Serbia recorded a trade deficit of 1052.30 USD Million in December of 2019. Serbia Balance of Trade - data, historical chart, and calendar of releases - was last updated on February of 2020 from its official source.

Balance of Trade in Serbia averaged -550.17 USD Million from 2001 until 2019, reaching an all time high of -161 USD Million in August of 2001 and a record low of -1364 USD Million in July of 2008. This page provides the latest reported value for - Serbia Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Statistical Office of the Republic of Serbia

Balance of Trade in Serbia is expected to be -580.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Serbia to stand at -390.00 in 12 months time. In the long-term, the Serbia Balance of Trade is projected to trend around -390.00 USD Million in 2021 and -980.00 USD Million in 2022, according to our econometric models.

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Serbia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1052.30 -574.50 -161.00 -1364.00 2001 - 2019 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-31 11:00 AM Sep $-428M $-421.5M $ -470M
2019-11-29 11:00 AM Oct $-588.5M $-428M $-680M
2019-12-30 11:00 AM Nov $-574.5M $-588.5M $-490M
2020-01-31 11:00 AM Dec $-1052.3M $-574.5M $ -580M
2020-03-12 11:00 AM Jan $-1052.3M
2020-03-31 11:00 AM Feb
2020-04-30 10:00 AM Mar $ -680M
2020-05-29 10:00 AM Apr

News Stream
Serbia Trade Deficit Widens Slightly in April
Serbia's trade gap increased to USD 561.8 million in April 2019 from USD 553.3 million in the same month of the previous year. Exports declined 1.3 percent to USD 1,588 million and imports fell at a slower 0.6 percent to USD 2,149.8 million. Considering the January to April period of 2019, the country's trade deficit widened to USD 2,194.4 million from USD 2,085.3 million. Shipments shrank 1.1 percent to USD 6,242.5 million, mainly dragged down by lower sales of machinery & transport equipment (-0.5%); manufactured goods (-4.8%); miscellaneous manufactured articles (-0.4%) and chemicals (-6.8%). Meanwhile imports rose 0.4 percent to USD 8,437 million, as higher purchases of chemicals (6.5%) were offset by declines in those of manufactured goods (-3.5%) and machinery & transport equipment (-6.7%).
Serbia Trade Gap Narrows in March
Serbia’s trade deficit narrowed to USD 573.9 million in March 2019 from USD 624.2 million in the corresponding month of the previous year. Imports dropped 3.8 percent year-on-year to USD 2327.4 million, mostly due to lower purchases of capital goods (-9.5 percent); intermediate goods (-0.2 percent); energy (-24.6 percent); non-durable consumer goods (-3.4 percent) and durable (-0.8 percent). Exports fell 2.4 percent to USD 1753.5 million, mainly driven by lower sales of intermediate goods (-0.6 percent); capital (-5.2 percent); non-durable (-7.7 percent) and durable (-3.4 percent). Considering the first quarter of 2019, the country posted a trade gap of USD 1636.1 million, compared to a USD 1532 million in the same period of 2018.
Serbia Trade Deficit Widens in January
The trade gap in Serbia widened to USD 532.3 million in January of 2019 from USD 402.5 million in the same month a year earlier. Imports went up 4.6 percent to USD 1887.6 million, mainly due to higher purchases of machinery & transport equipment (7.2 percent). Among major trading partners, imports from Europe increased 1.5 percent to USD 1462 million. Meantime, exports dropped 3.3 percent to USD 1355.3 million, mostly due to lower sales of machinery & transport equipment (-3.3 percent) and manufactured goods (-11 percent). Exports to Europe decreased 2.8 percent to USD 1290.2 million.

Serbia Balance of Trade
Although Serbia is not yet a part of the European Union, a free trade agreement was signed in 2008, making the European Union Serbia's most important trade partner. Serbia's foreign trade is dominated by its natural resources, mainly metals, but industrial goods and agriculture also play an important role.