Serbia's Ministry of Finance and Economy stated that industrial production in February this year increased by 13% in relation to the same month last year, while the processing industry increased 17%. Industrial production increased 7.5% in the first two months of 2013 against the same period last year, while the processing industry increased 10%.
These data, together with those on strong 30.6% growth of commodity export in early 2013, confirm that Serbian industrial production is recovering, which will contribute to GDP growth this year.

The strong growth in the first two months of 2013, compared to the same period of 2012, was recorded primarily in automotive industry, furniture industry, pharmaceutical industry, and the manufacture of tobacco products.

The greatest impact on the growth of industrial production in February 2013, compared to the same month last year, was mainly due to the increase of manufacture of motor vehicles and trailers (almost three times up), manufacture of tobacco products (85% up), manufacture of oil products (58% up), manufacture of non-metallic minerals (up 43%), manufacture of chemical products (up 23%), while the production of furniture increased by 31%.

The Serbian government will through its economic policy measures try to have these encouraging trends continue.
The Ministry of Finance and Economy is in the final stage of drafting an action plan of Serbia’s reindustrialisation offering concrete measures to boost the economy, exports and employment.

Priority in the action plan will be given to the automotive industry, information technology, food and defence industry, the statement added. Source; Government