Serbian foreign trade up by 6.9 percent

BELGRADE - Serbian foreign trade increased by 6.9 percent in the first eight months of 2014 compared to the same period last year and reached USD 23.68 billion, the deficit dropped by 2.9 percent, and the export-import ratio rose to 72.7 percent.

Expressed in euros, Serbia's foreign trade in the first eight months of the year totaled EUR 17.34 billion, recording a 2.9 percent increase compared to the same period in 2013, the Serbian statistical office said in a release.

The foreign trade deficit decreased by 2.9 percent to USD 3.73 billion, or, expressed in euros, it saw a 6.6 percent decrease compared to last year and reached EUR 2.73 billion.

The export-import ratio of 72.7 percent is higher compared to the same period last year when it amounted to 70.4 percent.

The goods exported in the first eight months of 2014 were worth USD 9.97 billion, or 8.9 percent more compared to the year before, while imports saw a 5.4 percent increase and reached USD 13.71 billion.

Expresed in euros, the value of exported goods totaled EUR 7.30 billion, which is an increase of 4.9 percent, and imports were worth EUR 10.04 billion, or 1.5 percent more compared to the first eight months of 2013.

Looking at the structure of exports by type of goods, 53.1 percent are production materials, 39.3 percent are consumer goods, and 7.6 percent equipment.

On the import side, production materials account for 60.7 percent, consumer goods 18.5 percent, and equipment 10 percent of imports, while 10.8 percent of all imported goods are unclassified.

Serbia's main export partners included Italy (USD 1.75 billion), Germany (USD 1.23 billion), Bosnia-Herzegovina (USD 862 million), the Russian Federation (USD 679...