Export Between January and April Lower by 5% Due to Pandemic – Most Domestic Goods Exported to Germany

The total foreign trade of Serbia in the January-April 2020 period amounted to EUR 12.64 billion, which is a drop of 3.1% compared to the same period last year, as announced by the Statistical Office of the Republic of Serbia. In the observed period, the exports were worth EUR 5.24 billion and were lower by 5% compared to the same period in 2019, and the imports were worth EUR 7.40 billion, a drop of 1.7% y-o-y.

The deficit is EUR 2.16 billion and is higher by 7.5% compared to the first four months of the last year, and the export-import coverage ratio dropped from last year's 73.3% to 70.9%.

Expressed in dollars, the external trade of goods between January and April amounted to EUR 13.90 billion, which is a drop of 5.9% compared to the same period last year.

The export of goods amounted to USD 5.76 billion, which is 7.7% less than a year before, and the imports were worth USD 8.13 billion, which is 4.6% less y-o-y. The deficit is USD 2.37 billion, an increase of 4% y-o-y.

The biggest contribution to Serbia's exports was made by the Vojvodina Region (36%), whereas the Belgrade Region contributed the most to the imports (48.8%).

The foreign trade of goods was the biggest with the countries with which Serbia has signed free trade agreements. EU states accounted for 60.1% of the total exchange.

The biggest individual foreign trade partner of Serbia was Germany, where goods worth EUR 664 million were exported, whereas the imports amounted to EUR 942.2 million.

The second most important partner are the CEFTA countries, where, in the first four months, Serbia exported goods worth EUR 833.6 million and from which it imported goods worth EUR 244.9 million, so there's a surplus of EUR 588.7 million. The export-import coverage ratio is 340.4%.

When it comes to the indices of foreign trade activities in April alone, the exports were worth EUR 1 billion, a drop by 28.9% compared to the same month last year, and the imports were EUR 1.41 billion and are lower by 28.1%.

According to deseasoned data, April exports were 23% lower compared to March, whereas the exports were lower by 27.3%.

Republički zavod za statistiku

Statistical Office of the Republic of Serbia

export

import

foreign trade