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The total amount of external trade of the Republic of Serbia for the period January-July 2024 equalled to USD 42647.2 million (an increase by 2.6% compared to the same period last year) and EUR 39421.1 million (an increase by 2.8% compared to the same period last year).
An increase by 1.1% was demonstrated by the value of exports (USD 18497.4 million) when compared to the same period last year. A growth by 3.8% relative to the same period last year was shown by the value of imports (USD 24149.8 million).
The value of exports increased by 1.3% compared to the same period last year and reached EUR 17097.7 million. The value of imports grew up by 4.0% compared to the same period last year and attained EUR 22323.4 million.
An increase of 13.8% in relation to the same period last year was shown by the deficit (USD 5652.4 million). Expressed in Euros, the deficit increased by 14.2% compared to the same period last year and reached 5225.7 million.
A decrease by 2 % was demonstrated by the export – import ratio compared to the same period last year.
The highest level of the external trade with the counties with which Serbia has signed agreements on free trade was noted in the reference period. 59.5% of total external trade was accounted for European Union member countries.
The exports of cereals and produces thereof, beverages. road vehicles, oil and oil derivatives and electricity to the CEFTA countries brought Serbia surplus in external trade that amounted to USD 1816.6 million. Serbian exports in the referent period reached USD 2765.7 million, while the imports were USD 949.1 million, with the export– import ratio equalled to 291.4 %. Exports attained 2556.6 EUR and imports reached 877.3 million (surplus amounted to EUR 1679.3 million and export – import ratio equalled 291.4%).
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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Hungarian Agriculture Minister Istvan Nagy said at a meeting with Ukrainian Deputy Economy Minister and Kiev’s Trade Representative Taras Kachka in Budapest on Monday that ban on the imports of Ukrainian agricultural produce will be maintained, but its transit will be permitted. He also promised to try to persuade the European Union to draw up rules that will take Hungarian farmers’ interests into account.
As he said, the Autonomous Trade Measures adopted by Brussels will be in effect until June 5, 2025.
Poland will take over the EU presidency from Hungary in the first half of 2025 and plans to continue discussions on and the implementation of the EU’s green policy, amend the EU’s common agricultural policy and create conditions for Ukraine’s future membership in the EU.
Polish Agriculture Minister Czeslaw Siekierski mentioned Ukraine’s vast agricultural production potential and said that it is a large agricultural exporter. That makes amendment of the EU’s common agricultural policy and adoption of rules that would help keep individual EU agricultural markets stable necessary.
Temporary measures liberalizing trade with Ukraine were extended by the Council of the European Union for another year until June 5, 2025 on May 13, 2024. However, an “emergency brake” for imports of particularly sensitive food products from Ukraine, specifically sugar, eggs, poultry, oats, corn, groats and honey, was included. Restrictive measures are triggered by this emergency brake if imports of these products in 2024 exceed the average quantities imported in the second half of 2021 and in the course of 2022 and 2023.
Ukrainian duty-free exports to the EU market in the amount of 57,101 tonnes of poultry meat, 9,662 tonnes of eggs, 109,439 tonnes of sugar, 18,507 tonnes of honey, 4,648 tonnes of corn, 1,017 tonnes of oat, and 8,603 tonnes of groats between June 6, 2024 and June 5, 2025 is permitted by article 4(7) of the Regulation on Autonomous Trade Measures applicable to Ukrainian products under the EU-Ukraine Association Agreement.
Quotas are imposed on imports of Ukrainian eggs and sugar from June 2, 2024 to June 5, 2025 by the European Commission, as previously reported. It set the new quota at 9,662 tonnes of eggs and 109,440 tonnes of sugar. Moreover, it reinstated quotas on Ukrainian honey imports to the EU market on August 21. The EU will introduce a new tariff quota from January 1, 2025 to June 5, 2025, corresponding to 5/12 of the threshold that triggers the emergency brake. It will set the new quota for honey at 18,507 tonnes.
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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According to analysts from First Ukrainian Agricultural Cooperative (FUAC), Ukraine’s barley exports in September (280,000 tonnes) will fall down by half compared to August (600,000 tonnes) due to a drop in purchases of this crop by China, which used to export more than half of Ukraine’s barley.
