Source: Beta | Friday, 02.12.2016.| 09:14
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Serbia’s export increases by around 10% from January to October 2016 – Foreign trade deficit reduced to USD 3.53 billion

(Photo: Ivana Vuksa)
The total foreign trade of Serbia in the first ten months of 2016 amounted to USD 28.25 billion (EUR 25.31 billion), a growth of 7.2% compared to the corresponding period of 2015, reported the Statistical Office of the Republic of Serbia.

The export of goods amounted to USD 12.36 billion, which is a growth of 10.1%, and the import amounted to USD 15.89 billion and is 5.1% higher than last year. Expressed in euros, the export amounted to EUR 11.07 billion, whereas the import equaled EUR 14.24 billion.

The foreign trade deficit amounted to USD 3.53 billion and is lower by 9.3%, and, expressed in euros, it was EUR 3.17 billion, a decrease of 9.1%, compared to the corresponding period of 2015. The export-import ratio was 77.8%, compared to 74.3% from 2015.

Serbia’s main foreign trade partners in export were Italy (USD 1.8 billion), Germany (USD 1.6 billion), Bosnia and Herzegovina (USD 1 billion), Romania (USD 677 million) and Russia (USD 650 million).

The main foreign trade partners in import were Germany (USD 2 billion), Italy (USD 1.7 billion), China (USD 1.3 billion), Russia (USD 1.2 billion) and Hungary (USD 724 million).

The biggest foreign trade was with those countries with which Serbia has signed agreements on free trade. Members of the European Union make up 64.7% of Serbia’s total trade.

Serbia had a surplus of around USD 1.6 billion in its trade with the CEFTA countries, mostly as a result of exporting agricultural products, metal products and various finished products.

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