Total factor productivity in Serbia
Serbia: Total factor productivity was 0.9939 in 2023. ▲ Rising
Total factor productivity in Serbia, 1994–2023
Source: Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data.
Analysis
Serbia recorded 0.9939 for total factor productivity in 2023.
That represents a change of up 2.2% on the previous year and down 2.7% over ten years.
Over the whole period, total factor productivity in Serbia peaked at 1.02 in 2013 and was at its lowest, 0.4374, in 1994.
Serbia ranks 59th of 120 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 30 years of available data.
Total factor productivity in Serbia, year by year
| Year | Value | Change |
|---|---|---|
| 1994 | 0.4374 | — |
| 1995 | 0.4645 | +6.2% |
| 1996 | 0.4939 | +6.3% |
| 1997 | 0.5005 | +1.3% |
| 1998 | 0.5178 | +3.5% |
| 1999 | 0.5722 | +10.5% |
| 2000 | 0.6162 | +7.7% |
| 2001 | 0.6602 | +7.1% |
| 2002 | 0.7164 | +8.5% |
| 2003 | 0.7533 | +5.1% |
| 2004 | 0.8015 | +6.4% |
| 2005 | 0.866 | +8.1% |
| 2006 | 0.9049 | +4.5% |
| 2007 | 0.9284 | +2.6% |
| 2008 | 0.922 | -0.7% |
| 2009 | 0.9227 | +0.1% |
| 2010 | 0.9698 | +5.1% |
| 2011 | 1.01 | +4.1% |
| 2012 | 0.9938 | -1.5% |
| 2013 | 1.02 | +2.8% |
| 2014 | 0.9989 | -2.2% |
| 2015 | 0.9606 | -3.8% |
| 2016 | 0.9557 | -0.5% |
| 2017 | 0.9608 | +0.5% |
| 2018 | 0.975 | +1.5% |
| 2019 | 0.9864 | +1.2% |
| 2020 | 0.9686 | -1.8% |
| 2021 | 1 | +3.2% |
| 2022 | 0.9725 | -2.7% |
| 2023 | 0.9939 | +2.2% |
Serbia compared with similar countries
- Serbia's 0.9939 is above the median for upper middle income countries, which is 0.9902, 1.0× the median. (33 countries reporting)
- Serbia's 0.9939 is below the median for Europe & Central Asia, which is 0.9969, 100% of the median. (40 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.4977 | 0.4374 | 0.5722 | 6 |
| 2000s | 0.8092 | 0.6162 | 0.9284 | 10 |
| 2010s | 0.9831 | 0.9557 | 1.02 | 10 |
| 2020s | 0.9838 | 0.9686 | 1 | 4 |
Countries ranked near Serbia
More economy & growth data for Serbia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.7 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.33 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0133 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 203.25 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 3.94 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -29.57 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0394 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 600.86 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 12.03 % change on previous year (2025)
Frequently asked questions
- What is total factor productivity in Serbia?
- Total factor productivity in Serbia was 0.9939 in 2023, according to Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest total factor productivity recorded in Serbia?
- The highest recorded value was 1.02 in 2013.
- What is the lowest total factor productivity recorded in Serbia?
- The lowest recorded value was 0.4374 in 1994.
- How does Serbia rank for total factor productivity?
- Serbia ranks 59th out of 120 countries with data for 2023.
- Is total factor productivity rising or falling in Serbia?
- Over the last ten years it is down 2.7%. The long-run trend across the full record is rising.
- Where does this Serbia data come from?
- The figures come from Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data, published as part of Total factor productivity. Statizoid updates them automatically from the source API.
Download this data
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About this data
This is the level of total factor productivity, relative to each country's value in 2021 (which is set to 1). This data is adjusted for inflation and differences in living costs between countries.