Industrial production declines in February, higher export and import

Industrial production in Serbia in February fell by 1.7% relative to the same month last year, and by 2.8% compare to the 2016 average.

In January and February of this year, industrial production grew by 0.7% compared to the same period last year. According to the de-seasoned data, the industrial production in February grew by 1.7% on a month-on-month basis, while the processing industry recorded a 2.1% growth. Compared to the 2016 average, industrial production and processing industry grew by 0.7% and 4.3% respectively.

The biggest decline was recorded in the following sectors: electricity production, printing and reproduction of audio and video recordings, production of oil derivatives, repair and assembly of machines and equipment, and wood processing (furniture excluded).

In February 2017, Serbia exported 1.3 billion EUR worth of goods and services, which is a 6.9% growth in relation to the same month in 2016, while it imported 1.47 billion EUR worth of goods and services, a 8.5% hike.

According to the de-seasoned indicators, the export in February (calculated in Euros) recorded a 7.1% growth, while import grew by 7.8%.

The region of Vojvodina had the biggest share in Serbian export of 32.6%, while Belgrade had the biggest share in import – 45.9%.

Serbia exported the most to Italy, Germany, Bosnia and Herzegovina, Russia, and Romania. On the other hand, the country mostly imported from Germany, Italy, China, Russia and Hungary. Two thirds of foreign trade (65.7%) was carried out with the EU countries.

(Nova Ekonomija, Blic, 03.04.2017)

http://novaekonomija.rs/vesti-iz-zemlje/industrijska-proizvodnja-u-srbiji-u-februaru-bila-manja-za-17-odsto

http://www.blic.rs/vesti/ekonomija/povecani-uvoz-i-izvoz-suficit-sa-regionom-i-sad-deficit-sa-kinom-i-rusijom/rd3nbsg

A small favour

Since 2013, Serbian Monitor has been offering to its readers carefully selected news about the Republic of Serbia, as a daily commitment stemming from the genuine desire to offer undistorted information about a country that is too often a victim of prejudice and superficiality. From November 2016, this service is available in English and Italian with a growing number of original articles with a goal of providing a complete picture of this Balkan country's economy, politics, culture and society. Our archive is completely free of charge, available to anyone who wants to get to know the country, to study its specific aspects, or to be constantly updated about it. This project will only be able to continue with the help of readers on whom we are calling to provide a small financial support so that we can continue supplying an increasingly expanding pool of information and original contributions. If you appreciate our work, please click on the button below.

This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top
More in Export, Import, industrial production
Serbia’s GDP growth slows down in Q4 of 2016

Serbia’s GDP: 2.7% growth in 2016
Close