Serbian export grew by 3% and import by 11.5% in January

The value of Serbia’s export in January 2019 amounted to around EUR 1.19 billion, which is 3% more than in the same month last year, whereas the imports increased by 11.5% to EUR 1.65 billion, the Statistical Office of the Republic of Serbia has said.

The total foreign trade value stood at EUR 2.84 billion, an increase of 7.8%, whereas the trade deficit of EUR 466.7 million increased by 40.9%.

The export to import coverage in January was 71.8% and was lower relative to the same period last year when it was 77.7%.

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The biggest foreign trade was with the countries with which Serbia has free trade agreements. The European Union member-states make up 61.8% of the total trade.

According to seasonally adjusted data, January exports rose by 5.3% monthly and imports by 9.6%.

Vojvodina Region accounted for the largest share in Serbia’s exports (35.5%), and the Belgrade region in imports (47.3%).

Individually by country, Serbia mostly exported to Germany in January (EUR 167.2 million), while it mostly imported from the Russian Federation (EUR 222.6 million).

The main foreign trade partners of Serbia when it comes to exports were Germany, Italy, Bosnia and Herzegovina, Russia and Romania, and when it comes to imports, the biggest partners were Russia, Germany, China, Italy and Hungary.

A surplus of EUR 103.2 million was realized in trading with the CEFTA countries.

Serbia also has a surplus in trading with Italy, Slovakia, Bulgaria, Great Britain, Croatia, Romania, Austria, Sweden, Slovenia and the Netherlands.

The biggest deficit is in the trade with Russia (due to the import of energy sources), China (due to the import of phones and laptops), the USA, Turkey, Poland (the import of motor vehicle components), Ukraine, South Korea, Hungary, Vietnam, Belgium, Switzerland, Denmark, Germany… 

(RTV, 12.03.2019)


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