The Evolution of Foreign Direct Investment

The inward foreign direct investment (FDI) stock in Serbia increased nearly two and a half times between 2010 and 2022, rising from about $22.3 billion to about $53.5 billion, a 140% increase.

Serbia's outward direct investments are modest compared to its inward foreign investments. The outward investment stock increased from about $2 billion to about $4.5 billion between 2010 and 2022, a 125% increase.

Regarding the annual flow of investments into Serbia, there was a noticeable fluctuation, with a minimum of $3.5 billion in 2020 and approximately $4.6 billion in each of the last two years.

Serbia's outward investment flows, in addition to being lower compared to inward investments, have generally taken a downward trend over most of the period, decreasing from $363 million in 2018 to just $112 million in 2022.