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Serbia’s Q1 foreign trade: A closer look at goods exchange

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Serbia’s foreign trade in goods during the first quarter of the year amounted to approximately 16.3 billion euros, marking a decline of 2.6 percent compared to the same period last year, according to the latest data released by the Republic Statistical Office. Exports totaled around 7.2 billion euros, reflecting a decrease of 1.6 percent, while imports fell by 3.3 percent to approximately 9.1 billion euros.

The trade deficit stood at around two billion euros, representing a decrease of 9.1 percent compared to the corresponding period in the previous year.

Import coverage by exports reached 78.7 percent, indicating an improvement from the previous year’s 77.3 percent. Notably, Serbia’s foreign trade in goods was predominantly with nations where free trade agreements are in place. European Union member states contributed to 61 percent of the total trade volume.

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Additionally, countries within the Central European Free Trade Agreement (CEFTA) emerged as significant trade partners, yielding a surplus of around 677 million euros. Import-export coverage with CEFTA countries reached 291.6 percent.

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