Total revenue of the 100 best-earning companies from the region was 100 billion euro in 2018, Serbia’s Chambers of Commerce (PKS) said, while Serbia’s best firms generated 34 billion euro.
PKS said that the best companies in Slovenia reported 29 billion euro in revenues, the Croatian companies generated 24 billion, Bosnia and Herzegovina’s 11 billion and Montenegro’s 4 billion euros.
According to Cube Team, an analytic partner to the “100 Largest in Serbia” Project, the top ten companies in Serbia and the state-owned firms in the region make up to 60 per cent of revenue, such Electric Power Industry of Serbia (EPS), Petroleum Industry of Serbia (NIS), Telekom Srbija and Serbian Post Offices.
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The best enterprises in Serbia employ more than 340,000 people with most of them having headquarters in Belgrade – 411, while 72 are based in Novi Sad, 29 in Niš and 20 in Subotica and Zrenjanin respectively.
Out of more than 439,000 companies active in Serbia, 1,168 have a strong influence on market development and are mainly oriented towards developing new products. The main activity of 398 companies is production, cultivation and breeding, 180 companies are engaged in the provision of services, 30 in computer programming, 293 in wholesale and retail trade, and 267 in other activities.
In addition, a positive trend has been observed in the last three years with regard to the formation of new companies and fewer companies closing down. Last year, 49,189 companies were established, an increase of 8.26% over 2015, when 45,434 were founded.
Four years ago, 9,939 companies closed, while, in 2018, that number fell by 74% to 2,491.
When it comes to revenue, those companies that do best in Serbia are the exporters of cars, including passenger cars, vans and racing cars, then traders of insulating sheaths, steel cables and optical cables, as well as those who export tires.
In total, 2,014 companies earn at least 100,000 euro from export annually, and 6,561 of them earn over 50,000 euro. Of these, 4,042 companies make more than 30% of their profits from exports.
According to the Cube Team data, solid growth of exports is expected thanks to higher competitiveness of many exporters, the further inclusion in global capital flows, the increase in export capacity and higher agricultural exports.