Serbia’s current account deficit widened to 2.46 billion euro ($2.66 billion) in the first eight months of the year from 664 million euro in the prior-year period, the central bank, NBS, said.
Serbia’s 8-mo c/a gap widens to 2.46 bln euro – table
The deficit in trade of goods increased by an annual 20% to 4.9 billion euro in January-August, while the surplus in trade of services shrank by 17% to 1.6 billion euro, according to figures posted on the NBS website earlier this month.
The gap in primary income rose 11% on the year to 2.69 billion euro in the first eight month of 2024, whereas the surplus in secondary income shrank 10% to 3.57 billion euro.
In August alone, Serbia’s current account gap widened to 556 million euro from 64 million euro in August 2023.
In 2023, the country’s current account deficit narrowed to 1.81 billion euro from 4.16 billion euro in 2022, reflecting an improved energy balance and robust growth in manufacturing and services exports. Last year’s deficit shrank to 2.6% of GDP.
NBS governor Jorgovanka Tabakovic said earlier this year that the anticipated pick-up in the investment cycle and the associated import of equipment and intermediate goods will result in the current account deficit trending at around 4–5% of GDP this year and in the medium term, which is sufficient to ensure the country’s external sustainability.
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