economy
April 1, 2026
“Capital has always been a timid beast”: FDI in Serbia is falling as investors increasingly withdraw money from the country, with reasons being both domestic and global
Foreign direct investment (FDI) in Serbia slowed sharply last year, while significantly more money was withdrawn from the country than entered it. Economists warn that global events, as well as the political crisis in Serbia and corruption, are influencing this.
TL;DR
- Net foreign direct investment (FDI) in Serbia in 2025 was 2.3 billion euros, more than halved compared to the previous year.
- Total FDI inflow was less than 3.5 billion euros, down 33.5%, while domestic companies invested 1.2 billion euros abroad, up 90.8%.
- Outflows of income from direct investments exceeded inflows, reaching nearly 4.9 billion euros, mainly due to dividends.
- Economists attribute the decline to reduced global capital mobility, rising domestic business costs, and Serbia's political crisis and corruption.
- Factors contributing to the fall include global instability (wars, conflicts), lack of clear EU integration path, increased operational costs, an unrealistic exchange rate, and state interference/corruption.
- Some analysts suggest investors view Serbia as a medium-term opportunity for benefits rather than a long-term prospect.
- Domestic investment is highlighted as crucial for future growth, as FDI is unlikely to return to previous high levels.