Economy of Serbia

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The economy of Serbia is a service-based upper middle income economy with the tertiary sector accounting for two-thirds of total gross domestic product (GDP) and functions on the principles of the free market. Nominal GDP in 2019 is projected to reach $51.523 billion, which is $7,397 per capita, while GDP based on purchasing power parity (PPP) stood at $129.298 billion, which is $18,564 per capita. The strongest sectors of Serbia's economy are energy, automotive industry, machinery, mining, and agriculture.