Serbia's foreign trade deficit in January down 30.4%

Serbia's foreign trade deficit this January amounted to USD 357.7 million, down 30.4 percent from one year before, the Republic Statistical Office announced today.

Serbia's overall trade with foreign countries totaled USD 2.35 billion, up 3.8 percent from January 2013. The country exported USD 997.8 million (up 13.8%) and imported USD 1.35 billion (down 2.5%) worth of goods in the first month of this year.

The import to export ratio grew from 63% in January 2013 to 73.6% in January 2014.

The list of the export destinations of Serbia is topped by Italy (USD 167.9 million) which is followed by Germany (USD 152 million), Bosnia-Herzegovina (USD 75.2 million), Russian Federation (USD 61.6 million), and Montenegro (USD 39.5 million).

Serbia's top import destinations were Russia (USD 200.6 million), Germany (USD 152.4 million), Italy (USD 150.9 million), China (USD 111.8 million), and Hungary (USD 60.3 million).

The largest trade was registered with the countries that signed free trade agreements with Serbia. EU countries account for 63.1% of Serbia's overall trade with the rest of the world.