Serbia increased both its exports and its imports in January 2019, the Republic Statistics Office said on Tuesday.
The value of exports in January stood at around 1.19 billion Euros or three percent higher than in the same month a year earlier while imports stood at 1.65 billion Euros or 11.5 higher.
The country’s overall foreign trade stood at 2.84 billion Euros which is a rise of 7.8 percent with the trade deficit stood at around 466.7 million Euros or 40.9 higher.
A total of 71.8 percent of imports were covered by exports which is less than in January 2018 when 77.7 percent of imports were covered by exports.
Trade with European Union member states accounted for 61.8 of the country’s total foreign trade. Serbia’s main export partners were Germany, Italy, Bosnia-Herzegovina, Russia and Romania and import partners Russia, Germany, China, Italy and Hungary, the statistics office said.
The country recorded a surplus of 103.2 million Euro in trade with Central European Free Trade Agreement signatories and other countries that it has free trade agreements with – Italy, Slovakia, Bulgaria, Great Britain, Croatia, Romania, Austria, Sweden, Slovenia and the Netherlands.
The biggest deficits in trade were recorded with Russia (fuel imports) and China (imports of telephones and laptops), the United States, Turkey, Poland (car part imports), the Ukraine, South Korea, Hungary, Vietnam, Belgium, Switzerland, Denmark and Germany, the statistics office said.