As of November, Serbia’s trade with the world recorded a decline of 1.6 percent compared to the same period the previous year. However, in comparison to the previous year, Serbia managed to increase its export of goods by 4.5 percent and reduce imports by as much as 5.8 percent. This also led to a decrease in the deficit by as much as 31 percent.
According to data from the Republic Statistical Office (RZS), Serbia’s total foreign trade in goods with the world from January to November of this year amounted to 60,004.6 million euros. Goods worth 26,424.6 million euros were exported, while the import of goods amounted to 33,580 million euros. The deficit for the period from January to November was 7,155.3 million euros.
The export-to-import ratio stood at 78.7 percent, which is higher than the ratio for the same period in the previous year, which was 70.8 percent. The largest foreign trade in goods was conducted with countries with which Serbia has signed free trade agreements.
Member states of the European Union accounted for 59.7 percent of the total trade. The second most important partners are the CEFTA countries, with which Serbia has a surplus in trade, mainly resulting from the export of electricity, cereals and cereal products, oil and oil derivatives, beverages, and road vehicles.
The main foreign trade partners concerning exports were Germany, Bosnia and Herzegovina, Italy, Hungary, and Romania. Serbia imported mostly from Germany, China, Italy, Turkey, and Russia.
