Foreign trade reaches USD 7.9bn

Trade in the 1st quarter of this year hit USD 7.9bn, 38.5 percent up on the same period last year, says Institute for Market Research (IZIT) Director Milivoje Kanjevac.

Izvor: Tanjug

Sunday, 11.05.2008.

13:05

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Trade in the 1st quarter of this year hit USD 7.9bn, 38.5 percent up on the same period last year, says Institute for Market Research (IZIT) Director Milivoje Kanjevac. “Serbia has a huge foreign trade deficit that in the first three months of this year amounted to USD 2.9bn, 40.2 percent more than in the same period last year,” he told a news conference at the Institute. Foreign trade reaches USD 7.9bn According to Kanjevac, Serbia exports mostly raw materials and semi-finished articles—67.2 percent—and imports mainly consumer goods—52 percent of total imports. “Our chief foreign trade partner in the first three months of this year was Russia, with the trade balance reaching approximately USD 1bn, which represents 13.2 percent of overall trade,” he said. Kanjevac said that in the first three months of 2008, export to that country had increased by 95.9 percent, which, according to him, was still not enough, while import had risen by 45 percent. The IZIT director said that Serbia, besides trading on the European market, should expand its dealings to Asian and African countries to help reduce the foreign trade deficit. He said that after Russia, Serbia's most important foreign trade partners were Germany, Italy and China.

Foreign trade reaches USD 7.9bn

According to Kanjevac, Serbia exports mostly raw materials and semi-finished articles—67.2 percent—and imports mainly consumer goods—52 percent of total imports.

“Our chief foreign trade partner in the first three months of this year was Russia, with the trade balance reaching approximately USD 1bn, which represents 13.2 percent of overall trade,” he said.

Kanjevac said that in the first three months of 2008, export to that country had increased by 95.9 percent, which, according to him, was still not enough, while import had risen by 45 percent.

The IZIT director said that Serbia, besides trading on the European market, should expand its dealings to Asian and African countries to help reduce the foreign trade deficit.

He said that after Russia, Serbia's most important foreign trade partners were Germany, Italy and China.

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