Goods exchange of Serbia and Germany totals USD 3,4 billion in the first nine months 2014

In the first nine months of 2014, goods exchange of Serbia with Germany totaled USD 3,4 billion, USD 2 billion of which went to import from Germany and USD 1,4 billion to export to Germany, as the data of the Serbian Chamber of Commerce (PKS) showed.

As SCC said for Beta agency, in the first nine months of 2014, export of Serbia to Germany increased by some 9%, while import from Germany to Serbia increased 17% compared to the same period previous year.

SCC outlined that Germany is the most important foreign trade partner of Serbia within EU but that foreign exchange of Serbia with that country has been featured by constant deficit on Serbian side.

According to SCC, total goods exchange of Serbia and Germany in 2013 totaled USD 4, 2 billion which is 20% more than in 2012.

Last year, export from Germany totaled USD 2,4 billion and it increased 14% higher than in 2012, while import of Serbia to Germany in 2013 compared to 2012, increased by 29% and totaled USD 1,8 billion.

SCC outlines that according to NBS data on inflow of foreign direct investments in money, for the period 2000 to 2013, Germany is the fifth foreign investor in Serbia with investments of EUR 1,365 billion.

It was added that based on the data available from the Agency for foreign investments and export promotion(SIEPA), financially most intensive investments of German firms in Serbia were the acquisition of Hemofarm by German Stada (EUR 510 m), METRO Cash & Carry (EUR 165 m), Meser Tehnogas (EUR 120 m), Henkel (EUR 95 m) and Nordzuker( EUR 45 m EUR).

Major investments are: KnaufInsulation (EUR 31 m), Siemens (EUR 35 m), Fresenius Medical Care (EUR 25 m), Leoni Wiring System (EUR 15 m), Vosloh-Schwabe/Panasonic (EUR 13 m), Drakselmaer DAD (12 mil EUR), Norma Group (EUR 11 m) and Falke (EUR 10).

When it comes to investments of German firms in Serbia, as SCC announces, purchase of Kragujevac-based Mladost dairy by Meggle in March 2011 sets aside. SCC stresses out that some 360 firms in Serbia, set up by legal entities from Germany, hire 25.000 people, while their current investment scope since 2000 has reached EUR 1,6 billion.