External Trade of Serbia Between January and May Lower by 8.1%

The overall external trade in the Republic of Serbia for the period January-May 2020 amounted to EUR 15.34 billion, which was a decrease of 8.1% compared to the same period in 2019, the Statistical Office of the Republic of Serbia announced.

The value of exports amounted to EUR 6.42 billion, which was a decrease of 9.5%, compared to the same period last year. The value of imports amounted to EUR 8.92 billion, which was a 7.1% decrease when compared to the same period last year.

The deficit amounted to EUR 2.5 billion, which was a decrease of 0.5% compared to the same period last year.

The export-import ratio equaled 72% and was lower if compared to the same period last year when it was 73.8%.

European Union member countries account for 60.1% of total external trade, and the biggest individual foreign trade partner was Germany, to which goods worth EUR 819.3 million were exported and from which EUR 1.14 billion worth of goods was imported.

Serbia's second major partner refers to the CEFTA countries. Exports amounted to EUR 1.03 billion and imports to EUR 317.1 million.