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Export to Russia Surge

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Serbia’s export to the Russian market hit a 15-year high last year, head of the Serbian Chamber of Commerce (PKS) office in the Russian Federation Janko Djuric told Tanjug. The export/import ratio, which ranged between 12% and 14% in the last decade, reached “a fantastic 25%”. In 2010, the total trade between Serbia and the Russian Federation reached $2,701.6 million, some 16% above the 2009 balance.

Serbia’s export rose by a staggering 55% from the year before and totaled $541.1 million. Import grew about 9%, to $2,160.5 million. The negative score of $1,619.4 million is caused by the import of oil and gas from Russia, where oil accounts for 43.3% and gas for 30.7% of the total imports. Serbia exports fruit, medicine, car batteries, floor covering, copper pipes and car tires to Russia, while importing oil and oil derivatives, gas, aluminum, mineral fuels, etc. Apple exports have almost been quadrupled and Serbian fruits can now be found at large market chains due to the SCC’s activities.

Source Siepa

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