Report Highlights: In the period January - October 2016, Serbia’s total agro-food exports reached a value of $2.8 billion, an 8 percent increase from the same period in 2015. Total agro-food imports into Serbia for the period January - October 2016 were valued at $1.5 billion, nearly identical to the same period in 2015. Agriculture is the most important export sector, accounting for over 21 percent of all Serbian exports and enjoying a trade surplus of $1.3 billion. This amount is approximately 30 percent higher than for the same period in 2015. In 2015, Serbia’s agro-food exports decreased by 6.5 percent (totaling $3.1 billion) and agro-food imports also decreased by 9.3 percent (totaling $1.8 billion) compared to 2014, reaching a surplus of approximately $1.3 billion (2.3 percent lower than in 2014). The European Union (EU), Central European Free Trade Agreement (CEFTA) and Customs Union (Russia, Kazakhstan and Belarus) countries are the most important trading partners for Serbia. The sensitive economic situation has depressed Serbia’s high value food imports as national incomes have not kept up with the increased cost of living. The challenges faced by U.S. exporters include high import tariffs for products from non-EU and non-CEFTA countries, low incomes which affect consumer buying power, standards which sometimes diverge from international norms, infrastructure issues and the presence of monopolies in the production and retail chains.
|Exporter Guide_Belgrade_Serbia_12-29-2016.pdf||545.85 KB|