NEWS

Serbia’s top five trading partners list has changed. Germany remains Serbia’s largest trading partner, closely followed by China. Italy, Turkey, and Hungary are other significant import and export partners.
A major economic downturn that Germany is now grappling with made Serbia export to China and Turkey at such a significant scale this year.
Various challenges that Europe is facing have repercussions for Serbia, for example, a potential delay of up to two months in joining the Single Euro Payments Area (SEPA) and protests in Belgrade and other cities.
Meanwhile, Serbia’s exports to China and Turkey increase.
Data published in the latest issue of Macroeconomic Analyses and Trends (MAT) from December report that Serbian exports to China in the first nine months of this year grew up by 65% and attained €531 million, while exports to Turkey increased by 80% and reached €300 million.
The export-to-import coverage ratio in trade with China was 24.1% between January and September 2023, compared to 35.6% this year.
When minor delays in Serbia’s entry into the Single Euro Payments Area (SEPA) were announced by EU officials last autumn, Serbian political leaders suggested in their recent statements that the delay could extend to two months beyond the initially planned date of January 1, 2025.
Cheaper payment transactions within the region and the EU, Serbia’s largest export market, will be possible due to joining SEPA.
As Serbian President Aleksandar Vučić stated during his visit to Brussels on Wednesday, they expected Serbia to join SEPA in January or February, without providing further details. According to European Commission President Ursula von der Leyen, only Albania and Montenegro will join the system next year, followed by North Macedonia and Serbia.
Interest rates were reduced by 25 basis points for the third time by the Federal Reserve on Wednesday, as investors chose to avoid risky investments while the move was anticipated.
As Federal Reserve Chair Jerome Powell’s remarks, although they expected the rate cut and subsequent comments during a press conference, the central bank might delay further rate cuts until 2025, even if inflation remains above 2%. A reaction in the markets was sparked by this.
Two to three rate cuts are anticipated by the market next year. As Mark Luschini of Janney Montgomery Scott commented to Bloomberg, that is an overreaction. According to him, the market’s surprise over the forecast of only one rate cut in 2025 seems exaggerated and unwarranted.
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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As the National Statistics Office said on Friday, Georgia’s external trade turnover attained $21.1 billion between January-November (6.6 percent increase compared to the same period last year).
The raise of imports attained (6.1 percent, $15.1 billion in total), while the growth of exports reached 7.9 percent ($6 billion).
The share of the trade deficit (a measure of the negative balance of trade in which a country’s imports exceed its exports) in trade turnover was observed at 43 percent (totally $9.08 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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As the Office for Information Technologies and eGovernment said on Wednesday, the exports of Serbia’s information and communication technologies (ICT) sector increased by an annual 20% in the first ten months of 2024.
A trade surplus of 2.62 billion euro In the January-October period made the value of Serbia’s ICT sector exports reach 3.342 billion euro ($3.5 billion).
Only in October, the value of Serbia’s ICT sector exports attained 375 million euro (30% growth year-on-year).
Serbia’s revenue from ICT exports increased tenfold in the decade 2013-2023.
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 the State Statistics Service of Ukraine, Ukraine’s deficit of foreign trade in goods increased by 2.3% (from $22.194 billion in January-October 2023 to $22.704 billion in the same period of 2024).
The growth of exports of goods from Ukraine attained 15.7% ($34.727 billion in January-October 2024 year-on-year) and the raise of mports reached 10% ($57.432 billion year-on-year).
A 7% growth was demonstrated by Ukraine’s seasonally adjusted exports ($3.52 billion), while imports the increase of imports was 1.9% ($6.02 billion in October 2024 month-on-month).
The seasonally adjusted trade deficit stood decreased from $2.62 billion recorded in September to $2.5 billion in October.
The export-import coverage ratio equaled to 0.6 in January-October 2024 (0.57 in January-October 2023).
Ukraine conducted foreign trade operations with partners from 228 countries.
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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