EU Serbia's major trade partner

Assistant Minister of Economy and Regional Development Bojana Todorovic said Wednesday that the EU was Serbia’s most important trade partner and also the biggest investor in our country, it was announced on the Serbian government's website. Speaking at the panel discussion "The Western Balkans and European (Dis)Integration" held at Aeroklub, Todorovic stated that 56% of Serbia’s total trade was with the EU, and if CEFTA countries were added, more than 80% of Serbia’s export was linked to those countries.

Speaking about investments, the assistant minister underlined that €17 billion had been invested in Serbia since 2001, 60% of which had come from the EU and CEFTA countries.

According to her, the economy of the Western Balkans is integrated into that of the EU, which is why any change in Europe affects the countries of the region, including Serbia.

She said that the EU economy had entered a recession in the last quarter of the previous year, adding that the minimum growth cannot be expected before the next year.

She specified that Serbia had had a GDP growth of 1.6% last year, adding that projections for the current year foreseen a growth of just 0.3% due to lower external demand from its major trading partners - EU countries.

More positive forecasts are not expected before the next year, and the first increase in the number of employees in the last five years should take place in late 2013, Todorovic concluded.

Ministarstvo privrede Republike Srbije

Cefta Secretariat Brussels

Vlada Republike Srbije

Bojana Todorovic

foreign trade partner of Serbia

Western Balkans

economy of the western Balkans