Foreign trade of Serbia amounts to EUR 34.46 billion in 2017 – Deficit higher by 20.2% compared to previous year

The total foreign trade of Serbia from January till December 2017 jumped by 13% compared to the previous year to EUR 34.46 billion, with exports higher by 12% and imports by 13.8%, the Statistical Office of the Republic of Serbia announced on January 31.

In the said period, goods worth EUR 15.04 billion were exported, whereas the imports amounted to EUR 19.41 billion, bringing the deficit up to EUR 4.37 billion, up 20.2% compared to 2016.

The export-import coverage ratio dropped from 78.8% in 2016 to 77.4%.

Expressed in dollars, the total merchandise trade amounted to USD 38.93 billion, up 15.3% from one year before. The exports amounted to USD 16.99 billion, a growth by 14.2%, whereas the imports were higher by 16.1% and amounted to USD 21.94 billion.

The deficit, expressed in dollars, grew by 23.4% to USD 4.95 billion.

The biggest contribution to the exports was made by the region of Vojvodina (32.9%), whereas the Belgrade region contributed to the imports the most (46%).

The biggest foreign trade partners were those countries with which Serbia has free trade agreements. EU countries' contribution to the total trade amounted to 64%.

Serbia exported the most to Italy (EUR 1.99 billion) and imported the most from Germany (EUR 2.45 billion). There is a surplus of EUR 1.8 billion in the trade with the CEFTA countries, with exports amounting to EUR 2.62 billion and imports at EUR 820.9 million.

The biggest surplus was made with the countries of the region: Bosnia and Herzegovina, Montenegro and Macedonia, and of the other countries, the surpluses made with Bulgaria, Romania, Croatia, Slovakia, Great Britain, Italy, Sweden and Moldova stand out.

When it comes to the deficit, the biggest one was made in the trade with China (due to the import of phones and laptops) and Germany.

According to the statistics for December 2017, Serbia exported goods worth EUR 1.17 billion, up 0.6% compared to December 2016, whereas the imports amounted to EUR 1.72 billion, an increase of 6%.

Republički zavod za statistiku

Cefta Secretariat Brussels

Statistical Office of the Republic of Serbia

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