Serbia’s hi-tech exports fifteen times bigger than in 2005

In March 2021, industrial production in Serbia increased by 6.1 percent year-on-year, the monthly Macroeconomic Analysis and Trends (MAT) latest issue reported.

The processing industry recorded the highest increase (6.5 percent), electricity by 5 percent, and mining by 5.7 percent.

„Out of 24 segments in the processing industry, 20 of them had a growing trend. The total production is not only growing, but the growth is accelerating,” the MAT report said.

In March, the value of exports reached some 1.88 billion euro, 35 percent up compared to the same month last year.

The value of imports increased by 11.6 percent and amounted to 2.37 billion euro.

MAT said the prices of services went down in March, primarily thanks to reduced tourist numbers by about 16 percent, while the cost of the average consumer basket increased.

In the article on technological restructuring, the MAT editor Ivan Nikolic said the research showed the export of goods had been more technologically advanced in recent years. „From 2005 to 2020, Serbia increased the value of merchandise exports by 4.7 times, Poland 3.3 times, and Bulgaria by 2.8 times,“ Nikolic said.

The analysis also showed that Serbia’s export of products of high technological complexity has been growing for the last 15 years, and its value had increased almost 15 times. Nikolic said Serbia exported about 15 percent more products of high and medium technological complexity than Croatia, while 15 years ago, their exports were five times higher.

According to Nikolic, nowadays, the export of such products makes up a third of the total export from Serbia, and 15 years ago, it was 13.5 percent.

(RTV, 10.05.2021)





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