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According to 57.4 percent of companies in the trade sector, the business climate in the first quarter of 2025 has worsened compared to the previous quarter. 37.3 percent assess it as unchanged.

As he Serbian Chamber of Commerce survey on the business activity of the domestic economy shows, 18.1 percent of companies expect business climate to worsen in the second quarter. Nearly 47 percent expect it to remain unchanged.

Also, turnover of 54.2 percent of trade companies dropped in in the first quarter of 2025 compared to the previous quarter, while business turnover of 29.3 percent was unchanged. Turnover of 16.5 percent of respondents even increased compared to the previous quarter. 51.3 percent have high expectations concerning the level of turnover in the second quarter.

As the Statistical Office of the Republic of Serbia reports, there were totally 370,285 employees in retail and wholesale trade and real estate activities in the fourth quarter of 2024 (an increase of 0.1 percent compared to the same quarter of 2023, 15.9 percent of total employment in Serbia).

Retail trade (211,123) and wholesale trade, excluding motor vehicles and motorcycles (117,528) have most employees. Real estate activities have least employees (9,201), with the highest year-on-year percentage increase in employment (0.5 percent).

Employment levels have remained unchanged for nearly 74 percent of companies in the trade sector in the first quarter of 2025.

Also, wholesale trade, excluding motor vehicles and motorcycles, offers the highest average salary (3.9 percent higher than the national average) with a real growth of 8.2 percent.

Notably, real estate activities offer salaries 4.5 percent lower than the national average, wholesale and retail trade and vehicle repair offer salaries 21.9 percent lower. Only retail salaries exceeded the national average by 29.7 percent.

Also, a net inflow of foreign direct investment (FDI) of 117 million euros from resident investments was recorded in wholesale and retail trade and real estate activities in the fourth quarter of 2024. Particularly wholesale trade demonstrated the highest level of non-resident investment activity (54.3 million euros), then followed and retail trade, excluding motor vehicles and motorcycles (35.9 million euros). Opposingly, real estate activities showed the lowest net FDI inflow (9.2 million euros).

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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The exports of Georgia (excluding non-declared exports) attained USD 3 845.1 million in January-July 2025 (9.0 percent higher year-on-year). The domestic exports had the share of 45.3 percent in the total exports and reached USD 1 742.8 million (2.7 percent higher to the same period of 2024).

The first place in the list of top domestic export items in the reporting period belonged to precious metal ores and concentrates (USD 202.9 million, or 11.6 percent of total domestic exports). 8.3 percent of the total domestic exports was accounted for wine of fresh grapes (USD 144.8 million). The third place was taken by the domestic exports of spirituous beverages (USD 122.3 million, 7.0 percent of the total domestic exports).

The top ten trading partners by domestic exports in the reporting period had the share of 70.8 percent in the total domestic exports of Georgia. They were Russia (USD 385.6 million), Türkiye (USD 175.2 million) and China (USD 168.8 million).

They will revise the preliminary data according to the Geostat’s revision policy (based on the regular revision principle) and adjust it by respondents/administrative sources.

Exports of goods produced in the country, as well as imported from abroad, the value of which has significantly changed as a result of domestic processing, are included into domestic exports.

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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According to the Office for Information Technologies and eGovernment, Serbia’s information and communication technologies (ICT) exports increased by 14% on the year in January – June 2025 and reached 2.217 billion euro ($2.592 billion).

As the office said in a press release on Thursday, only in June ICT exports grew up by an annual 17% to 381 million euro.

In the first six months of 2025, the trade surplus in ICT services reached 1.750 billion euro, as per the statement.

In the previous year, Serbia’s revenue from ICT exports attained a record 4.13 billion euro, up by 20% from the prior year.

