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The Government of the Republic of Serbia

In the service of citizens

Significant increase in trade cooperation with UK

Belgrade, 11 May 2023

Minister of Domestic and Foreign Trade Tomislav Momirovic said after a meeting with United Kingdom Trade Commissioner for Europe Chris Barton that the value of total trade with the United Kingdom in 2022 was €788.3 million, which is an increase of approximately 27 percent compared to 2021.

Momirovic pointed out that Serbia has a surplus of €125 million in trade with the United Kingdom, adding that Serbia's exports amounted to €456 million and last year saw a 28 percent increase in exports compared to 2021.

We see that in the last two years we have had a significant increase in trade cooperation between our two countries, and I used today's meeting as an opportunity to invite British companies to continue investing in Serbia, said Momirovic.

The minister noted that in the trade in services, the United Kingdom, along with the USA and Germany, belongs to the most important partners with whom Serbia records a positive balance year after year.

The total turnover of services in 2022 amounted to €1.3 billion, which is an increase of 21 percent compared to 2021. Revenues from the export of services in trade with the United Kingdom amounts to €883 million, where Serbia records a surplus of €422 million. This is the second year in a row that we have achieved a turnover of over €1 billion, the Minister said.

The meeting at the Serbian government was also attended by UK Ambassador to Serbia Sian MacLeod.