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The Government of the Republic of Serbia

In the service of citizens

Foreign trade increases in January-June period

Belgrade, 31 July 2007

The Serbian Statistical Office stated today that Serbia's overall foreign trade in the period from January to June 2007 totalled $12,115.2 million, up 39.2% compared to the same period in 2006. Expressed in euros, foreign trade reached €9,113 million, which is an increase of 28.9%.

Exports stood at $3,968.8 million, up 42.5% compared to the same period last year, while imports totalled $8,146.4 million, a 37.7% increase in relation to the same period in 2006.

Expressed in euros, exports jumped 32% to €2,985.1 million, while imports went up 27.5% to €6,127.9 million in relation to the same period previous year.

The trade deficit for the period January-June 2007 stood at $4,177.7 million, up by 33.4% against the same period last year. Expressed in euros, the deficit stood at €3,142.8 million, up by 23.5%.

The exports-to-imports ratio was 48.7%, showing a growth against the same period last year, when it stood at 47%.

Increased imports in the previous period were a result of the import of energy sources, which made up for 17.8% of total imports.

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.

The most exported items in the period January-June 2007 were intermediate goods accounting for 67.4% ($2,676.2 million), followed by consumer goods, which made up 26% ($1, 031.9 million) and equipment, making up 6.6% ($260.7 million) of total exports.

Imports were dominated by intermediate goods accounting for 61.8% ($5,034.1 million), followed by consumer goods, 21.3% ($1,731.4 million) and equipment, 16.9% ($1,381 million).

Major importers of goods from Serbia were Italy ($537.1 million), Bosnia-Herzegovina ($471.1 million) and Germany ($397.1 million). The largest exporters to Serbia were Russia ($1,182.6 million), Germany ($758.8 million) and Italy ($666.9 million).

The greatest foreign trade was recorded in commerce with the EU, which accounted for more than half of total trade. The foreign trade surplus was realised in commerce with Bosnia-Herzegovina, Montenegro, Macedonia and Slovenia, while the largest deficit appears in trade with Russia due to import of energy sources, first of all oil and gas.