Trade deficit reaches USD 5.63 billion in nine months

BELGRADE Serbia's trade deficit in the first nine months of this year totaled USD 5.63 billion, which is 1.1 percent less than in the same period last year. This is according to the data released on Wednesday by the Statistical Office. Trade deficit reaches USD 5.63 billion in nine months Serbia exported USD 8.19 billion worth of goods, down 7.4 percent from the same period last year, while importing USD 13.82 billion, a decrease of 4.9 percent. The import/export coverage ratio was 59.3 percent, down from last year's 60.9 percent. Serbia's top export partners were Germany, Bosnia-Herzegovina, Italy, Romania and the Russian Federation. Its top import partners were Germany, the Russian Federation, Italy, China and Hungary. The volume of trade was highest with those countries with which Serbia has free trade agreements. EU member countries account for more than half of the total trade. Serbia's second biggest trade partner were regional CEFTA agreement member-countries, with which it recorded a surplus of around USD 1 billion, thanks mostly to the export of agricultural products, iron and steel. As far as individual countries, Serbia had the biggest surplus in trade with former Yugoslav republics - Montenegro, Bosnia-Herzegovina and Macedonia. Also significant surplus was recorded in trade with Romania and Slovakia. The biggest deficit was seen in trade with China due to the import of cell phones and laptop computers, and the Russian Federation due to the import of energy, primarily oil and gas. Serbia also has a deficit in trade with Germany, Italy and Hungary. GDP, industrial production down Serbia's gross domestic product (GDP) dropped by 2.2 percent in real terms in the third quarter of the year relative to the same period in 2011, measured by prices in the previous year, shows a flash assessment released on Wednesday by the Statistical Office. The estimate of the quarterly GDP for the third quarter of 2012 which is more detailed and is calculated at lower aggregate levels will be released on December 28, the release said. At the same time it was announced that industrial production in Serbia decreased by 6.8 percent in September 2012, when compared to the same month last year, and in relation to 2011 average, it decreased by 1.6 percent. In the period January - September 2012, relative to the same period 2011, industrial production decreased by 3.8 percent. When the assessment of the industrial production of small-size enterprises of the sample is included, the overall industrial production in September 2012 compared to 2011 average decreased by 1.8 percent and manufacturing increased by 2.6 percent. Tanjug

Trade deficit reaches USD 5.63 billion in nine months

Serbia exported USD 8.19 billion worth of goods, down 7.4 percent from the same period last year, while importing USD 13.82 billion, a decrease of 4.9 percent.

The import/export coverage ratio was 59.3 percent, down from last year's 60.9 percent.

Serbia's top export partners were Germany, Bosnia-Herzegovina, Italy, Romania and the Russian Federation. Its top import partners were Germany, the Russian Federation, Italy, China and Hungary.

The volume of trade was highest with those countries with which Serbia has free trade agreements. EU member countries account for more than half of the total trade.

Serbia's second biggest trade partner were regional CEFTA agreement member-countries, with which it recorded a surplus of around USD 1 billion, thanks mostly to the export of agricultural products, iron and steel.

As far as individual countries, Serbia had the biggest surplus in trade with former Yugoslav republics - Montenegro, Bosnia-Herzegovina and Macedonia. Also significant surplus was recorded in trade with Romania and Slovakia.

The biggest deficit was seen in trade with China due to the import of cell phones and laptop computers, and the Russian Federation due to the import of energy, primarily oil and gas. Serbia also has a deficit in trade with Germany, Italy and Hungary.

GDP, industrial production down

Serbia's gross domestic product (GDP) dropped by 2.2 percent in real terms in the third quarter of the year relative to the same period in 2011, measured by prices in the previous year, shows a flash assessment released on Wednesday by the Statistical Office.

The estimate of the quarterly GDP for the third quarter of 2012 which is more detailed and is calculated at lower aggregate levels will be released on December 28, the release said.

At the same time it was announced that industrial production in Serbia decreased by 6.8 percent in September 2012, when compared to the same month last year, and in relation to 2011 average, it decreased by 1.6 percent.

In the period January - September 2012, relative to the same period 2011, industrial production decreased by 3.8 percent.

When the assessment of the industrial production of small-size enterprises of the sample is included, the overall industrial production in September 2012 compared to 2011 average decreased by 1.8 percent and manufacturing increased by 2.6 percent.