Serbia Trade Deficit Narrows in March

Serbia’s trade deficit narrowed to USD 803.3 million in March 2026 from USD 969.1 million in the same month a year earlier. Exports rose by 25% to USD 3,918.1 million, driven by increased shipments of capital goods (56.7%), intermediate goods (26%), and non-durable consumer goods (10.5%). In contrast, energy exports fell sharply by 36.7%. Imports also increased, rising 15% to USD 4,721.4 million. Growth was supported by higher purchases of capital goods (25%), intermediate goods (23.2%), and durable consumer goods (16.6%). Meanwhile, imports of non-durable consumer goods declined by 5.4%.

Serbia’s trade deficit narrowed to USD 199.4 million in January 2026 from USD 504.7 million in the corresponding month of the previous year. Exports rose 6.4% year-on-year to USD 2,753.8 million, supported by higher shipments of capital goods (35.7%) and intermediate goods (18%), while shipments of energy (-32.2%), durable consumer goods (-4.0%), non-durable consumer goods (-2.3%), and goods unclassified by MIG destination (-18.2%) decreased. Meanwhile, imports declined 4.5% to USD 2,953.2 million, primarily due to lower purchases of energy (-23.2%), intermediate goods (-1.0%), capital goods (-5.6%), durable consumer goods (-2.2%), and goods unclassified by MIG destination (-0.2%), while imports rose for non-durable consumer goods (5.2%).

Serbia’s trade deficit widened to USD 806.5 million in October 2025 from USD 799.5 million in the corresponding month of the previous year. Exports rose 11.5% year-on-year to USD 3,432 million, driven by higher shipments of capital goods (28.5%), intermediate goods (7.0%), non-durable consumer goods (11.7%) and durable consumer goods (12.1%). However, energy exports fell 6.9%. Imports climbed 9.3% to USD 4,238.5 million, led by purchases of capital goods (16.1%), durable consumer goods (16.1%) and goods unclassified by MIG destination (12.5%), while energy imports declined 4.0%.