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Trade exchange between Serbia, Germany rising up

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The Ministry of Economy and Regional Development stated yesterday that in the first two months of this year Serbia’s exports to Germany increased by around 33%, while imports from Germany to Serbia rose by more than 13% in relation to the same period last year.

The statement says that preliminary data for March 2011 show that trade exchange between Serbia and Germany continues to rise.

According to data of the German Federal Office of Statistics, which was submitted to the relevant ministry by the Serbian Embassy in Berlin, Serbia’s exports to Germany in the first two months this year reached €127.9 million.

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In this way, Serbia’s exports to Germany exceeded the record high from 2008 when Serbian companies exported goods and services worth €117.5 million in January and February that year.

Preliminary data on the trade exchange for March this year show that during 2011 Serbia could export to Germany goods and services in the value of over €1 billion, and that total trade between the two countries could reach €2.5 billion.

Thus, Serbia could become by the end of the year Germany’s most important foreign trade partner within CEFTA, since exports from Croatia, which so far has been the largest exporter of goods and services to Germany, are growing at much lower rate.

The increase in Serbia’s exports to Germany was achieved owing to larger export of electrical devices and equipment, which were exported in the value of over €30 million, which is an increase of almost 50% in relation to the same period last year.

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Export of steel, copper and aluminium products has also increased, as well as textile, food products, fresh and frozen fruits and grain.

Companies that cooperate with Serbia the most come from Bavaria, Baden-Württemberg and North Rhine-Westphalia. Provinces that mark a deficit in the exchange with Serbia are Bavaria, Thuringia, Saxony-Anhalt, Mecklenburg-Western Pomerania, Hamburg and Bremen, the statement adds.

(Government of Serbia)


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