Serbia

According to the data of the Statistical Office of the Republic of Serbia, the gross value added (GVA) in the chemical, rubber and non-metal industries in 2024, amounted to EUR 1.8 billion, which accounts for 2.5% of the total realized GVA of the Republic of Serbia, with the year-on-year real growth rate of 8.3%.

In the structure of gross value added of the section of manufacturing, the largest share accounted for the manufacture of rubber and plastic products, 7.6% (EUR 805.0 million), and the manufacture of non-metallic mineral products, 3.9% (EUR 416.0 million). The realized GVA in the manufacture of chemicals and chemical products amounts to EUR 407.0 million (3.9% of GVA of the section of manufacturing), and in other mining and quarrying EUR 169.0 million (6.9% of GVA of the section of mining and quarrying).

The highest year-on-year gross value added growth was recorded in the manufacture of rubber and plastics (15.3%), while the biggest decline was registered in the manufacture of non-metallis mineral products (-0.5%).

Turnover

The total realized turnover, i.e. the total value of sold products and services in the non-financial business economy in the Republic of Serbia, in 2024, amounted to EUR 174.2 billion, which constitutes a year-on-year growth of 8.4%. In 2024, the chemical, rubber and non-metal industries recorded the total turnover of EUR 8.3 billion, which accounts for 4.8% of the realized turnover in the non-financial business economy in the observed year. Since 2020, the turnover in these industries has recorded the progressive year-on-year growth rates.

How are we doing?

Industrial Production

In 2025, in the section of manufacturing, industrial production grew by 1.1% as compared with 2024. If the period from 2020 is observed, it is noticed that this economic indicator has recorded a continued year-on-year growth. In 2025, the growth in industrial production of 4.7% was recorded in the section of mining and quarrying.

Production increased the most in the production of rubber and plastics, by 16.6%, while a smaller increase was recorded in the manufacture of non-metallic mineral products, by 0.3%. In the manufacture of chemicals and chemical products, the level of industrial production in 2025 was reduced by 0.3% compared to 2024. In the five-year period (2021–2025), the highest average annual growth in industrial production was recorded in the manufacture of rubber and plastic, namely 6.0%, while the largest decline in industrial production was achieved in the manufacture of chemicals and chemical products (-1.5%).

Employment

According to the data of the Statistical Office of the Republic of Serbia, in 2025, the total of 2.3 million employees were registered in the Republic of Serbia at legal entities and with entrepreneurs. In 2025, the number of employees at legal persons and with entrepreneurs in the chemical and rubber industry, manufacture of non-metallic mineral products and other mining and quarrying reached 66,539, which is higher by 0.3% as compared with 2024.

The majority of employees are in the activity of manufacture of rubber and plastic products, 34,345 (y-o-y growth of 1.1%), whereas the lowest number of employees is in other mining and quarrying, specifically 3,041 (y-o-y drop of 6.9%).

In the total number of employees in the Republic of Serbia, the share of employees in the chemical and rubber industry, manufacture of non-metallic mineral products and other mining and quarrying is 2.9%. The five-year average growth of employees (2021-2025) in the above industries amounts to 1.0%.

Salaries and Wages

In the period January-December 2025, the average salaries and wages paid out in the Republic of Serbia amounted to EUR 1,289, whereas the average salaries and wages without taxes and contributions (net) stood at EUR 934. The growth in gross and net salaries and wages, in the period January-December 2025, as compared with the same period in 2024, amounted to 11.6% nominally, i.e. 7.5% in real terms.

In 2025, the highest average salaries and wages were paid out in the manufacture of chemicals and chemical products (EUR 1,473), and they were higher by 14.3% as compared with the average salaries and wages in the Republic of Serbia. In other mining and quarrying, the average salaries and wages are lower as compared with the Republic average by 1.1%, in the manufacture of rubber and plastic products was lower by 1.8% compared with the Republic average, whereas the lowest salaries and wages were recorded in the manufacture of non-metallic mineral products, and they amount to EUR 1,204 (6.6% below the republic average). The largest increase in the average salaries and wages, in 2025, as compared with 2024, was recorded in the manufacture of chemicals and chemical products (7.7%) and in the manufacture of non-metallic mineral (8.7%), while the drop was not recorded in any activity of these industries.

Foreign Trade

In 2025, the export of chemical, rubber and plastic products and other non-metallic mineral products amounted to EUR 4.8 billion, which was higher by 18.6% as compared with 2024 and, at the same time, accounts for 14.5% of the total goods export of the Republic of Serbia. The average annual export growth rate in the five-year period (2021-2025) amounts to 8.5%.

In 2025, the value of import amounted to nearly EUR 5.7 billion, which is higher by 4.9% as compared with 2024, and accounts for 13.7% of the total import of the Republic of Serbia. The average annual import growth rate in the five-year period (2021-2025) amounts to 7.1%.

The deficit in foreign trade in chemical, rubber and plastic products and other non-metallic mineral products amounted to EUR 930.7 million, with the coverage of import by export of 83.7%. The highest export was recorded with rubber and plastic products (EUR 2.8 billion), which is higher by 25.9% as compared with 2024, along with the recorded positive foreign trade balance (EUR 1.1 billion).

Total Realized Investments

The total realized investments in fixed assets in the chemical, rubber and non-metal industries, in 2024, amounted to EUR 915.2 million, out of which 55.1% was realized in the manufacture of rubber and plastic products (EUR 504.4 million), 19.9% in the manufacture of other non-metallic mineral products (EUR 181.9 million), and 15.8% in the manufacture chemicals and chemical products (EUR 145.0 million).

In the structure of these investments, the investments in domestic and imported equipment had the largest share (62.9%). Lower investments were made in buildings and civil engineering (32.7%), whereas the remaining 4.4% accounts for investments in intellectual property – research and development, software, databases and other.

Foreign Direct Investments

According to the preliminary data of the National bank of Serbia, in 2025, the total net inflow of FDIs in the Republic of Serbia, on ground of investments of non-residents, amounted to EUR 3.5 billion.

In the manufacture of chemicals, chemical products and rubber and plastic products, the net inflow of EUR 269.4 million was recorded, which accounts for 7.7% of total FDIs in the Republic of Serbia. In the manufacture of rubber and plastic products, the net inflow of FDIs was recorded on ground of investments of non-residents, in the amount of EUR 225.1 million, and in the manufacture of chemicals and chemical products, EUR 44.3 million.

In the five-year period (2021-2025) the total net inflow of FDIs in the chemical, rubber and non-metal industries amounted to EUR 1.9 billion, and the highest inflow was recorded in 2022 (EUR 570.2 million).