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Serbian citizens embrace E-Commerce trends with record payments in 2023

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Serbian consumers are increasingly turning to online shopping, according to recent data released by the National Bank of Serbia (NBS). In 2023, a total of 59.2 million online payments were recorded, marking a substantial 37 percent increase compared to the previous year.

The data revealed significant growth in both the number and value of dinar payments made online. Dinar payments saw a 33 percent increase in volume compared to 2022, with the total value of purchases rising by 40.6 percent to reach 114.4 billion dinars.

Of the 40.6 million dinar payments recorded, over 37.8 million transactions were made on domestic retail websites, totaling 109.2 billion dinars in value.

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Furthermore, there was a notable rise in payments made on foreign websites. Transactions in euros surged by 52.6 percent, totaling 10.5 million payments compared to 6.9 million in 2022. The value of these transactions also increased by 41.7 percent, reaching 523.2 million euros.

Similarly, payments in US dollars saw a significant uptick, with a 49.3 percent increase in the number of transactions (7.2 million compared to 4.8 million in 2022). The total value of US dollar payments rose by 26.1 percent to $174.7 million.

Domestic websites remained the preferred choice for Serbian shoppers, with the number of purchases on these platforms exceeding the previous year by 10 million.

It’s important to note that the data provided by the NBS pertains only to online payments made directly through merchant websites and does not include transactions paid via cash on delivery.

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