As the statistical office said on Tuesday, Serbia’s trade deficit increased by an annual 6% to 5.76 billion euro ($6.76 billion) in the first eight months of the year.
In the reporting period, exports grew by 8.6% on the year to 21.76 billion euro, while imports rose by 8% to 27.51 billion euro
Also, there was an increase of the export-import ratio in the review period rose to 79.1% from 78.7%.
Electrical machines (the total worth of 2.4 billion euro), non-ferrous metals (1.4 billion euro), metal ores and residues (1.3 billion euro), road vehicles (1.2 billion euro), and power-generating machinery and equipment (1.1 billion euro) were Serbia’s most exported products.
Simultaneously, Serbian electrical machines were also the most imported, at 1.8 billion euro. Then followed oil and oil derivatives (1.4 billion euro), medical and pharmaceutical products (1.36 billion euro), road vehicles (1.3 billion euro), and industrial machines (1.2 billion euro).
Germany (3.4 billion euro), Bosnia and Herzegovina (1.4 billion euro), and Italy (1.3 billon euro) were Serbia’s main export destinations in the reporting period. China (4 billion euro), Germany (3.2 billion euro), and Italy (1.8 billion euro) were Serbia’s main partners by imports.
In August, the decrease of imports attained 0.7% to 3.11 billion euro and the downfall of exports reached 2.6% on the year to 2.37 billion euro. That made a trade gap widen from a 698 million euro in the same month last year to 739 million euro.
Last year, the increase of Serbia’s trade gap was 3.8% (totally 8.54 billion euro).
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.
Source Link