Foreign trade up January-May
02. July 2008. | 21:29 04:50
The Serbian Statistics Office stated today that Serbia's overall foreign trade in the period January-May 2008 totalled $14,303.8 million, up 42.9% against the same period last year.
Expressed in euros, Serbia’s foreign trade in this period was €9,367 million or 24.2% against the same period in 2007.
Exports stood at $4,544.5 million, up 41.6% compared to the same period last year, while imports totalled $6,391.9 million, which is a 24.7% increase in relation to the same period in 2007.
Expressed in euros, exports were worth €2,975.1 million, which is up by 23.9%, while imports were worth €6.391.9 million, up by 24.7% in relation to the same period last year.
Trade deficit was $5,214.7 million, which is an increase of 45.2% on the same period in 2007. Expressed in euros, the deficit stood at €3.416.8 million, up by 26.2% against the same period last year.
The export-import ratio stood at 46.6% and was less than in the same period in 2007, when it stood at 47.2%.
Increased imports in the previous period were a result of the import of energy sources, which account for 20.3% of the total import.
Increased exports were driven by the initial effects of privatisation and restructuring of companies, through signed and ratified free trade agreements with countries signatory to the Stability Pact, which are now united under the CEFTA agreement.
Serbia’s exports with CEFTA signatories in the said period stood at $1,475.8 million and imports at $755.8 million. The surplus of $720 million is the result of a larger export of agricultural products to these countries.
Increased exports were also due to the surplus in the export of agricultural products, and the export of vegetables and fruit stands at $125 million, whereas the import of citrus fruits remained the same.