Keepin touch

Whether you have a question, comment, suggestion or any problem in the purview of the government, send us your message and we will try to respond as soon as possible. If your problem is not in our purview, we will forward your message to the relevant institution.

The Government of the Republic of Serbia

In the service of citizens

January foreign trade increase

Belgrade, 28 February 2006

The Serbian Statistical Office stated today that the overall foreign trade of the Republic of Serbia in January 2006 totaled $948.8 million, which is 30.6% larger compared to January 2005. Expressed in euros, foreign trade reached €786.2 million, up 42.1% against January 2005.

Exports stood at $326.2 million, up 18.2% from a year earlier, while imports totaled $622.6 million, a 38.1% increase in relation to the same period in 2005.

Expressed in euros, exports jumped 29.1 percent to €270.3 million, while imports went up 50% to €515.9 million in relation to the same period previous year.

Increased imports in January were a result of the import of electricity, which was five times higher compared to January 2005 ($7.3 million), due to problems in gas supply from Russia, as well as copper and iron ores import ($16 million) used in production of copper, iron and other metals, since at this moment the prices of these ores are favourable.

Increased exports were driven by the initial effects of privatisation and the restructuring of companies, by signed and ratified free trade agreements with signatory countries of the Stability Pact, and by food and ready-made textile goods trade surplus, thanks to the agreement signed with the EU and a preferential status of Serbian goods, as well as an increase in world prices of basic metals and general economic activity.

The trade deficit in January stood at $296.4 million, up by 69.3% against January 2005. Expressed in euros, the deficit stood at €245.6 million, up by 82.6%.

Exports-to-imports ratio was 52.4%, showing a fall against the same period last year, when it stood at 61.2%. Expressed in euros, the ratio was 52.4%, down 60.9%.

The most exported items in January 2006 were intermediate goods accounting for 71.8% ($234.3 million), followed by consumer goods, which made up 24.1% ($78.7 million) and equipment, making up 4% ($13.1 million) of total exports.

Imports were dominated by intermediate goods accounting for 60.1% ($374 million), followed by consumer goods, 24.1% ($150.3 million) and equipment, 15.8% ($98.1 million dollars).

Major importers of Serbian goods were Italy ($63.3 million), Germany ($39.2 million), and Bosnia-Herzegovina ($30.7 million). The largest exporters to Serbia were Russia ($62.4 million), Germany ($56 million) and Italy ($49.5 million).

The greatest foreign trade was recorded in commerce with the EU, which accounted for more than half of total trade. Foreign trade surpluses realised in commerce with Bosnia-Herzegovina and Italy were $15 million and $14 million respectively.

Thanks to the free trade agreement, as well as the competitiveness of Serbian products, a surplus has also been achieved in commerce with Macedonia, but the largest deficit remained in commerce with Russia, due to energy imports, mainly oil and natural gas.