Growth of exports 30 percent, and imports 48 percent

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In the period from January to May of this year, Serbia’s exports increased by 30.3 percent, and imports by 47.8 percent, according to the data of the Republic Institute of Statistics.

In May alone, exports increased year-on-year by 42.1 percent, while exports jumped by as much as 54.6 percent.

In the first five months, the highest year-on-year growth in exports was recorded in mining, as much as 523 percent. The exploitation of metals increased exports by 6.55 times, and the exploitation of oil and gas by 6.66 times, although at rather low physical volumes. Agriculture recorded a 17 percent drop in exports.

The manufacturing industry had a 26.7 percent increase in exports in the first five months compared to the same period last year, while imports increased by 33.8 percent.

Except for textiles, all areas of the processing industry recorded an increase in exports, and the highest was the printing and duplicating of audio and video records, albeit with a very low volume.

In addition, the growth of export of oil production amounted to 106.9 percent, production of other means of transport 53 percent, paper production 48 percent.

In imports, without exception, all areas recorded an increase compared to last year.

A large part of imports went to oil and gas. In five months, 1.9 billion euros were imported, or 393 percent more than last year.

The import of oil derivatives increased by 242 percent.

The import of wood products increased by 57.6 percent, basic metals by 55 percent, and vehicles (not motor vehicles) by as much as 151 percent.

Electric energy also recorded a huge growth, as much as 414 percent, while imports increased by 24 percent.

Total exports for five months reached 10.77 billion euros, while imports amounted to 15.7 billion euros. The foreign trade deficit reached 4.9 billion euros compared to 2.35 billion euros in the first five months of last year, Danas reports.