Serbia, Trade exchange with Austria increased

Published on 28. April 2023., News

According to the latest available data of the Republic Institute of Statistics, in 2022 the total foreign trade exchange in goods with Austria amounted to 1,783.9 billion euros, which is an increase of 31.3 percent compared to the same period in 2021.

The total export In 2022 was 832.5 million euros, which is an increase of 30.2 percent compared to the same period in 2021, while the total import in 2022 was 951.4 million euros, which is an increase of 32.2 percent in compared to the same period in 2021. In 2022, a deficit with Austria of 118.9 million euros was realized, which is an increase of 47.9 percent compared to the same period in 2021. The coverage of imports by exports in 2022 was 87.5 percent.

The growth in Austrian exports was primarily related to product groups with traditionally the highest turnover, among which are machines and electrical devices, reactors and boilers, paper and cardboard, plastics, fertilizers and pharmacological products, while Austria mainly imports electronic devices and machines, beds from Serbia and lighting, iron and steel, soap and detergents, glass and fruit.

The number of business entities that are net importers from Austria – 2,874

Number of business entities net exporters to Austria – 1,013

The number of economic entities that carry out foreign trade exchange in both directions – 640

Note: Unknown companies, foreign representative offices and foreign natural persons and persons without PIB are not included

Business entities with majority Austrian capital in Serbia

According to the data of the Agency for Business Registers of the Republic of Serbia, 719 active business entities (as of February 3, 2023) were registered on the territory of the Republic of Serbia, whose majority owners are Austrian citizens, i.e. legal entities registered in Austria.

Investments

According to the methodology of the National Bank of Serbia, the total net investments of residents of the Republic of Austria in the Republic of Serbia in the period from January 2010 to September 2022 amounted to over 2.7 billion euros. According to RAS data, the largest Austrian investors in Serbia are: Telekom Austria Group with EUR 950 million, Raiffeisen Zentralbank Österreich AG – EUR 500 million, then OMV and Bank Austria Creditanstalt (HVB) / UniCredit Bank, whose individual investments are EUR 150 million, as and Kronospan with investments worth EUR 135 million.

Telekom Austria Group’s investments are among the 10 largest FDI by individual companies to date.
The support of the Austrian Chamber of Commerce in the field of dual education and digitalization is also significant for Serbia. The EURACTIV special Is dedicated to the overall relations between Austria and Serbia, through all aspects of cooperation.

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