Serbia’s deficit in foreign trade increased by 30 percent in 2018

Serbia’s foreign trade in 2018 was around EUR38.2 billion and it was higher by 10.9 percent than in 2017, while deficit increased by 30 percent to EUR5.6 billion, the Statistical Office of the Republic of Serbia has announced today.

Overall export from Serbia was EUR16.3 billion during last year and it was higher by 8.1 percent than the year before, while import increased by 13 percent and it was EUR21.9 billion.

Import-export coverage ratio was 74.3 percent and it is lower than import-export coverage ratio in the same period last year, when it was 77.5 percent.

According to data of the Statistical Office of the Republic of Serbia, our country realized 63.2 percent of total foreign trade exchange with member countries of the EU.

The second most important partner were CEFTA countries, with which Serbia realized surplus in trade of US$2.2 billion, as a result of mainly export of agricultural products, oil and oil derivatives, iron and steel, and metal products.

When observed individually by countries, the largest surplus in trade was realized with neighbouring countries: Bosnia and Herzegovina (gas oils and corn are exported the most and coke and semi-coke from stone coal and iron and steel wires are imported the most), Montenegro (drugs and lead ore and concentrates, while aluminium, cheeses and wines from fresh grapes are imported the most) and Macedonia (export of hot-rolled bands in coils and electric energy, while retail drugs and rolled products coated with plastic are imported the most).

Serbia also had a surplus in trade with Romania, Bulgaria, Slovakia, Croatia, Great Britain, Sweden and Slovenia. The largest deficit was recorded in trade with China, primarily due to import of phones for cellular networks and laptops.

Izvor: Beta

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