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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The aim of the fourth meeting of the Kazakh-Serbian Intergovernmental Commission (IGC), held in Almaty on August 8 Kazakhstan and Serbia was to strengthen cooperation in agriculture, tourism, and transport following between the two countries.
Kazakhstan’s Deputy Prime Minister and Minister of National Economy Serik Zhumangarin, and Serbia’s Deputy Prime Minister and Minister of Internal Affairs Ivica Dacic co-chaired the meeting.
Key areas for expanding bilateral ties Zhumangarin were trade, transport, agriculture, healthcare, tourism, science, biotechnology, education, and culture.
In January- June 2025, turnover of agricultural products reached $4mn (1.5 times increase), especially exports of grain and legumes, vegetable oils, fish, meat, and dairy products to Serbia.
As Vice Minister of Agriculture Yermek Kenzhekhanuly noted, there are 20 Kazakh enterprises supplying pike perch fillet and other fish products in the EU register now, and four major producers are ready to begin honey exports to Europe.
Aquaculture products and horse meat are also waiting for EU approval.
Joint investment projects in processing livestock and plant products, as well as research cooperation in seed production, field testing of various crops, development of joint hybrids, and production of biopesticides are proposed by Kazakhstan.
Another major focus was tourism cooperation. According to Vice Minister of Tourism and Sports Yerzhan Yerkinbayev, there is a project of a multifunctional hotel complex in Belgrade.
As Yerkinbayev said, academic partnerships between the International University of Tourism and Hospitality in Turkestan and Singidunum University in Belgrade would include student and faculty exchange programs, joint research, and participation in the Kazakhstan International Tourism and Travel Exhibition in April 2026.
The sides also discussed transport connectivity, particularly the extension of the Trans-Caspian International Transport Route to Serbia. SCAT Airlines are planning to launch direct flights between Astana and Belgrade this year, with potential onward routes to Morocco, Tunisia, Barcelona, and Larnaca.
Another agreement was to hold a trade and economic mission to Serbia and the first Kazakh-Serbian business council later this year.
In conclusion of the meeting they signed a protocol formalizing the agreements reached. The sides will meet again in Serbia in 2026.
The only Serbian institution with UNWTO’s TEDQUAL certification and is ranked among the top 600 European universities by the QS Europe University Rankings 2025 is Singidunum University. One of its functions is the UNWTO’s regional reference library for tourism, housing one of the largest tourism literature collections in the Balkans.
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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A meeting between the Minister of Economy and Sustainable Development, Mariam Kvrivishvili, and Turkish Minister of Transport and Infrastructure Abdulkadir Uraloglu, took place during his working visit to Georgia.
The priority directions of bilateral trade-economic relations, the development of cooperation between countries in sectors such as bilateral trade, transport and logistics, civil aviation, tourism, and others were the topics of the discussion.
Ministers noted that Turkey is the number one trading partner and a regular developed investor, especially in the field of transport. Government of Georgia uses the role of transit corridor effectively and the forms a regional logistics hub.
A number of initiatives for the development of transport corridors between Europe and Asia actively involve Georgia and Turkey. One of them is the Trans-Caspian International Transport Route – the middle corridor that promotes global trade, and economic development.
The modernization of the railway, the construction of the East-West Highway, the development of the Anaklia Deepwater Port, the new Tbilisi International Airport, the Baku-Tbilisi-Kars Railway are among specific projects that will contribute to the development of the country in this direction.
The ministers agreed that the full operation of the Baku-Tbilisi-Kars railway and cooperation in the civil aviation sector were their priorities.
Direct regular flights between two countries made the number of passengers transferred surpass 615 thousand (5.97% more than in the same period of 2024).
4 Turkish airlines are currently carrying passengers between countries and successfully operating freight flights. They expect Turkey’s largest airline, “Turkish Airlines,” to launch a new direction that will further enhance cooperation in both the aviation and tourism sectors.
As a result, more than 1.3 million visitors came from Turkey to Georgia in 2024, which made Turkey second in terms of international visitors to Georgia. Cooperation between the two countries on investments, land transport, hydrography, marine, railway, and more were also discussed at the meeting by the sides.
The Turkish Minister got the invitation to the fifth International Silk Road Forum, which will be held in Tbilisi on October 22-23, from Mariam Kvrivishvili.
The Deputy Ministers of Economy and Sustainable Development of Georgia, Guram Guramishvili and Genadi Arveladze, as well as the Ambassador of Georgia to Turkey, Archil Kalandia also attended the meeting.
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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A meeting between the Minister of Economy and Sustainable Development of Georgia, Mariam Kvrivishvili, and the Prime Minister of Uzbekistan, Abdulla Nigmatovich Aripov, took place during her official visit to Uzbekistan on Wednesday, July 23, 2025.

Both sides assessed the discussion as fruitful. They talked about economic cooperation between countries, especially in the fields of transport, logistics, tourism, and investments and some potential new projects.

Mariam Kvrivishvili held meetings with Prime Minister Abdullah Aripov, Minister of Transport Ilhom Mahkamov Minister of Investments, Industry, and Trade Laziz Kudratov during his official visit to the Republic of Uzbekistan.

She said that the talks touched deepening the partnership between the two countries, including trade-economic aspects and important transport-infrastructure projects.

Both countries acknowledged during the meeting that Georgia and Uzbekistan are stable trading partners, and should make use of the potential in terms of trade turnover growth. Nevertheless, they emphasized the importance of bringing the business circles of the two countries together and implementing more joint projects.