China’s focus will probably be shifted to Australian barley, which will be received in December-January. According to First Ukrainian Agricultural Cooperative (FUAC), without Chinese contracts, monthly exports of Ukrainian barley will not exceed 300,000 tonnes.
The domestic market starts to react to these changes: some traders are already stopping barley acceptance, switching to other crops, such as corn.
According to the analyst, there was a high correlation between the barley and wheat markets, and there will be a rise in both wheat and barley prices.
FUAC said that the notional barley prices are still in the range of $170-172 per tonne. The wheat market is expected to pull the barley market along with it. Therefore, a slight barley price increase may be expected by the end of August and beginning of September, but after that barley may become a more niche crop.
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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According to Ukrainian media reported with reference to the ministry’s press service, minimum export prices on certain agricultural products will be determined by the Ukrainian Agrarian Policy and Food Ministry in compliance with the International Rules for the Interpretation of Trade Terms and taking into account delivery terms.
The government set minimum export prices for honey, shelled and in-shell nuts, wheat, rye, barley, oats, corn, soybeans, rapeseeds, sunflower seeds, soybean oil, sunflower oil, rapeseed oil and pomace at a meeting on Tuesday.
It will be prohibited to export certain types of products if their prices as per a foreign trade contract are lower than the minimum export prices determined by the Agrarian Policy and Food Ministry for each type of product after introduction of an export guarantee regime.
Delivery terms will be taken into account by issuing a corresponding decision (order) before the 10th day of every month or, if such a day falls on a day-off, on the next working day. The ministry’s official website will publish minimum export prices that will come into effect the next day, while the government’s resolution will take effect ten days after its publication.

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Exports to Romania grew up by 11,361% in January,
Georgia’s foreign trade turnover attained $12.56 million In January-July 2024, showing a 1.6% increase compared to the same period last year. Exports demonstrated a 1.4% (3.53 million USD) decrease, while imports showed a rise by 2.9% (9.03 million USD).
GEOSTAT noted that the negative trade balance in January-July 2024 attained 5,504.5 million USD (43.8 percent of the foreign 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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Strong demand in regional markets and Russia drove an 8% increase of Serbia’s cosmetic product exports. It reached €36.8mn in the first five months of 2024.
The latest data from the Serbian Chamber of Commerce (PKS) report an unprecedented growth of Serbia’s cosmetic industry, with exports reaching record levels in the first five months of 2024.
According to Adrija Nikola Rankovic, a senior adviser at the Center for Strategic Analysis, Analytics, and Planning within the PKS, the value of exports from 2023 represents the largest volume of cosmetic product exports in the last five years.
He added that the export of cosmetic products grew up by about 40% compared to 2022 (€57.8mn) and reached a value of €80.2mn last year. The export of cosmetic products from Serbia is growing by about 12% annually since 2019.
Strong demand in regional markets as well as the Russian Federation has driven the growth. As Rankovic noted, about 50% of the total sales of cosmetics abroad are exported to the three most important and largest markets for cosmetics from Serbia: Bosnia and Herzegovina, Montenegro, and the Russian Federation.
EU markets, including Bulgaria, Austria, Romania, Slovenia, Croatia, Germany, and Hungary, albeit on a smaller scale, are being penetrated by Serbian cosmetic products. Serbian cosmetic products are also significantly present in Kosovo and North Macedonia.
The most exported products, which reached an annual export value of €33mn, include beauty and skincare items, along with perfumes and toilet waters, exports of which attained €10mn. Hair products (€7.5mn), deodorants (€5.5mn), and hair shampoos (€4.3mn) were among other notable exports.
Multinational and local companies, including Henkel Srbija, Esensa, Korpa, Beiersdorf and Sarantis led the charge in this export boom.
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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According to Ukrainian Deputy Economy Minister and Trade Representative Taras Kachka, Ukraine’s goods exports rose by 9% month-on-month and amounted to $2.969 billion in money terms in July 2024, while in physical terns, the country’s exports decreased by 0.6% in the same period, mainly due to the seasonal change of exported crops.
Only 1.56 million tonnes of corn were delivered in July, so the corn exports declined by 44.4% month-on-month, and by 60% compared with April’s high of 4.1 million tonnes.
