External trade up 4.5 percent

External trade up 4.5 percent

BELGRADE -- In the January-July 2014 period, Serbia’s foreign trade increased 4.5 percent compared to the same period last year to EUR 15.381 billion.

The export-import ratio was up from last year’s 69.3 percent to 72.9 percent, the Statistical Office of the Republic of Serbia (RZS) said on Friday.

From January through July this year, Serbia exported goods worth EUR 6.488 billion, an increase of 7.7 percent compared to the corresponding period last year, while imports amounted to EUR 8.892 billion, up 2.3 percent against the first seven months in 2013.

Trade deficit was EUR 2,404 million, a decrease of 9.9 percent compared to the same period last year.

Looking at Serbia’s exports, the country’s main trade partners were Italy, Germany, Bosnia-Herzegovina, the Russian Federation and Montenegro, and on the import side, the main partners were Germany, Italy, the Russian Federation, China and Poland.

The external trade in the reference period noted the highest level with the counties with which we have signed agreements on free trade, with EU member countries accounting for 64.8 percent.

Serbia’s second most important trade partner was the regional free trade group, CEFTA. Serbia gained surplus in external trade amounted to USD 742.3 million, resulting mainly from the exports of agricultural and various finished products.

Regarding imports, items mainly related to iron and steel, electricity, as well as hard coal and briquettes. Our exports in the referent period amounted to USD 1625.5 million, while the imports were USD 502.3 million. The export– import ratio equaled 323.6 percent, the Statistical Office said.