The country with which Serbia had the largest trade surplus last year, as in previous years, was Bosnia and Herzegovina. This actually means that Serbia exported more goods to Bosnia than it imported from that country, worth €743 million. However, Bosnia and Herzegovina is not the only country with which Serbia has a trade surplus.
According to the State Statistical Office, Serbia has recorded the largest surplus in trading with countries in the region, but Sweden, Slovakia, the United Kingdom and Slovenia also join this group of countries. It is interesting to note that Serbia also trades with “distant” countries such as Saudi Arabia and Australia.
Serbia mostly exported diesel and fuel to Bosnia and imported carbon coke, iron and steel wire.
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According to the Statistical Office, Montenegro is the second-largest country after Bosnia and Herzegovina in terms of Serbia recording a trade surplus (€717 million). Serbia exports mainly medicines for retail sale, lead and concentrate minerals to Montenegro, and imports raw aluminium and wine.
North Macedonia is the third country on the list, with Serbia mainly exporting electrical conductors and hot-rolled products to North Macedonia and importing medicines, welded iron, steel pipes and tubes are imported.
There are also countries with which Serbia has a trade deficit, i.e. it imports more from than exports to a particular country.
Serbia has had the biggest trade deficit with China, then with Russia, Germany, Turkey and Iraq. However, there has also been a deficit in trade with Hungary, Armenia, India and Vietnam.
Serbia has a bigger external trade with the countries with which Serbia has signed free trade agreements. The largest share of Serbian exports is attributed to Vojvodina (35%), while the Belgrade region has recorded the biggest share in the country’s imports (48%).
The value of Serbia’s total external trade in goods amounted to 41.40 billion euro from January to the end of December, an increase of 8.4% compared to the same period last year. Exports increased by 7.7% and imports by 8.9%, according to data from the State Statistical OfficeBli.
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