Kachka suggested to raise exports of wheat and rapeseed. In July 1.58 million tonnes of wheat were exported by Ukraine, up 44% month- on-month, and almost twice as much as last July, when they exported 823,000 tonnes. 277,000 tonnes of rapeseed were also supplied by Ukrainian producers abroad in July (13.5% up year-on-year). Exports almost doubled compared to June and reached 580,000 tonnes in July.
Even the core area always gives an opportunity to produce goods with a higher price and more added value.
38 categories of goods bringing more than $10 million are included in Ukraine’s exports: glassware (they have not fallen below $10 million over the past 12 months, and for several months have reached $12 million), carpentry and joinery products, (usually range from $14 million to $16 million per month), as well as furniture (worth $37.9 in July).
Records with 219,000 tonnes of semi-finished products were also set by metal industry (up 83% compared to June).
A change with regard to maritime transport exporting 6.25 million tonnes in July, down 0.4% month-on-month, was seen by the transport industry. 2.609 million tonnes were exported by rail transport (down 3% month-on-month). Road transport supplied 825,000 tonnes (up 5.5% compared to June).
56% of exports are still accounted for the European Union ($1.67 billion). The leading consumers of Ukrainian products are Poland ($358 million), Spain ($190 million), Germany ($178 million), the Netherlands ($147 million) and Italy ($136 million).
Goods worth $175 million were exported to China. It is still the largest market outside EU countries, regardless a 3.1% downfall. A 17.5% growth was shown by exports to Egypt in July (month-on-month to $143 million) and by 32.7% (to $134 million) by exports to Turkey. $89 million of products were sold to India (a 137% growth).
Moldova ($87 million), Lebanon ($44 million), Algeria ($39.5 million), the United States ($39.2 million), Israel ($39 million), and Indonesia ($38.5 million) were also named among the top 10 export destinations for Ukraine outside the EU.
Ukraine’s imports were estimated at $5.3 billion in July 2024, including fuel ($604 million), cars ($306 million), medicine ($156 million), complex fertilizer ($102 million) and electricity ($120 million).
They extended grain transshipment contract between Ukraine’s Nibulon and Romania’s TTS.
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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As Ukrainian media outlets said with a reference to the grain trader’s press service, a grain transshipment contract between Nibulon, one of Ukraine’s largest grain market operators, and Romania’s Transport Trade Services (TTS) has been extended for a new season.
According to the press service, the two years of productive cooperation between the two companies were logically continued by this decision. 3.5 million tonnes of Nibulon’s cargo were transshipped by TTS during this time. Transshipment of 1.6 million tonnes of grain is already envisaged by the new contract in this season.
Food-grade wheat is transported by the CNFR NAVROM SA company from Izmail, Odessa region to Romania’s Constanta at present. 63,000 tonnes of cargo were also transshipped on the Wadi Tiba bulk carrier using a crane vessel and the delivery and loading of 30,000 tonnes of rapeseed on the Amalia vessel were ensured by TTS Operator S.R.L. They expect the third vessel to arrive this week and 32,500 tonnes of Ukrainian feed wheat to be loaded on it.
Nibulon Logistics Director Sergei Kalkutin said that an effective partnership with the TTS company has been established in the past two years. The process has been optimized and delivery expenses have been reduced due to the implementation of a complex solution with a consistent and steady cargo flow, which makes competition with the Greater Odessa ports possible. It is also important to maintain the shipment volumes they have already reached. A declining cost of freight rates from the Ukrainian ports on the Black Sea makes the logistics chain of Danube-Constanta shipments become $10 more expensive compared to the Greater Odessa ports. Because of this, finding opportunities to organize a steadier shipment flow and minimize expenses on all stages of our logistic chain to Constanta is important.
Established in 1991, Nibulon owned 27 transshipment terminals and complexes for receiving crops with combined storage capacity of 2.25 million tonnes, a fleet of 83 vessels, including 23 tugboats, and the Nikolayev Shipyard before the start of the crisis.
82,000 hectares of land in 12 regions of Ukraine were cultivated by Nibulon and agricultural products were exported to over 70 countries. 5.64 million tonnes in 2021, including 700,000 tonnes in August, 1.88 million tonnes in the second quarter, and 3.71 million tonnes in the second half of the year was the peak of the company’s exports of agricultural products.
