How did Serbia’s export to China exceed EUR 1 billion?

Ten years ago, total exports from Serbia to China were worth a little less than five million euros, and in 11 months of 2022, they exceeded one billion euros, according to data obtained by from the State Statistical Office (RZS).

The structure of exports from last year shows, however, that the lion’s share – or a total of 920 million euros – was earned from the export of copper ore and concentrates, as well as refined copper cathodes.

The arrival of the Zijin Group (Zijin Copper Serbia, Zijin Mining) in Serbia in 2018 obviously transformed not only the real estate market in Bor, but also Serbia’s export offer.

According to RZS data, the export of cathode copper has been growing since 2018, so from 2019 to 2022, copper ore and cathode copper topped Serbian exports to China.

According to data provided by Serbian authorities, as well as Zijin’s representatives, the Zijin Group has invested more than two billion dollars in copper and gold mines in Serbia, as well as in ore processing plants. They also employ about 7,000 people here.

Trade unions from Bor, however, have recently staged protests due to the adoption of the new labour regulations, based on which, as they claim, the wages of Zijin employees in Serbia will be reduced.

Looking at other goods that Serbia exports to China in significant quantities, the list also includes beech boards and frozen boneless beef. The export of beech boards went up 50 times in the last ten years, while the export of frozen boneless beef recorded the same trajectory, going up threefold in the last three years.

Source Link