Tatyana Gracheva

Both production and export of the most important economic branches in Serbia were reduced in 2022, and this trend continued this year as well.
The increasingly noticeable decline in domestic private investments, which were reduced to around seven percent of the national GDP in 2022, is the most worrisome trend.
According to the Biznis Top 2022/23 edition, the state policy, which is constantly (directed) at foreign investors, causing long-term damage to the most competitive part of the Serbian economy, is the biggest reason for this.
An increase by slightly less than a fifth annually, to 17,285.6 billion dinars, was shown by the domestic economy’s business income in 2022.
The total profit reached 864.2 billion dinars (increase by 25%). The Biznis Top edition published by the business monthly Biznis i Finansije (Business and Finance) reports that the total loss amounted to 3,906.5 billion dinars at the end of 2022 (4 percent up).
A list of the 150 largest companies in Serbia in 2022, according to generated profit and income, based on data from the Agency for Business Registers (APR), is published by Biznis Top.
5,172 billion dinars of revenue were generated by the leading one hundred companies, with only five companies that generated more than 20 percent of this amount.
A slight decline (0.3-0.4 percent) of total investments, an increase by more than 20 percent of foreign direct investments and a stagnation of public investments in real terms were recorded in 2022.
The analysis of the National Convention on the European Union demonstrated a fall of domestic private investments to around 7 percent of the national GDP.
Although companies are blamed by the government for fueling inflation with excessive price increases, companies in Serbia submitted an analysis of financial reports that shows that they can attribute only 1/10 of inflation growth to business income growing faster than expenses.
The National Convention on the EU reports that the retail sector, which managed to transfer the entire burden of growing inflation onto suppliers and shoppers, is an exception to this rule. That might indicate potential violations of the Law on the Protection of Competition in that sector.
The Petroleum Industry of Serbia (NIS) generated the highest earnings and operating income last year and became the absolute ‘winner’. The profit of NIS was increased by more than four times, to 93.5 billion dinars, and revenues by over 77 percent, to almost 500 billion dinars.
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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Both production and export of the most important economic branches in Serbia were reduced in 2022, and this trend continued this year as well. The increasingly noticeable decline in domestic private investments, which were reduced to around seven percent of the national GDP in 2022, is the most worrisome trend. According to the Biznis Top … Read more

As the Serbian Finance Ministry said on Wednesday, three Chinese-owned companies are the country’s biggest exporters.
Zijin Mining (957.1 million Euro worth of exports), Zijin Copper (633.5 million Euro) and the HBIS Group which owns the Smederevo steel plant (458.9 million Euro) were named as the biggest exporters.
According to the Finance Ministry, goods and services worth 6 billion Euro were exported by the 15 biggest export companies in the first 10 months of this year.
ZF Pancevo (415.8 million Euro), Leoni Prokuplje (415.7 million), Tigar Tires Pirot (397.1 million), Bosch Belgrade (380.6) Henkel Belgrade (353.2) Jura Raca (331.5), the Serbian Oil Industry NIS (329.1), Hemofarm Vrsac (289.9), SCM Power Belgrade (282,9), Phillip Morris Nis (242,5), Mint Automotive Loznica (237.8) and Gorenje Valjevo (237.1 million Euro) were included in the list.
NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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Azerbaijan ($713.5mln), Armenia ($657.5 million) and Kazakhstan ($579.9 million) were Georgia’s top trading partners by exports. Turkey ($2.10 billion), US ($1.59 billion) and Russia ($1.48 billion) topped imports.
As the National Statistics office of Georgia said on Monday, the top trading partners of Georgia in its total external trade turnover between January and October were Turkey ($2.46 billion), Russia ($2.04 billion) and the United States ($1.66 billion).
Azerbaijan ($713.5mln), Armenia ($657.5 million) and Kazakhstan ($579.9 million), were Georgia’s top trading partners by exports. Turkey ($2.10 billion), US ($1.59 billion) and Russia ($1.48 billion) topped imports.
Motor vehicles ($1.76 billion, 34.5 percent of total exports), copper ores and concentrates ($450.9 million, 8.8 percent) and wine of fresh grapes ($217.3 million, 4.3 percent) were the top export items. Motor vehicles ($2.58 billion, 20.4 percent of the total imports), petroleum and petroleum oils ($928.6 million, 7.3 percent) and medical drugs ($445.2 million, 3.5 percent) were three top import commodities.
In general, the amount of $17.78 billion was attained by Georgian external trade turnover in January-October, showing a 16.2 percent increase year-on-year.
An increase by 12.5 percent was reached by the value of exports that totally amounted to $5.10 billion. The growth of imports attained 17.8 percent, and its total amount reached $12.68 billion in the reporting period.
The share of trade turnover hit 42.6 percent, and trade deficit, a measure of the negative balance of trade in which imports exceed exports, reached $7.58 billion.
NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Georgia and Eurasia, supporting many clients with their import/export shipments.

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The opening ceremony of China International Import Expo, an import industry fair looking to facilitate strengthening of economic cooperation and trade between participating states, was featured in by a Georgian delegation led by the country’s Agriculture Minister Otar Shamugia on Sunday.
According to the Georgian Ministry, the relations between the two countries and the strategic partnership announced during Prime Minister Irakli Garibashvili’s visit to China earlier this year were risen “to an even higher level”.
As Shamugia said, the importance the efforts of the governments of both countries to deepen cooperation was great and the role [and the] activity and initiatives of private companies was significant in this process. NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Eurasia, supporting many clients with their import/export shipments.
According to Ling Ji, the Chinese Vice Minister and Deputy International Trade Representative, hosted at the Georgian pavilion for the fair by Shamugia, the strategic partnership between the states was “confirmed” by the Georgian delegation’s “high-level” visit to the fair and a basis for “closer cooperation” was provided.
Readiness of China to promote deepening of trade relations, especially through exports of Georgian wine to the Chinese market, was expressed by Ji.
Up to 40 Georgian companies, including producers of Georgian wines, non-alcoholic beverages, agriculture products, leather goods, accessories and children’s clothes, are being represented at the fair, organized by Enterprise Georgia, the state agency promoting entrepreneurship, investment and exports.
Visitors were introduced to tourism, investment and transport potential of Georgia by the Georgian Innovation and Technology Agency, the National Tourism Administration, National Wine Agency, the Mountain Trails Agency and Georgian Railway featured in the Georgian pavilion at the fair.
Georgian deputy economy ministers Genadi Arveladze and Irakli Nadareishvili, Enterprise Georgia Director Mikheil Khidureli, Georgia’s Ambassador to China Archil Kalandia and Parliamentary representatives Gela Samkharadze and Zaal Dugladze were also present at the event.
Over 150 countries sent their governments and business delegations to participate in the fair set to run until Friday at the National Exhibition and Convention Centre in Shanghai.

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