Current macroeconomic data show that the economic activity in Serbia keeps recovering rapidly, mainly because of the foreign demand recovery and real dinar depreciation over the last period, the National Bank of Serbia (NBS) has assessed in a statement.

In the second trimester of 2010, GDP increased by 2 percent in comparison to the same time last year, which was slightly more than the 1.8 percent the NBS predicted in its latest inflation report, reads the statement.

When compared to August 2009, the industrial production increased by 3.4 percent in the same month this year, while the total of this year's industrial production increased by 4.7 percent in comparison to last year.

The steady industry growth, especially in manufacturing industry, will greatly contribute to the expected GDP growth for this year, the central bank said.

In boosting the country's export lies the key to the economic revival - the growth of the exports from January to August 2010 reached 20.3 percent, while it amounted to 25.4 percent only in August. This reflected on the relatively high growth rates in the manufacturing industry which reached 5 percent in August 2010.

Due to the recovery in the economic activity, the imports, when expressed in euros, also record growth - seven percent in the first eight months, and 21.1 percent only in August.