Serbia or officially known as the Republic of Serbia is a country in the central part of the Balkan Peninsula in Southeastern Europe and is formerly part of Yugoslavia. The official currency of the Republic of Serbia is the Serbian dinar (RSD). It is subdivided into 100 para. The Serbian dinar (nickname: "din") is recognized as the post-Yugoslavia dinar. The currency is acknowledged by all of Serbia, except for Kosovo. The Serbian dinar has a lengthy and complex history with the region that would someday grow to become the Republic of Serbia.
Serbia's central bank, called the National Bank of Serbia, is the one that issues the Serbian dinar. coins are minted in 1, 2, 5, 10, 20 din increments, while banknotes are denominated in 10, 20, 50, 100, 200, 500, 1,000, 5,000 din. Serbia lies at the crossroads of Europe in the central Balkans, which has since been a key to dominating the territory and a path for conquering forces. Serbia has been controlled by numerous countries, and the history of the Serbian dinar closely mirrors the history of Serbia. In 2006, the Republic of Serbia achieved its full independence and does not partake in the European Union (EU).
The service industry dominates Serbia's market economy. The economy was stable before the financial crisis of the 2000s. Though, exports saw steady growth in the middle of the 2000s. The region has oil, natural gas, and coal reserves, and the World Bank classified it as an upper-middle-income economy. The country experienced a growth of 4.6% annual gross domestic product (GDP) in 2018, with an annual inflation deflator of 2.0%.
Serbia's GDP of 11,079 U.S. dollars makes it one of Europe's smaller economies, though globally, it's considered an upper-middle economy. GDP growth has been stable in recent years; its 8.7% GDP growth in 2008 put the country among the region's fastest-growing economies. Serbia's unemployment rate is relatively high, reaching 23.7% in February 2012. Also, Serbia has a huge trade deficit. And being a landlocked country with minimal natural resources, Serbia imported most necessities from its neighboring countries. The country has free trade agreements with Belarus, Russia, and the European Union. One of the country's biggest exports is raspberries. In addition, Serbia grows and provides nearly a third of the world's raspberries.