Also, the participants of the meeting raised the issue of holding more trade missions and business forums was between Georgia and Uzbekistan.

As Mariam Kvrivishvili said, the meetings with Uzbekistan’s Ministers of Transport and Investment, Industry and Trade were just as fruitful. Several important issues that will take trade-economic relations between countries to even higher levels – transport and logistics, energy, trade, civil aviation, tourism, information technology, investment, and more were in the focuse of the meeting.

She also noted the interest of Uzbekistan in increasing investments in the Georgian economy, including in terms of logistics and transport, as well as freight in the Georgian corridor. According to both sides, strengthening of the role of the middle corridor required a joint effort.

Mariam Kvrivishvili noted that Uzbekistan placed special emphasis on the issue of investment growth in Georgia. Also, major planned and ongoing infrastructural projects, such as the Anaklia Deepwater Port, highway construction, Tbilisi Akha International Airport can deepen collaboration and strengthen the role of the Middle Corridor while making Georgia function as a transit-logistics hub.

Also, Mariam Kvrivishvili visited Tashkent Technopark and got to know its activities later during the visit.

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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As the National Statistics Office of Georgia said on its website, the increase of the trade turnover between Georgia and Russia was 7% year-on-year and reached $1.28 billion in January-June 2025.
In spite of a 2% decline of Georgian exports ($332.2 million) in the first half, there was a 10.5% growth of imports from Russia (totally $950.5 million). The volume of Georgia’s negative trade balance with Russia grew by 18.7% to $608.2 million.
Precisely, the downfall of wine shipments was 34.5% in value terms to $72.8 million, exports of other alcoholic beverages fell down by 6.1% (totally $65.1 million), mineral water exports grew up by 2.4% to $41.75 million and beverages with added sugar declined by 3.9% to $27.1 million in the commodity structure of Georgia’s exports to Russia.
The rise of supplies of oil and petroleum products was 7.5% to $284.5 million, gaseous hydrocarbons grew up by 27.2% to $128 million and wheat – by 17% to $32.25 million. The decline of imports of machinery and equipment was $24.3 million from $119,900 a year previously, and semis from iron and unalloyed steel dropped to $21.7 million from $80,100 in the structure of imports from Russia.
Trade turnover between Georgia and Russia grew up by 5.4% to $2.53 billion in 2024. The increase of Georgian exports over the year was 3.7% ($681.5 million in total), while the rise of imports from Russia attained 6% to $1.85 billion. The total Georgia’s foreign trade deficit with Russia grew up by 7.4% and reached $1.17 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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According to the central bank, the increase of Serbia’s current account deficit attained 124% on the year in the first five months of the year (totally 1.654 billion euro ($1.927 billion).
As NBS said in a data release on Thursday, the rise of the deficit in trade of goods in the first five months attained an annual 18% (3.003 billion euro in total). Also, there was a decrease of the surplus in trade of services by 16% to 1.016 billion euro.
Notably, the increase of the primary income deficit equaled to an annual 4% (totally 1.138 billion euro). In its turn, the decrease of the surplus in secondary income reached 8% (totally 1.551 billion euro).
Only in May, the growth of Serbia’s current account gap was 2% on the year and reached 334 million euro.
As revised data NBS published last month report, there was an increase of Serbia’s current account gap in 2024 to 3.899 billion euro from 1.804 billion euro in the prior year.
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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The growth of Georgia’s External Merchandise Trade (excluding non-declared trade) reached 12.7 percent year -on-year (totally USD 11 933.4 million) in January-June 2025. The increase of the value of export was 13.7 percent (USD 3 234.2 million in total), while the increase of import was 12.4 percent (totally USD 8 699.3 million). USD 5 465.1 million was the total amount of the trade deficit, and it had the share of 45.8 percent in the overall trade turnover.
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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According to the Agrarian Policy and Food Ministry, Ukraine exported 60,000 tonnes of grains and leguminous crops from the start of the 2025/26 marketing year to July 4, 2025.
25,000 tonnes of wheat (compared with 245,000 tonnes in the 2024/25 MY), 34,000 tonnes of corn (468,000 tonnes), and no barley (3,000 tonnes) were included in this amount.
718,000 tonnes of crops had been exported by Ukraine as of July 5, 2024.
They estimate overall amount of Ukrainian flour exports from the start of the 2025/26 marketing year at 500 kilos (compared to 1.1 tonnes in the same period in the 2024/25 MY).
NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.

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