In October 2024, Serbia exported goods worth €2.6 billion, reflecting a 4.4% increase compared to the same month last year.
However, imports continue to grow at a faster pace, amounting to €3.5 billion, an 8.7% rise compared to October 2023.
Based on these figures, Serbia’s total external trade in goods for the period January–October 2024 amounted to €56.7 billion, a 4.1% increase compared to the same period in 2023, according to the Statistical Office of the Republic of Serbia (RZS).
Exports of goods, expressed in euros, were valued at approximately €24.45 billion, marking a 1.9% increase compared to the same period last year, while imports reached €32.21 billion, representing a 5.7% rise year-on-year.
Largest trade deficit with China
External trade was highest with countries with which Serbia has free trade agreements, with EU member states accounting for 58.6% of the total trade.
The largest trade deficit was recorded with China (primarily due to imports of mobile phones and laptops), followed by deficits with Turkey, Italy, Germany, Poland, Azerbaijan, Kazakhstan, Iraq, the Netherlands, Russia, Belgium, Spain, Austria, Slovenia, Switzerland, France, Hungary, Greece, Denmark, and the United States.
Top exported products
According to RZS data, the top five exported products were:
Sets of conductors for aircraft, vehicles, and ships: $157 million
Refined copper: $141 million
Copper ore and concentrates: $90 million
Electricity: $58 million
New external car tyres: $55 million
Top imported products
The top five imported products were:
Crude oil: $190 million
Retail-ready medicines: $124 million
Electricity: $69 million
Natural gas: $50 million
Other electrical conductors (voltage ≤1000V): $39 million
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