Serbia’s foreign trade deficit in 2019 SPIKES by 12.5 percent

The total foreign trade of Serbia in 2019, expressed in euros, increased by 8.4 percent, while the growth of export was 7.7 percent and of import 8.9 percent, according to the Statistical Office of the Republic of Serbia. Last year’s trade amounted to EUR 41.4 billion, with export reaching EUR 17.5 billion and import about EUR 23.9 billion. The deficit amounted to EUR 6.3 billion, which is an increase of 12.5 percent compared to 2018. The coverage of import by export in 2019 was 73.4 percent, which is less than the coverage in the previous year when it was 74.3 percent. Foreign trade was the highest with the countries with which Serbia has signed free trade agreements. European Union member states account for 61.8 percent of the total trade. Last year, Serbia’s main foreign trade partners were Germany, Italy, Bosnia and Herzegovina, Romania and Russia, and its main partners in import were Germany, Russia, China, Italy and Hungary. The second most important partner of Serbia is the CEFTA countries, which generated trade surplus of US$2.3 billion mainly as a result of the export of agricultural products (grains and their products), petroleum and petroleum products, electric machinery and appliances, road vehicles and drinks.

Izvor: N1, FoNet

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