy has gradually lost its competitiveness and productivity while the population shrinks as Japanese people age and have fewer children, analysts say.

According to the express estimates of the National Statistical Institute, during the fourth quarter of 2023, the gross domestic product (GDP) increased by 1.6% compared to the same period of the previous year and by 0.5% compared to the third quarter of 2023, based on seasonally adjusted data.

The information and communication technology sector is the undisputed champion of growth in Cyprus, as revealed by GDP data published by the Statistical Service of Cyprus (CyStat), highlighting the momentum of the sector as a component of the Cypriot GDP.

BELGRADE - Serbia's real GDP was up by 3.8 pct y-o-y in Q4 2023, the Serbian national statistical office RZS said on Wednesday in a flash estimate of constant-price GDP growth.

The RZS also said a more detailed GDP calculation for Q4 2023, performed at lower aggregation levels, would be published on February 29.

Preliminary data from the European statistical office Eurostat reveals that the Eurozone and the European Union managed to maintain economic stability in the fourth quarter of 2023, bouncing back from a 0.1% contraction in GDP during the previous quarter.