Stats are clear: SIGNIFICANT decrease in both exports and imports

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Serbia’s total foreign trade for the period January-May 2020 was 15 billion and 348 million euros, which is a 8.1 percent decrease when compared to the same period last year, the Statistical Office of the Republic of Serbia (SORS) announced. Exports of goods in the observed period amounted to six billion and 421 million euros, which is a decrease of 9.5 percent when compared to the same period last year. Imports of goods had a value of eight billion and 927 million euros, which is a decrease of 7.1 percent when compared to the same period last year. The foreign trade deficit is around two billion and 507 million euros, which is a decrease of 0.5 percent when compared to the same period last year. The import-export coverage is 72 percent and is lower than the coverage in the same period last year, when it was 73.8 percent. Foreign trade was biggest with countries with which Serbia has signed free trade agreements. According to a statement made by SORS, the member states of the European Union make up 60.1 percent of the total exchange.

Source: Danas, FoNet

Photo: Pixabay