Serbia's export to Russia grew 57 percent last year and reached USD 754.2 million in 11 months, but the deficit remained high - close to USD 1.5 billion, said the Serbian Chamber of Commerce (PKS).

The trade between Serbia and the Russian Federation totaled just over USD 3 billion, which is 25 percent more than the first eleven months of 2010, PKS expert Dejan Delic told Tanjug.

Delic added that import from Russia rose by around 17 percent and had a nominal value of USD 2.25 billion.

Russia is Serbia's sixth biggest export partner with a 6.9 percent share in Serbia's total exports, and its top import partner with a share of 12.6 percent.

The export import coverage ratio is around 33 percent, Delic said.

Serbia's export to the Russian market is dominated by floor coverings and wallpaper, apples, cranes, lead-acid batteries, copper pipes, tires and medicine.

Energy in the form of crude oil and natural gas makes up 80 percent of Serbia's import from Russia, followed by aluminum, propane, oils and cigarettes.

Delic stressed that 99 percent of the goods are traded custom free.

The PKS expert reminded that a protocol signed in July 2011 further liberalized the Free Trade Agreement made between Serbia and Russia in 2000.

Russia is a member of the G-20, a group of the world's most powerful economies, and together with Brazil, India, China and South Africa, it is one of the BRICS - big economies with a high growth rate.