Serbia’s foreign trade up 6.4% in eight months: exports grow faster than imports

Serbia’s foreign trade in goods in the January–August period of this year reached 52.5 billion euros, up 6.4% compared to the same period last year, the Republic Statistical Office announced today, as the newspaper Danas reports.

Exports of goods reached 23.7 billion euros, rising by 8.8%, while imports rose by 4.6% to 28.8 billion euros. The trade deficit was 5.1 billion euros and has fallen by 11.3% compared to the same period last year.

The coverage of imports by exports reached 82.3%, higher than the coverage in the same period last year, when it was 79.1%, according to official data from the Statistical Office.

Foreign trade was largest with countries with which Serbia has signed free trade agreements. European Union member states account for 58.3% of total trade.

The second most important partners are the CEFTA countries, with which Serbia had a trade surplus — mainly the result of exports of cereals and their products, beverages, road vehicles, medical and pharmaceutical products, as well as electrical machinery and equipment, Danas reports.