Serbia-Germany bilateral trade hits record high

BELGRADE - The value of bilateral trade between Serbia and Germany reached a total of EUR 2.78 billion in 2013, which is its highest level in history, announced the Delegation of the German Economy in Serbia, citing the data of the German Federal Ministry of Economic Affairs and Energy.

Serbian exports also reached a record value of EUR 1.2 billion, due to an increase of 23.8 percent, while imports from Germany amounted to EUR 1.58 billion.

This has largely balanced the current trade deficit of Serbia, bringing it to EUR 381.83 million last year. In comparison, the trade deficit in 2008 totaled EUR 968.29 million.

The Delegation of the German Economy in Serbia, which has been present in our country since 2001, notes that Serbian exports to Germany are growing significantly.

One of the reasons for this lies in numerous German enterprises operating in Serbia, which export their locally-manufactured products to buyers and partners in the markets of Germany and the EU.

Considering that a number of German-based companies in Serbia are currently expanding their production facilities across the country and will reach their production peak in the years to come, Germany will undoubtedly remain one of the most important trade partners of Serbia in the future, underlined the Delegation of the German Economy in Serbia.

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