Serbia's BOP deficit rises by 26.1 percent

BELGRADE In the first five months of 2012, Serbia's balance of payments (BOP) deficit amounted to USD 2.11 billion, reflecting a year-on-year increase of 26.1 percent. This is according to the Conjuncture Trends in Serbia journal, published by the Serbian Chamber of Commerce (PKS). Serbia's BOP deficit rises by 26.1 percent The main causes of the rise in deficit are: an increase of 4.5 percent in the trade deficit and drop in the current transfer inflows, especially remittances from workers abroad. In the period from January- May 2012, the foreign direct investment (FDI) new outflow equaled USD 243.7 million. FDI net capital drain is a consequence of the purchase of a stake in Telekom Srbija from the foreign investor and withdrawal of a part of the capital of another mobile service provider. In the first five months of 2012, the balance of services was positive, with a surplus of USD 65.4 million. The export reached the value of USD 1.53 billion, and import USD 1.46 billion, reflecting a drop of 1.1 percent in the export, and 1.2 percent in the import of services. The export-import ratio was 104.5 percent. Tanjug

Serbia's BOP deficit rises by 26.1 percent

The main causes of the rise in deficit are: an increase of 4.5 percent in the trade deficit and drop in the current transfer inflows, especially remittances from workers abroad.

In the period from January- May 2012, the foreign direct investment (FDI) new outflow equaled USD 243.7 million.

FDI net capital drain is a consequence of the purchase of a stake in Telekom Srbija from the foreign investor and withdrawal of a part of the capital of another mobile service provider.

In the first five months of 2012, the balance of services was positive, with a surplus of USD 65.4 million.

The export reached the value of USD 1.53 billion, and import USD 1.46 billion, reflecting a drop of 1.1 percent in the export, and 1.2 percent in the import of services.

The export-import ratio was 104.5 percent.