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Home/Market News & Opportunities/Market News & Opportunities/Serbia’s foreign trade balance nears $24 billion

Serbia’s foreign trade balance nears $24 billion

The latest analysis of the Marketing Research Institute (IZIT) showed that Serbia exported $8.8 billion to foreign markets, 16.3% more than in 2009, while import dropped by 3.9%, Beta news agency reported.

In the January-November period, the country’s foreign trade neared $24 billion, an 8.1% growth compared to the same period one year earlier mostly stemming from a rise in exports.

The rise in exports was mainly due to a stimulating exchange rate, reopening of some major production capacities and a surge in the prices of agricultural products, metals and non-metals in the world market.

In 2010, the sharp edge of the world economic crisis dulled and export demand grew entailing more work for Serbia’s existing production capacities.