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

39% growth in Serbia’s foreign trade from January to October

Belgrade, 30 November 2007

The Serbian Statistics Office stated today that the total worth of Serbia’s foreign trade from January to October this year was $21.728.1 billion which shows a growth of 39% against the same period in 2006. Expressed in euros this figure is €16.0597 billion or 28.4% more than the same period in 2006.

Goods worth $7.152.3 were exported, which is a growth of 39.1% against the same period in 2006. Goods worth $4.575.8 billion were imported, which is 39% more against the same period in 2006.

Exports, expressed in euros, imports were worth €5.287.8 billion, which is an increase of 28.6% against the same period in 2006. Imports were worth €10.7771.9 billion, which is an increase of 28.3% against the same period in 2006.

Trade deficit stood at $7.423.4 billion and is larger by 38.8% against the same period in 2006. Expressed in euros the deficit stands at €5.484.1 billion, which is an increase of 27.9% against the same period in 2006.

The export to import ratio stood at 49.1%, showing an insignificant increase compared to the same period in 2006, when it was 49%.

Increase of imports in the pervious period was a result of importing energy, which in the previous period was 17% of total imports, and copper and iron ores import.

Increase in exports resulted from privatisation and restructuring of companies accomplished until now, as well as signed and ratified agreements on free trade with countries signatory to the Stability Pact, which are now unified under the single Central European Free Trade Agreement, export of surplus agricultural produce, for fruits and vegetables, was worth $338 million, for food grains and products it was worth $249 million, the signed agreement with the EU according to which Serbian textile products are given preferential status on the EU market.

Regarding the structure of exports, the most notable were: reproduction products 66.7% ($4.773.2 billion), then consumer goods 26.6% ($1.905.1 billion) and equipment 6.6% ($473.9 million).

Regarding the structure of imports the most notable were: reproduction products 61.1% ($8.904.2 billion), then consumer goods 21.5% ($3.134 billion) and equipment 17.4% ($2.537.5 billion).

Major foreign trade partners in exports in the reference period were: Italy ($894.6 million), Germany ($771.9 million) and Bosnia-Herzegovina ($857.3 million).

Major foreign trade partners in imports in the reference period were: the Russian Federation ($2.026.9 billion), Germany ($1.709.3 billion) and Italy ($1.409.4 billion).

Largest trade was with EU countries, accounting for more than half of total foreign trade.

Surplus was realised in trade with former Yugoslavian republics – Bosnia-Herzegovina, Montenegro, Macedonia.

The largest deficit was in trade with Russia due to import of energy, above all gas and oil and inadequate utilisation of the free trade agreement by Serbian importers.

According to the divisions of the Standard International Trade Classification (SITC) the following items had the greatest export share: iron and steel ($953 million), coloured metals ($588 million), vegetables and fruits ($388 million), clothes ($361 million), metal products ($345 million). These five sections accounted for 36.8% of overall exports.

The first five divisions with the greatest imports share were the following: oil and oil derivatives ($1.536 billion), road vehicles ($1.209 billion), gas, natural and industrial ($108 million), industrial machines for general use ($712 million) and iron and steel ($788 million), electric machines and equipment ($624 million) and these accounted for 31.5% of overall imports.

The list of the first 100 products in export and imports for October was significantly different from the previous month.

Among the first 100 products in exports, at the top were pneumatic tires for cars (more than $33 million), then sheet metal ($30 million), plastic floor coverings and wallpaper (nearly $25 million).

Among the first 100 products in imports, at the top was oil ($258 million), gas ($71 million) and diesel ($67 million).