Serbia's export grows by 30%, Germany remains our main partner

The deficit in trade with the rest of the world amounts to 4.91 billion euros

Serbias's total foreign trade in the period January-May 2022 amounted to 26.45 billion euros, which is an increase of 40.1 percent compared to the same period last year.

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Exports of goods increased by 30.3 percent to 10.76 billion euros at the annual level, while imports were up by 47.8 percent to 15.68 billion, the Statistical Office has announced.

The deficit in trade with the rest of the world amounts to 4.91 billion euros, which is an increase of 109.1 percent compared to the same period last year. The coverage of imports by exports is 68.7 percent and is lower than in the first five months of 2021, when it was 77.8 percent. In dollars, foreign trade in the period January-May amounted to 29.14 billion, and is higher by 28.2 percent year-on-year.

Goods worth $11.86 billion have been exported, an increase of 19.2 percent compared to the same period last year, while imports amounted to $17.27 billion, or 35.2 percent more than in the same period in 2021. The deficit was $5.41 billion, an increase of 91.2 percent over last year.

The largest share in Serbia's exports is held by the region of the province of Vojvodina (34.0%), while the Belgrade region is importing the most (43.0%).

Most foreign trade has been conducted with countries with which Serbia has free trade agreements. European Union member states accounted for 59 percent of total trade. Our main individual foreign trade partner on the export side was Germany, with 1.43 billion euros.

China has that role on the import side, with 1.86 billion euros.

In addition, industrial production in Serbia increased by 8.7 percent in May compared to the same month in 2021, while compared to last year's average - it was higher by 2.1 percent, the Statistical Office said.

(Telegraf Biznis)