ECONOMIC COOPERATION BETWEEN SERBIA AND ITALY

COOPERATION ECONOMIC COOPERATION BETWEEN SERBIA AND ITALY

According to the latest available data from the National Bureau of Statistics, in the first three months of 2022, the total trade in goods with Italy amounted to 1,104.9 billion euros

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he latest available data collated by the National Bureau of Statistics, for 2021, show that the total trade in goods with Italy amounted to 4.2 billion euros, which is 24% more than in 2020. Total exports amounted to 1.8 billion euros and compared to the previous year, this is a 29% increase. Imports amounted to 2.3 billion euros, a 20% increase relative to 2020. The export to import ratio stood at 79.8%.

Serbia mostly exported the following products to Italy in 2021 – new cars (petrol and diesel, up to 1,500cc), maize, wheat, facial cosmetics, new tires for passenger cars; copper coil wire (lacquered or enamelled), TV tape in reels, processed cowhide and bras.

Serbia mostly imported the follow-

IN THE FIRST THREE MONTHS OF 2022, THE TOTAL TRADE IN GOODS WITH ITALY AMOUNTED TO 1,104.9 MILLION EUROS

ing products from Italy in 2021 – unclassified goods as per Serbian customs tariff, mounting parts, unrefined copper, copper anodes for electrolysis, processed cow and buffalo hide, medications (retail), plastic products, unglazed ceramic tiles, knitted products and conductors (up to 1000V).

In the period from 2017 to 2022, according to the National Bureau of Statistics data, the trade between Serbia and Italy grew. In 2017, Serbian exports to Italy amounted to 1,990.3 million euros, dropped after that and then went up again in 2021 to amount to 1,839.9 million euros. Exports in the first three months of this year are better than in 2021 and amounted to 496.1 million euros, unlike last year, when they were worth 422.9 million euros, which is an increase of 17.3 per cent.

Also, Serbia has been importing more from Italy in the last few years. In 2017, the imports amounted to 1,956.1 million euros. For the next two years, Serbian imports grew only to drop slightly in 2020. In 2021, they amounted to a record 2,304.4 million euros. In the first three months of this year, Serbian import from Italy has grown considerably compared to the imports from the first three months last year. Last year, they amounted to 506.2 million euros, and this year, to 608.8 million euros, which is a 20.3% increase.

According to the latest available data from the National Bureau of Statistics, in the first three months of 2022, the total trade in goods with Italy amounted to 1,104.9 million euros. The export to import ratio stood at 81.5%.

Based on the data from the Republic of Serbia’s Ministry of Finance/Customs Administration, in 2021, 9,472 companies in the Republic of Serbia did business with the Republic of Italy.

Of that, 7,814 companies imported from Italy and 551 exported to Italy. Finally, a total of 1,107 companies both exported to and imported from Italy. 