Serbia - GDP per person employed (constant 2011 PPP $)

The latest value for GDP per person employed (constant 2011 PPP $) in Serbia was 43,932 as of 2020. Over the past 25 years, the value for this indicator has fluctuated between 50,445 in 2012 and 19,900 in 1995.

Definition: GDP per person employed is gross domestic product (GDP) divided by total employment in the economy. Purchasing power parity (PPP) GDP is GDP converted to 2011 constant international dollars using PPP rates. An international dollar has the same purchasing power over GDP that a U.S. dollar has in the United States.

Source: International Labour Organization, ILOSTAT database. Data retrieved in September 2019.

See also:

Year Value
1995 19,900
1996 21,143
1997 22,959
1998 23,793
1999 21,352
2000 22,532
2001 24,248
2002 26,158
2003 27,798
2004 31,690
2005 35,677
2006 39,303
2007 40,463
2008 40,231
2009 42,245
2010 46,295
2011 50,292
2012 50,445
2013 48,920
2014 43,388
2015 43,744
2016 42,618
2017 42,262
2018 43,532
2019 44,277
2020 43,932

Development Relevance: Labor productivity is used to assess a country's economic ability to create and sustain decent employment opportunities with fair and equitable remuneration. Productivity increases obtained through investment, trade, technological progress, or changes in work organization can increase social protection and reduce poverty, which in turn reduce vulnerable employment and working poverty. Productivity increases do not guarantee these improvements, but without them - and the economic growth they bring - improvements are highly unlikely. GDP per person employed is a key measure to monitor whether a country is on track to achieve the Sustainable Development Goal of promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. [SDG Indicator 8.2.1]

Limitations and Exceptions: For comparability of individual sectors labor productivity is estimated according to national accounts conventions. However, there are still significant limitations on the availability of reliable data. Information on consistent series of output in both national currencies and purchasing power parity dollars is not easily available, especially in developing countries, because the definition, coverage, and methodology are not always consistent across countries. For example, countries employ different methodologies for estimating the missing values for the nonmarket service sectors and use different definitions of the informal sector.

Statistical Concept and Methodology: GDP per person employed represents labor productivity — output per unit of labor input. To compare labor productivity levels across countries, GDP is converted to international dollars using purchasing power parity rates which take account of differences in relative prices between countries.

Aggregation method: Weighted average

Base Period: 2011

Periodicity: Annual

Classification

Topic: Labor & Social Protection Indicators

Sub-Topic: Economic activity