Report of Statistical Office of Serbia – Exports of Serbia grow by 8.5% in November, imports increase by 7%

The exports of Serbia in November 2019 “jumped” by 8.5% to EUR 1.57 billion compared to the same month last year, whereas the imports increased by 7% to EUR 2.8 billion, according to the Statistical Office of the Republic of Serbia.

According to deseasoned indicators, the exports in November, compared to October, grew by 1.6%, whereas the imports grew by 9.7%.

The overall external trade in the Republic of Serbia for the period January - November 2019 amounted to EUR 37.77 billion - which was an increase of 7.6% compared to the same period 2018.

The value of exports amounted to EUR 16.18 billion, which was the increase of 7.4%, compared to the same period last year. The value of imports amounted to EUR 21.58 billion, which was 7.7% increase when compared to the same period last year. The deficit expressed in Euros amounted to 5.4 billion, which was an increase of 8.6% compared to the same period last year.

The export - import ratio equaled 75% and was lower if compared to the same period last year when it was 75.2%.

Expressed in dollars, the overall external trade in the Republic of Serbia for the period January - November 2019 amounted to USD 42.32 billion - which was an increase of 1.7% compared to the same period 2018.

Expressed in dollars, the value of exports amounted to USD 18.13 billion, which was 1.6% increase when compared to the same period last year, while the value of imports amounted to USD 24.18 billion, which was 1.9% increase relative to the same period last year. The deficit amounted to USD 6.1 billion, which was an increase of 2.8% in relation to the same period last year.

The Vojvodina Region contributed the most to the exports (34.8%), whereas the Belgrade Region had the biggest share in the imports (47.5%).

The external trade in the reference period noted the highest level with the counties with which Serbia has signed agreements on free trade. European Union member countries account for 62.3% of total external trade.

Individually, the biggest foreign trade partner was Germany, with Serbian exports amounting to EUR 2.05 billion and imports amounting to EUR 2.79 billion in the January - November 2019 period.

The second major partner refers to the CEFTA countries, since the gained surplus in external trade amounted to EUR 1.85 billion. The exports in the referent period amounted to EUR 2.72 billion, while the imports were EUR 866 million. The export– import ratio equaled 314.6%.

Republički zavod za statistiku Beograd

Statistical Office of the Republic of Serbia

exports of Serbia

imports of Serbia

foreign trade

free trade

CEFTA