Serbia’s trade deficit narrowed by an annual 23% to 3 billion euro ($3.4 billion) in the first five months of 2026, the statistical office said on Tuesday.
In January-May, exports rose by 7.7% on the year to 14.7 billion euro, while imports grew by 1% to 17.7 billion euro, the statistical office said in a data release.
The export-import ratio rose to 83% in the review period from 78% in the first five months of 2025.
Serbia’s most exported products in January-May, worth 1.6 billion euro, were electrical machines, followed by road vehicles totalling 1.5 billion euro, and metal ores and residues worth 1.1 billion euro.
At the same time, Serbia imported electrical machines worth 1.3 billion euro, oil and oil derivatives for 1.1 billion euro, and road vehicles worth 997 million euro.
In January-May, Serbia’s main export destinations were Germany, which absorbed Serbian exports worth 2.2 billion euro, Italy with 1.3 billion euro, and China with 883 million euro. Imports into Serbia originated mainly from China, at 2.7 billion euro, followed by Germany with 2.1 billion euro, and Italy with 1.2 billion euro.
In May alone, Serbia recorded a trade gap of 617 million euro, narrowing from a 712 million euro deficit in the same month last year. Exports rose by 3.3% on the year to 2.8 billion euro in May, while imports fell by 0.1% to 3.5 billion euro.
In 2025, Serbia’s trade deficit expanded by 2.9% to 8.8 billion euro.
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