Serbia's export grows by 9.5% in eight months – Foreign trade deficit lowered to USD 2.9 billion

The value of the export of goods from Serbia in the eight months of 2016 amounted to USD 9.7 billion, which is a growth of 9.5% compared to the corresponding period of 2015, reported the Statistical Office of the Republic of Serbia. Expressed in euros, the export amounted to EUR 8.7 billion and was 9.3% higher than last year.

In the first eight months, goods in the amount of USD 12.6 billion were imported to Serbia, which is 6% more than last year, whereas the import expressed in euros amounted to EUR 11.3 billion and was larger by 5.8%.

The total foreign trade of Serbia from January till June amounted to RSD 22.3 billion and is 7.5% larger than last year. Expressed in euros, it amounted to EUR 20 billion, a growth of 7.3%.

The foreign trade deficit amounted to USD 2.9 billion, 4.4% lower than last year. Expressed in euros, it was lowered by 4.5% to EUR 2.6 billion. The export/import ratio was 77.2%, whereas last year it was 74.8%.

The biggest share in Serbia's export belongs to Vojvodina (31.2%), followed by the Sumadija and Western Serbia region (27.3%), the Belgrade region (25%), and the Southern and Eastern Serbia region (16.3%). The Belgrade region imported the most (45.3%), followed by Vojvodina (26.2%), Sumadija and Western Serbia (17.6%) and Southern and Eastern Serbia (10%).

Serbia's main foreign trade partners in export were Italy (USD 1.5 billion), Germany (USD 1.3 billion), Bosnia and Herzegovina (USD 809.4 million), Romania (USD 535.2 million) and the Russian Federation (USD 511.6 million). The main partners in import were Germany (USD 1.6 billion), Italy (USD 1.3 billion), China (USD 1 billion), the Russian Federation (USD 1 billion) and Hungary (USD 584 million).

The foreign trade was the biggest with those countries with which Serbia has signed free trade agreements. Member-states of the European Union make up 64.6% of the total trade, and the second most important partner are the CEFTA countries, with which Serbia has made a surplus of USD 1.3 billion.

Republički zavod za statistiku Beograd

export from Serbia

import to Serbia

growth of export

growth of import

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foreign trade deficit

foreign trade surplus

export import ratio

free trade agreement

CEFTA