The value of Serbia’s external trade last year stood at EUR 34.4 billion, which is an increase of 12.9 percent compared to 2016, the Statistical Office of the Republic of Serbia announced today.
The total value of exports amounted to EUR 15 billion, an increase of 12.1 percent compared to the same period of the previous year. Imports of goods amounted to EUR 19.4 billion, an increase of 13.6 percent.
The trading deficit stood at almost EUR 4.3 billion, a 19.5 percent hike compared to the same period of the previous year.
The region of Vojvodina had the biggest share in Serbia’s exports (33.0%); followed by the Belgrade region (26.4%), Sumadija and Western Serbia (24.6%), South and East Serbia (16.0%), and about 0.1% of the exports are not classified by territories.
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The Belgrade region had the biggest share in Serbia’s import (45.9%); followed by Vojvodina (27.5%), Sumadija and Western Serbia (16.4%), South and East Serbia (9.5%), and around 0.7% of imports were not classified by territories. There is no data available for the Region of Kosovo and Metohija.
The EU member states account for 64% of the total external trade, with Serbia mostly exported to Italy, Germany, Bosnia and Herzegovina, Russia and Romania. The imports mostly came from Germany, Italy, China, Russia and Hungary.
Serbia mostly exported electric appliances and machines, mostly road vehicles, fruits and vegetables, non-ferrous metals and rubber products last year, and imported road vehicles, oil, electric machines, industrial machines and medical and pharmaceutical products.
The CEFTA countries are our second most important partners. Serbia recorded a $ 2 billion surplus in trading with these countries, which is mainly due to the export of agricultural products (cereals and their products and various types of beverages), iron and steel, metal products, and road vehicles. When it comes to import, Serbia mostly imported iron and steel, coal, coke and briquettes, vegetables and fruits, cork and wood from the CEFTA countries. In the observed period, Serbia exported $3 billion worth of goods to the CEFTA countries, and imported $930 million.
Observed individually by country, the largest surplus in trade was achieved with the countries from the region: Bosnia and Herzegovina, Montenegro and Macedonia. There is also a surplus in trading with Bulgaria, Romania, Croatia, Slovakia, Great Britain, Italy, Sweden and Moldova. The biggest deficit was generated in trading with China (due to imports of cell phones and laptops) and Germany. Following is the deficit in trading with the Russian Federation (due to the import of energy products, primarily oil and gas), Turkey, Poland (import of motor vehicle parts), Iraq, Hungary, Belgium, Austria, the Czech Republic, India, Greece, and Ukraine (import of iron ore and concentrates).
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