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The Government of the Republic of Serbia

In the service of citizens

Foreign trade volume up 34.8 percent in first five months

Belgrade, 29 June 2004

Serbia’s foreign trade volume in the first five months of the year rose by 34.8 percent year-on-year, to around $5.31 billion. Expressed in euros, foreign trade volume amounted to around €4.33 billion, which is an increase of 19.8 percent year-on-year, the Serbian Statistical Office said in a statement.

Exports grew to around $1.23 billion, which is a 15.8 percent growth when compared to January-May 2003 period. Imports amounted to $4.08 billion, which represents a 41.8 percent increase year-on-year. Expressed in euros, exports grew to ca. €1 billion, which is a 2.7 percent increase year-on-year. Imports grew to ca. €3.3 billion, or more than 26.2 percent year-on-year.

The January-May 2004 deficit totals around $2.85 billion and is by 57.1 percent larger year-on-year. Expressed in euros, the deficit amounts to €1.63 billion, which is a 40.2 percent increase year-on-year.

The import-export ratio totals 30.2 percent, which is a 37 percent decrease year-on-year. In euros, the import-export ratio is 30.3 percent, while it totaled 37.2 percent in the January-May 2003 period.

Intermediate goods accounted for 68.4 percent of total exports, or $844.1 million, consumer goods for 24.9 percent, or $306.8 million, and equipment for 6.7 percent, or $82.4 million.

Intermediate goods made up 54.9 percent of total imports, or $2.24 billion, followed by consumer goods, 24.9 percent, or $306.8 million, and equipment, 19.4 percent, or $792.2 million.

The bulk of exports, $204 million, went to Bosnia-Herzegovina. Germany imported $158 million in Serbian goods, while Italy’s imports stood at $143 million. The majority of Serbia’s imports, $583 million, came from Russia. Germany exported $532 million worth of goods to Serbia, while Italy came in third with exports of $387 million.

According to the Standard International Trade Classification (SITC), iron and steel made the majority of imports ($122 million), followed by vegetables and fruit ($93 million), natural rubber products ($ 86 million), non-ferrous metals ($70 million) and miscellaneous manufactured articles ($67 million). Exports of these five sections make 35.5 percent of the country’s total exports.

The sections that make the greatest portion in imports are as follows: petroleum and products ($346 million), road vehicles ($316 million), industrial machinery ($201 million), natural gas ($177 million) and industry special machines ($161 million). These imports make 29.4 percent of the total imports.