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Serbia’s foreign trade rises

Serbia’s foreign trade stood at 34.9 billion Dollars in the first nine months of 2019 or 1.6 percent higher than in the same period a year earlier, the Republic Statistics Office said on Thursday.

Exports increased by 0.7 percent to the level of 14.6 billion Dollars while goods imports reached the level of 19.5 billion which is 2.3 percent higher than a year earlier. The foreign trade deficit continued to rise and stood at 4.89 billion Dollars at the end of the third quarter which is an increase of 7.3 percent compared to the same period of 2018 which means that 74.9 percent of imports were covered by exports whch 1.2 percent less than in the same period a year earlier.

The highest level of foreign trade was with the countries that Serbia has free trade agreements with. Trade with European Union member states accounts for 62.6 percent of overall foreign trade. Serbia’s exports to Germany stood at 18.6 billion Euro, followed by Italy with 15.3 billion and Bosnia-Herzegovina with 11.3 billion. Imports from Germany were worth 25.3 billion Dollars followed by China with 17.7 billion and Italy with 17.1 billion.

Source; N1