This is the 237th most frequent Serbian word.
свету
"Свету" in Serbian means "to the world" or "world" in the dative/locative case.
In this sentence, 'свету' is in the locative case, referring to the world as the domain of discussion ('about the world').
Испричај ми нешто о свету ван ове куће.
Tell me something about the world outside of this house.
In this sentence, 'свету' is in the dative case, describing the world as a whole entity where everything exists.
Све у свету има своју цену.
Everything in the world has its price.
Here, 'свету' is in the locative case, denoting the location or domain ('in the world').