Serbia’s environmental goods and services sector recorded approximately €2.24 billion in production value in 2024, generating €649 million in gross value added and €273 million in exports, while supporting 35,314 full-time-equivalent jobs.
Final figures published by the Statistical Office of Serbia on October 23 cover activities related to environmental protection and resource management. The euro amounts are approximate conversions from dinar-denominated statistics, using an exchange rate of 117.5 dinars per euro.
Infrastructure Investment Supports Domestic Industry
Investment in wastewater treatment, waste management and environmental protection creates demand for engineering design, construction, equipment installation and long-term maintenance. Internationally financed projects can provide opportunities for Serbian contractors and suppliers, although domestic companies’ share of project expenditure depends on procurement conditions, technical qualifications and the use of imported equipment.
Wastewater projects require collection networks, pumping systems, treatment plants and associated electrical and mechanical equipment. Feasibility studies, environmental assessments, construction supervision, commissioning and maintenance can generate business beyond initial construction.
Waste-management investment includes transfer stations, recycling and treatment facilities, logistics, monitoring equipment and mechanical handling systems. Commercial performance depends on effective collection and separation, municipal operating capacity, material quality, commodity prices and processing costs.
Industrial Compliance and Exports Create Market Opportunities
Manufacturers face requirements concerning emissions, wastewater and industrial waste, creating demand for emissions monitoring, treatment systems, process optimisation and technical verification.
For Serbian exporters, environmental performance can influence relationships with European customers. The Carbon Border Adjustment Mechanism (CBAM) applies to specified imported goods and their embedded emissions, rather than automatically covering every environmental service or industrial product.
The sector’s €273 million in exports represented approximately 12% of reported production value in 2024. This is an indicative comparison because production and exports are different accounting measures.
International expansion may depend on product certification, technical standards, delivery reliability and after-sales support. Developing higher-value equipment and specialist services could help domestic suppliers compete for more demanding contracts.
Financing and Skills Remain Important
Environmental projects create financing needs across the supply chain, including working capital for contractors, production-expansion loans for equipment manufacturers and funding for specialist technology. Banks must distinguish between confirmed contracts, recurring service revenues and investments based on anticipated future demand.
European development institutions finance environmental infrastructure across Serbia and the wider Western Balkans, providing long-term funding and technical assistance while imposing procurement, environmental and social requirements. Serbian companies may need stronger project management, quality assurance and reporting capabilities to compete for these projects.
The sector also depends on civil, mechanical, electrical, chemical and environmental engineers, alongside specialists in procurement, commissioning and operations. Competition for experienced personnel can increase costs and delay implementation. Investment returns ultimately depend on sound project design, appropriate procurement, construction supervision, successful commissioning and sustainable maintenance. The sector’s existing production base provides a foundation for further activity, but long-term economic and environmental benefits will depend on whether projects operate reliably and domestic companies capture a greater share of the resulting business.
