Foreign trade of Serbia in first five months of 2017 amounts to EUR 13.98 billion – Exports grow by 13.4%

Source: Tanjug Tuesday, 04.07.2017. 10:30
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The total foreign trade of Serbia in the first five months of 2017 grew by 14% to EUR 13.98 billion, with a growth in exports of 13.4% to EUR 6.09 billion year-over-year, the Statistical Office of the Republic of Serbia reported.

In the same period, goods worth EUR 7.88 billion were imported, an increase of 14.4% compared to the corresponding period of 2016. The deficit amounts to EUR 1.79 billion and is bigger by 18% than that of the first five months of last year.

The export-import coverage ratio is 77.3%, a drop compared to last year's 78%.

Expressed in dollars, the total foreign merchandise trade in the said period amounted to USD 15.02 billion, a growth of 9.6% compared to the January-May 2016 period. Goods worth USD 6.54 billion were exported, 9% more than in the same period of 2016, and the imports equaled USD 8.47 billion, an increase of 10%. The deficit amounts to USD 1.92 billion and is bigger by 13.5% compared to the corresponding period of 2016.

The Vojvodina region (32.9%) had the biggest share in the export, and the Belgrade region was dominant in imports, with a 46% share.

Serbia exported the most to Italy (USD 975.8 million), Germany (826.5), Bosnia and Herzegovina (500.7), the Russian Federation (368.8) and Romania (330.5). As for the imports, the country's main partners were Germany (USD 1.062 billion), Italy (USD 867.4 million), the Russian Federation (715.3), China (674.6) and Hungary (394.9). The EU members make up 64.9% of the total trade.


The second most important partner are the CEFTA countries, with a surplus of USD 760.5 million in Serbia's trade with them. The country exported products worth USD 1.08 billion to the CEFTA countries, whereas the imports equaled USD 327.1 million. The export-import coverage ratio is 332.5%.

There was also a surplus in trade with the countries of former Yugoslavia: Bosnia and Herzegovina, Montenegro and Macedonia. A surplus was also made in trading with Italy, Bulgaria, Romania, Saudi Arabia, Slovakia, Croatia and Great Britain.

The biggest deficit was incurred in trading with China, due to the import of phones and laptops, and with the Russian Federation, due to the import of energy sources, above all oil and gas.
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