Demostat: EU companies the biggest investors in Serbia

According to the data collated by the National Bank of Serbia (NBS) and State Statistical Office (RZS), the European Union (EU) was Serbia’s largest trade partner from 2010 to 2021, and over 63 percent of the total foreign direct investments in Serbia came from EU-based companies, said the Demostat Research and Publishing Center.

The Center added that data from the European Commission, the International Monetary Fund (IMF) and the RZS on trade with the EU show that Serbia’s total trade from 2010 to 2021 revolved around the EU, as the backbone of Serbia’s external trade.

Serbia’s total trade with the EU in 2021 amounted to 30.28 billion euros, which is 23 percent more than in 2020.

The data also show that Serbia’s exports to the EU in 2021 broke a record when it comes to the total value of exports to the Union.

In 2021, when the Serbian economy was facing the consequences of the first year of the coronavirus pandemic, it exported a total of 14 billion euros worth of goods and services, which surpassed the previous record in exports to the EU from 2019 – 11.4 billion euros.

There was also a significant increase in the export-to-import ratio which in 2021, stood at 85 percent.

The EU Members States that stand out as Serbia’s particularly important trade partners are Germany, Italy, Hungary and Romania, to which Serbia exports most of its goods, while it imports most of goods from Germany and Italy.

After the EU, as Serbia’s biggest external trade partner, in second place, but with a much lower value of trade, are the CEFTA countries (2 billion worth of trade) and the Russian Federation (1.6 billion euros). China and the USA are in fourth and fifth place respectively, followed by Turkey and Switzerland.

(Danas, 07.02.2023)

This post is also available in: Italiano

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