Now Nibulon’s headquarters have been moved from Nikolayev to Kiev and the company operates at 32% of capacity.
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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According to the Institute for Economic Research and Policy Consulting (IER) quoted by Ukrainian media on Tuesday, exports of goods from Ukraine decreased by 7% in June 2024 year-on-year to its all-time low of $2.77 billion since the beginning of this year.
IER’s foreign trade monitoring showed a drop of exports of agricultural products by 2% to $1.60 billion and a 12% increase of exports of specific products. Different exports developed in different ways. For example, corn exports rose by 21%, while wheat and oil exports fell by 32% and 5%, respectively.
A slump by more than 9% to $355 million year-on-year was demonstrated by exports of metallurgy products in June. As the IER said, higher energy costs and a change in the structure of exports probably caused this problem: the decline of exports of pig iron and certain types of rolled products was accompanied by the rise of exports of semi-finished and other products.
Meanwhile, a 33% surge was shown by exports of mineral products, especially iron ore, but they couldn’t surpass the results reached in January-April 2024.
According to the IER, the volume of iron ore exports in tonnes rose by 87% in June, though it was lower than in January-April 2024, due to the resumption of exports from the Odessa ports.
The increase of exports of mineral products reached only 33%.
Almost no changes were recorded concerning imports in June compared to May, but they grew up by12% year-on-year and attained $5.63 billion.
In specific sectors the rise of imports of machinery and equipment in June 2024 attained nearly 20% year-on-year (especially imports of drones, batteries, and generators), while lower import prices caused a slight fall of imports of vehicles in dollar terms.
Higher imports of coke and coal caused by the needs of the metallurgical industry, where steelmaking was ramped up, led to a soar by 16% year-on-year of imports of energy products.
It was accompanied by a drop of imports of chemical products and food products.
Imports of “other goods” (primarily purchased for the needs of the Ukrainian Armed Forces) grew up, which caused the import of as much as $752 million worth of goods under this category into Ukraine, compared to $400 million in the previous months of the year.
The IER reports the rise of imports of the electricity from $6 million in June 2023 to $78 million in June 2024, as well as batteries from $18 million a year earlier to $68 million in June 2024 due to the shortage of electric power.
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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According to US State Department report on the investment environment in Georgia in 2024, Georgia favorably compares to regional peers and overall business and investment conditions are sound, but there is a continued lack of confidence in the judicial sector’s ability to adjudicate commercial cases independently or in a timely, competent manner, with some business dispute cases languishing in the court system for years.
Georgia’s economic growth rate was on average over five percent from 2005 through 2023 despite the shock from the COVID pandemic. Tourism revenues, a surge in immigration and financial inflows, and a rise in transit trade through Georgia made the country’s economy increase in 2021 by 10.4 percent and outperform expectations in 2022 with 10.2 percent growth. A return to more traditional economic drivers (tourism, increasing exports, and strong foreign capital inflows) made the economy grow by 7.5 percent and inflation drop to 0.4 in 2023. Georgia’s GDP growth is forecasted between five and seven percent in 2024.
Nevertheless, there are such problems as inefficient decision-making processes at the municipal level, lack of effective anti-trust policies, accusations of political meddling, selective enforcement of laws and regulations, including commercial laws, and difficulties resolving disputes over property rights.
Georgia is eligible to export many products duty-free to the United States under the Generalized System of Preferences program according to a Bilateral Investment Treaty signed in 1994.
Increased east-west trade along the Middle Corridor has made transit and logistics priority sectors due to a significant profit they can bring to Georgia. Recent increases in cargo through the Middle Corridor connecting Europe to Central Asian markets, as well as strategic infrastructure investments and regional cooperation have made the expanding Central Asian market the source of long-term growth for Georgia. A new tender for the development of the Anaklia port, a deep seaport whose original tender was canceled in 2020, was announced by the Georgian government In February 2023. The international tender for the design and construction of Anaklia port’s marine infrastructure was announced by the government in March 2024. According to the report, plans to build a new Tbilisi International Airport were announced by the government in April 2024.
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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