The Serbian Business Registers Agency (APR) has published the Annual Business Performance Report for 2024, providing a detailed overview of the financial results of companies and entrepreneurs. Although 2024 was a challenging year, the report highlights the following key economic indicators:
- Revenue growth: Total business revenues increased by 5.3%, reaching RSD 20,087 billion;
- Net profit: Despite a 9.9% decrease in profit, a positive net result of RSD 866.3 billion remained for most business entities;
- Expenses: Total expenses rose by 6.0%, amounting to RSD 18,988 billion.
Wholesale and retail trade, manufacturing, and mining sectors recorded the highest profits, while the public sector operated at a loss:
- Wholesale and retail trade remains the largest sector of the economy, with total revenues of RSD 207.6 billion, marking a 5.4% increase compared to the previous year. This sector also employs around 244,536 workers;
- The manufacturing industry demonstrated growth with a profit of RSD 176.2 billion, a 14.6% increase. This sector employs around 400,881 workers;
- The mining sector achieved a profit of RSD 143.7 billion, though it saw a decline compared to the previous year.
The public sector continues to operate at a loss, with RSD 8.1 billion in negative results, indicating the need for reforms and improvements in the business models of public enterprises. The year 2024 laid a solid foundation for further economic growth, while also revealing new challenges for entrepreneurs and companies – especially within the public enterprise sector and public finance system.
To ensure continued growth, the following measures are necessary:
- Improvement of the business environment for small and medium-sized enterprises;
- Reduction of losses in public companies and their restructuring;
- Further investments in the manufacturing sector, especially in technological innovation and digitalization;
- Advancement of the mining sector and energy efficiency.
For more details on the business performance in 2024, sectoral analyses, and other key indicators, please read the full report at the following link. Stay tuned for more updates and insights!
For additional information or consultations, the Tasić & Partners team is at your disposal.