Experts look at worrying trade deficit

Experts of the Institute for Market Research (IZIT) Wednesday addressed Serbia's worrying trade deficit trends.

Izvor: Tanjug

Thursday, 05.06.2008.

15:22

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Experts of the Institute for Market Research (IZIT) Wednesday addressed Serbia's worrying trade deficit trends. Serbia's imports in Q1 were double the amount of exports, and reached USD 4.6bn, up 42.6 pct. on 2007. At the same time, exports were up 39.6 pct. Experts look at worrying trade deficit IZIT Director Miloje Kanjevac noted that exports accounted for imports by 45.7 pct., a drop from 46.8 pct, adding that it is necessary to bear in mind that Serbian exports are dominated by raw materials and lower production stage products, while imports are dominated by consumer goods, worth about USD 4bn. IZIT associate Sasa Djogovic added Q1 trade deficit was reduced in exchange with Slovenia, Croatia and Austria, which can be interpreted as the consequence of calls to boycott goods from these countries. At the same time, Serbia's trade surplus was realized with her immediate neighbors: Montenegro, Bosnia-Herzegovina and Macedonia. Serbia's major foreign partner is Russia, with whom trade went up by 50.1 pct, thus increasing that country's share in Serbia's overall trade from 12.5 to 13.3 pct.

Experts look at worrying trade deficit

IZIT Director Miloje Kanjevac noted that exports accounted for imports by 45.7 pct., a drop from 46.8 pct, adding that it is necessary to bear in mind that Serbian exports are dominated by raw materials and lower production stage products, while imports are dominated by consumer goods, worth about USD 4bn.

IZIT associate Saša Đogović added Q1 trade deficit was reduced in exchange with Slovenia, Croatia and Austria, which can be interpreted as the consequence of calls to boycott goods from these countries.

At the same time, Serbia's trade surplus was realized with her immediate neighbors: Montenegro, Bosnia-Herzegovina and Macedonia.

Serbia's major foreign partner is Russia, with whom trade went up by 50.1 pct, thus increasing that country's share in Serbia's overall trade from 12.5 to 13.3 pct.

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