As a result of the blockade of the Ukrainian-Polish border, exports through these checkpoints decreased by 40%, and the state budget of Ukraine lost UAH 9.3 billion due to a shortfall in customs payments. This was stated by Danylo Hetmantsev, chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, on the air … Read more
The overall external trade in the Republic of Serbia for the period January-October 2023 amounted to: – USD 58781.3 million – which was an increase of 0.5% compared to the same period last year; – EUR 54411.1 million – which was a decrease of 1.6% compared to the same period last year. The value of … Read more
Aliyev also noted Georgia’s energy security was “fully protected” regardless of what happened between the “big players”. Photo: Georgian Government press office Azerbaijani President Ilham Aliyev on Wednesday lauded his country’s “close cooperation” with Tbilisi on both political level and collaborative projects, and highlighted the positive impact of the “mutually beneficial” partnership on Europe while … Read more
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
According to Ukrinform, this is stated in the European Commission’s report on agricultural trade as of November this year. The full text of the document is published on the website of this institution. Imports to the EU grew to a monthly rate of 5% in August 2023, reaching €12.5 billion, which is 15% less than … Read more
In 2022, most of the most important economic branches in Serbia reduced both production and export, and this trend continued this year as well. The most worrisome trend is the increasingly noticeable decline in domestic private investments, which in 2022, were reduced to around seven percent of the national GDP. “The biggest reason for this … Read more
In 10 months, the trade turnover between Georgia and Azerbaijan amounted to $1.230 billion that is $1.7 million more than in the same period of last year. Last year, in January-October trade turnover between the countries stood at $1.058 billion. In 10 months of the current year, Georgia exported the products worth $713,516 million to … 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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