Serbia

Герб
 Флаг
 
Coat of arms: consists of two main heraldic symbols which represent the national identity of the Serbian people across the centuries, the Serbian eagle (a white double-headed eagle adopted from the Nemanjić dynasty) and the Serbian cross (or cross with firesteels).
Flag: is a tricolor consisting of three equal horizontal bands, red on the top, blue in the middle and white on the bottom.
 
  • Anthem: «Bože pravde» is the national anthem of Serbia.
  • Official languages: Serbian. 
  • Geographical location: it is a country situated at the crossroads of Central and Southeast Europe in the southern Pannonian Plain and the central Balkans. The state borders Hungary to the north, Romania to the northeast, Bulgaria to the southeast, Macedonia to the south, Croatia, Bosnia and Herzegovina, and Montenegro to the southwest. 
  • Administrative divisions: Serbia is a unitary state composed of municipalities/cities, districts, and two autonomous provinces.
  • ​​Capital: Belgrade.
  • Governance: the politics of Serbia function within the framework of a parliamentary democracy. The prime minister is the head of government, while the president is the head of state. Serbia is a parliamentary republic composed of three branches of government: an executive, legislature, and judiciary.
  • Population: 8.79 million. 
  • Currency: Serbian dinar.
  • GDP: $97.27 billion.
  • Time zone: GMT +1, GMT +2.
  • Telephone code: +381.
  • Barcode: 688.

 

Trade and economic cooperation between Belarus and Serbia

The country's GDP increased by 1.2% and inflation was 3.6% in Q1 2017 as compared to the same period of 2016. GDP per capita was $5 340. Salary (net of taxes) increased by 4.2% to 47 814 dinars (€390.0) in Q1 2017, unemployment decreased by 4.4% to 14.5% in Q1 2017 as compared to the same period of 2016.

In January — April 2017, Serbia's trade turnover increased by 7.8% to $11.6 billion as compared to the same period of 2016. In addition, the country's exports increased by 7.1% to $5.1 billion, imports — by 8.3% to $6.5 billion.

Serbia mainly exports its goods to Italy, Germany, Bosnia and Herzegovina, Russia and Romania.

Serbia's most valuable export products:

  • Trucks ($623.0 million);
  • Electrical machinery and equipment ($436.7 million);
  • Grains and cereals ($244.5 million);
  • Non-ferrous metals ($240.1 million);
  • Fruits and vegetable ($231.5 million).

The country mainly imports goods from Germany, Italy, Russia, China and Hungary.

Serbia's most valuable import products:

  • Trucks ($575.9 million);
  • Oil and processed petroleum oils ($386.7 million);
  • Electrical machinery and equipment ($321.4 million);
  • Medical products and medicaments ($237.6 million);
  • General -purpose equipment ($207.0 million).

After Belarus and Serbia  signed the intergovernmental free-trade agreement in 2009, trade turnover between the countries increased in 5 times and was more than $250 million in 2015.

Dynamics of trade between Belarus and Serbia (in million U.S. dollars)

Year

Turnover

Exports

Imports

Surplus

2009

53.4

25.2

28.2

-3.0

2010

116.4

71.1

45.3

25.8

2011

145.4

85.6

59.8

25.8

2012

149.2

72.9

76.3

-3.4

2013

192.1

100.0

92.1

7.9

2014

245.5

115.1

130.4

-15.3

2015

259.7

151.1

108.6

42.5

2016

113.6

40.3

73.3

-33.0

January — April 2017 

80.8

44.2

36.6

7.6

January — April 2017 as compared to January — April 2016, %

226.3

301.9

173.7

 

In January — April 2017, trade turnover between the countries increased in 2.3 times to $80.8 million as compared to the same period of 2016. Belarusian exports to Serbia tripled to $44.2 million. Serbian exports to Belarus increased by 73.7% to $36.6 million. Trade surplus was $7.6 million.

In January — April 2017, Belarus exported the products of 99 commodity headings.

The main export items were:

  • Processed petroleum oils;
  • Stranded wire of iron or steel, not electrically insulated;
  • Buses;
  • Liquefied gas;
  • Tractors;
  • Communication apparatus and parts thereof;
  • Potassic fertilizers;
  • Synthetic staple fibres, not carded;
  • Wire of non-alloy steel;
  • Electric motors and generators;
  • Liquid crystal devices;
  • Lasers;
  • Synthetic filament yarn;
  • Bread and bakery confectionery products;
  • Hot-rolled rods of non-alloy steel;
  • Tyre cord;
  • Spare parts to cars and tractors;
  • Wood sawn or chipped lengthwise;
  • Insulated wire;
  • Cables;
  • Aluminium structures;
  • Fibreboard of wood;
  • Underglazed ceramic tile;
  • Cereal grains worked;
  • Tyres;
  • Particle board of wood;
  • Instruments, apparatus for measuring or checking features of liquids and gases;
  • Refrigerators, freezers and other refrigerating equipment;
  • Newsprint, in rolls or sheets;
  • Household or laundry-type washing machines;
  • Woven fabrics of cotton, mixed with man-made fibres;
  • Toys and puzzles;
  • Seeds;
  • Diodes, transistors, similar semiconductor devices;
  • Aluminium rods and profiles;
  • Bearings;
  • Pasta;
  • Plywood;
  • Alloy steel rods;
  • Air or vacuum pumps;
  • Woven fabrics of flax;
  • Polycarboxylic acids and their derivatives;
  • Agricultural machinery for soil preparation or cultivation, parts thereof;
  • Containers for compressed or liquefied gas, of iron or steel;
  • Apparatus for measuring, checking electrical quantities and radiations;
  • Cereal flours;
  • Beauty, make-up and skin care preparations;
  • Flax yarn;
  • Parts to internal combustion engines;
  • Fuel wood;
  • Glass fibres;
  • Panels, boards, tile;
  • Articles of vegetable textile fibres;
  • Woven fabrics of synthetic filament yarn, mixed with cotton;
  • Pumps for liquids;
  • Light fittings and etc.

 

This article has been prepared on the basis of information provided by the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs, and the Embassy of the Republic of Belarus in the Republic of Serbia, and taken from public sources. The information presented herein is for informative purposes only. In this regard, it may be useful for the companies, which have been working in Serbia for a long time, as well as for those, which are going to enter this market. Any questions, feedbacks and comments concerning this article are welcome. All of them will be fully considered and taken into account, if possible. If you have any information that may be interesting and useful for the visitors of this page, please write to us.

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