Serbia Import Data

Serbian Import/Export Overview and Domestic Market Update

Imports & Exports

• Top Trade Partners: Serbia's major trading partners include Germany, Italy, Russia, and China, reflecting a diverse import-export matrix.

• Imports: The top 5 imports are machinery and vehicles, mineral fuels, chemical products, food, and pharmaceuticals, comprising a significant portion of the total imports.

• Exports: Leading exports are machinery, vehicles, food products, base metals, and wood, which make up a substantial part of the total export volume.

• Trade Balance: Serbia has been running a trade deficit, with imports exceeding exports, highlighting the need for enhanced export competitiveness.

• Trade Policies: The government has been implementing policies to boost exports, including trade agreements and incentives for exporters, aiming to improve the trade balance.

Domestic Market

• Consumer Spending: Consumer spending in Serbia is on the rise, driven by increased employment and wages, although inflationary pressures are noticeable.

• Interest Rates & Inflation: The National Bank of Serbia has maintained relatively stable interest rates, aiming to control inflation, which has seen fluctuations but remains within target ranges.

• Supply Chain Dynamics: Supply chains have shown resilience despite global disruptions, with a focus on regional integration to ensure stability and efficiency.

• Industry Performance: The automotive, agriculture, and IT sectors have performed well, contributing significantly to economic growth, with continued investment in these areas.

Overall Outlook

Despite challenges such as inflation and a trade deficit, Serbia's economy shows resilience and growth potential, supported by robust industrial performance and a focus on export enhancement. The future looks promising with strategic policy adjustments and continued international cooperation.